Which Social Media Channels are Gaining and Losing Steam in 2024? [New Consumer and Platform Data]

Lately, it appears like everyone seems to be on social media. However make no mistake, not everyone seems to be on each channel.

As entrepreneurs, it is essential to know your viewers’s favourite social channels. As an example, for those who’re promoting retirement houses, it is secure to forgo Snapchat, the place only 3.7% of customers are over 50.

HubSpot surveyed over 1,400 entrepreneurs all over the world discover out which social media channels are gaining steam — and that are falling behind. Learn on to find which platforms are hottest with entrepreneurs and shoppers in 2024.

Social Media Channels Gaining Steam in 2023

Instagram

In accordance with SimilarWeb, the Instagram app has over 1.64 billion users, making it one of the crucial widespread apps as we speak.

And Instagram is anticipated to see extra development, and our survey outcomes present that it’s tied for first place for the very best potential development in 2024 and 52% plan to extend their funding within the platform. 24% of social media entrepreneurs additionally plan to take a position essentially the most in Instagram over another platform.

Entrepreneurs’ affinity for Instagram is sensible, contemplating entrepreneurs in our survey mentioned the app yields the very best engagement and the third-highest ROI of all social media platforms.

One more reason for Instagram’s reputation amongst entrepreneurs is that the platform is main the cost in leveraging the social promoting development. Instagram has essentially the most developed in-app promoting instruments of any platform. Our survey reveals that, in 2024, 84% of entrepreneurs imagine shoppers will purchase merchandise through social media apps greater than from a model’s web site.

Entrepreneurs aren’t the one ones utilizing the platform.

Though Gen Z visits TikTok essentially the most, they rank Instagram amongst their favourite social media apps — as do Millennials.

Instagram can be holding regular with older audiences. In the previous few months, 47% of Gen X-ers have visited Instagram, adopted by nearly a quarter of Baby Boomers. Nonetheless, for those who’re focusing on these audiences particularly, Fb or YouTube might be a greater choice.

On the advertising and marketing facet, more than half of video entrepreneurs rank Instagram as the most effective platform for ROI, engagement, and lead era. For those who’re trying to dive extra into video advertising and marketing, Instagram is a horny choice.

Fb

Fb can be tied with Instagram for platforms anticipated to see essentially the most development in 2024. In accordance with our survey, 21% of social media entrepreneurs plan to take a position extra in Fb than another platform, and 53% plan to extend their funding, which is an virtually 24% change from simply 2023.

Moreover, 40% of social media entrepreneurs plan to make use of Fb for the primary time in 2024.

Fb at the moment attracts 3 billion monthly users, greater than any of its rivals. A excessive focus of its viewers belongs to Gen X-ers and Child Boomers.

Within the final three months, 81% of Gen X-ers and 70% of Boomers have visited Fb. On high of that, Gen X and Child Boomers rank Fb as their favourite social media app and most visited app. In case your target market is made up of both of these generations, Fb is your greatest guess for social media marketing campaigns that attain them.

Now to the next-youngest era — do millennials use Fb? Sure. Whereas it’s not their most visited app, it’s their favourite app.

That being mentioned, engagement drops considerably for Gen Z audiences. Simply 53% have visited Fb up to now three months, and simply 13% say it’s their favourite platform.

TikTok

TikTok is named the platform for Gen Z — and the info confirms it. Actually, within the U.S. alone, more than half of Gen Z shoppers are on TikTok. Plus, Gen Z-ers say TikTok is their favourite platform, pulling forward of YouTube, Instagram, and Fb.

It does not cease there: TikTok can be selecting up steam with different demographics. 30% of TikTok customers in 2024 are between 35 and 54 years outdated, a 7% increase from last year. Utilization amongst Child Boomers continues to be low, with 16% visiting the app within the final three months, however that mentioned, their utilization is steadily growing, with a 60% change in utilization since simply final 12 months (10% to 16%).

Whereas solely 34% of social media entrepreneurs use the platform, these utilizing TikTok are strengthening their funding in 2024 – greater than entrepreneurs on another platform. Actually, 60% of them will enhance their funding in advertising and marketing on TikTok in 2024, and one other 34% will hold investing the identical quantity.

It is also value mentioning that TikTok has the very best engagement charge out of another social platform, averaging 55.8 minutes per day per session. Briefly, TikTok’s snackable content material is addictive for quite a lot of age teams.

YouTube

YouTube has a consumer base of 2.4 billion+ people and receives over 34 billion month-to-month visits, in keeping with knowledge we pulled from SimilarWeb.

YouTube is widespread with Gen Z, Millennial, and Gen X audiences in comparable measures. Within the final three months, 68% of Millennials have visited YouTube, adopted by 69% of Gen Z, and 65% of Gen X. For Child Boomers, YouTube is their second favorite social media app, simply behind Fb.

YouTube was additionally a high favourite amongst video entrepreneurs, and greater than 1 / 4 of video entrepreneurs deliberate to spend money on YouTube than another platform, in keeping with HubSpot’s Video Marketing Report. As well as, entrepreneurs mentioned YouTube provided the very best ROI in 2023.

Social Media Channels Shedding Steam in 2023

Tumblr

After quite a few acquisitions and near-revivals, Tumblr has but to recreate its early- to mid-2000s reputation. In accordance with our report, Tumblr is hottest with Millennials, however only 13% have visited the platform up to now three months.

Surprisingly, Gen Z has visited Tumblr at almost the identical charge (10%). Actually, a report by Quartz discovered that 61% of recent Tumblr customers in 2022 have been beneath the age of 24. This begs an essential query: is one other revival across the nook?

Whereas it is nonetheless too early to name, I like to recommend specializing in platforms that pull stronger numbers for the viewers you need to goal and remaining experimental with people who don’t.

Twitch

Though Twitch is high canine within the live-streaming area, all main streaming platforms — together with Twitch, Fb Gaming, and YouTube Stay — have seen a drop in total hours watched in the previous few years. For instance, Fb Gaming alone noticed a -59% YoY change in hours watched.

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23% of Millennials, adopted by solely 12% of Gen Z, and 9% of Gen X have visited Twitch up to now three months.

When is the most effective time to publish on social media?

Whereas social media platforms will proceed to fall out and in of favor with shoppers and entrepreneurs, one factor stays fixed — timing is all the pieces. Regardless of which platform you select to spend money on, it is important to know the most effective time to publish to spice up your model’s visibility.

To remain on high of a posting schedule, social media marketers told us that they use a social media schedule or calendar after they publish content material (72%). Instruments like HubSpot’s Social Media Management Software can successfully aid you craft and execute the precise social media scheduling technique; nonetheless, realizing when to publish will aid you enhance engagement.

For instance, social media entrepreneurs working in Jap Customary Time reported 6-9 p.m. as the most effective time to publish.

However, entrepreneurs in Pacific Customary Time mentioned 3-6 p.m. yielded the most effective outcomes.

Nonetheless, crucial recommendation I can provide on the most effective time to publish is that it is dependent upon your viewers and after they’re essentially the most energetic on social media. For instance, in case your viewers is essentially the most on-line after work hours, you’re posting for nobody for those who share most of your content material within the early morning.

• Fb: 12-3 p.m., 6-9 p.m., and 9am-12 p.m.
• YouTube: 6-9 p.m., 12-3 p.m., and 3-6 pm.
• X (previously Twitter): 12-3 p.m., 6-9 p.m., and 3-6 p.m.
• Instagram: 12-3 p.m., 6-9 p.m., and 3-6 p.m.
• LinkedIn: 3-6 p.m., 9 am-12 p.m., and 12-3 p.m.
• TikTok: 6-9 p.m., 3-6 p.m., and 12-3 p.m.

Moreover, entrepreneurs say Saturday and Friday (respectively) are the most effective days to publish throughout social media platforms.

Again to You

One query stays: what channels are greatest in your social media advertising and marketing? Must you keep on with mature platforms, like Fb and YouTube, or check the waters with new platforms, like TikTok?

In the end, your choice ought to hinge on one essential issue: your target market. Placing your viewers on the heart of your social media technique means prioritizing the platforms that may attain them most successfully.

And keep in mind, social media advertising and marketing is all about experimenting. There is no have to commit to at least one platform for the remainder of time — the truth is, it might be helpful to run facet experiments on completely different platforms to see what outcomes you get.