Top Social Media Statistics for 2020

It’s 2020 and social media has infiltrated every part of our lives. For many people, it’s used on a daily basis for socialization, entertainment, news, networking—you name it! Additionally, over the last 15 years, it has risen as one of the top vehicles for digital marketing that exists today.

That means, if you’re running a business (or even looking to sell something) social media is a great place to start. Over 40% of the world’s population is on social media. It’s a critical business device that helps companies fully reach their intended target.

Whether you are thinking of starting a campaign or pitching ideas to your boss, it’s important to lead with facts and real data. Here are some of the latest industry statistics

Amount of Users 

• There are now 5 billion people on social media worldwide.
• 321 million new people joined social media last year. This brought the total from 3.48 billion to 3.8 billion social media users (an increase of 9%) in 2020.
• 4% of Millennials, 77.5% of Generation X, and 48.2% of Baby Boomers are active social media users.
• There are 500 million active Instagram stories uploaded worldwide on a daily basis.
• Almost 50% of the world’s population uses social media.

Average Time

• Each person spends an average of 2 hours and 22 minutes on social networks and messaging every day.
• Millennials are logged on to social media for an average of 2 hours and 38 minutes daily while Gen Z logs on for 2 hours and 55 minutes.

How People are Using Social Media

• 54% of social browsers use social media to research products.
• 91% of all users on social media access social channels via mobile devices.
• 49% of consumers depend on influencer recommendations on social media.

Why People are on Social Media

• Social networks are the largest source of inspiration for consumer purchases with 37% of them finding it through the channel.
• 50% of consumers say that seeing user-generated content increases their chances of buying products through a brand’s social media platforms.
• 60% of teenagers follow advice from influencers over celebrities.

Social Media and Business

• 71% of consumers who’ve had a good social media service experience with a brand are likely to recommend it to others.
• 80% of online businesses are under the impression that they deliver exceptional social media customer service. Unfortunately, only 8% of their customers say they agree.
• 73% of marketers believe that social media marketing has been “somewhat effective” or “very effective” for their business.
• Social media is the most relevant advertising channel for 50% of Gen Z and 42% of millennials.
• Influencer marketing campaigns earn $6.50 for every dollar

Using Social Media Statistics Effectively

These trends demonstrate the importance of using social media to communicate with modern consumers. It’s critical to study these stats every year or so to focus your digital marketing efforts in the right direction. Data should always support your work and drive your social media marketing strategies.

Before beginning any campaign, use figures like this to better understand the state of the business world today. It’s about continuously meeting customers where they want to be met. This is what drives sales, increases engagement, and helps your business grow.