The world of social media is vast and constantly changing. The last thing you want to do is waste resources posting on outdated social media platforms that aren’t reaching potential customers. What are the top platforms of 2020, and how are consumers interacting with them?
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Let’s start with some base numbers. In terms of user base, Facebook is by far the most widely adopted social media platform in the world with 2.7 billion monthly active users as of June 2020. Followed by YouTube, with roughly 2 billion monthly active users, and Instagram with just over 1 billion.
However, newcomer Tik Tok is on the rise with over 2 billion downloads between the App Store and Google Play.
But total population isn’t everything. Where is your target demographic? What social media platform do they prefer?
According to GlobalWebIndex, 41% of Tik Tok users are aged between 16 & 24. Instagram is in a similar boat with nearly 60.8% of their monthly active users being between the ages of 13 & 34. It’s safe to say that as of 2020, the younger generations are drawn to these eye-catching multi-media platforms.
But what about the old guard? It might not be surprising, but Pew Research Data shows that both Baby Boomers and the “Silent” generation, that’s people born before 1945, are migrating to Facebook in droves.
To be exact 60% of United States born Baby Boomers and 37% of U.S. seniors born before 1945 now have Facebook accounts. Both Millennials and Gen X appear to be maintaining a steady adoption rate on Facebook as well.
With billions of users, it’s safe to say the modern world is on social media like never before. Especially in 2020, a time when more and more of our transactions are happening online. Now it’s just a matter of figuring out where your business can fit in.
The Facebook & Instagram joint eco-system has always been a strong contender in the e-commerce space and continues to expand. On August 25th, Facebook announced Facebook Shops and additional features for Instagram Shop Live. Facebook Shops is a destination where consumers can discover and purchase products from brands & retailers of all sizes inside both Facebook and Instagram. In other words, this takes the entire buyer’s journey and makes it happen without the consumer ever leaving their social media platform of choice.
The Facebook Shop feature is currently only available to select businesses but is scheduled to go public later this year. For more information, check out the link in the description below.
Outside of Facebook & Instagram, YouTube continues to drive consumer spending with 78.8% of marketers in 2020 ranking it the best video-marketing platform. Without a doubt due to the influx of user generated content and influencer marketing.
Interested in learning more about how brands & retailers alike can use social media to elevate their business? Visit Thumbstopper.com.