Craft Your 2024 Social Media Strategy with Data-Driven Insights

By Alexis Tate, Content Marketing Manager

Published: January 26, 2024

Are you preparing your 2024 social media strategy? Are you feeling overwhelmed trying to create a social media strategy a year in advance when it feels like algorithms change every 5 minutes? We get it. Creating a social media strategy often feels like trying to hit a moving target. That’s why our team uses data-driven insights to inform our strategy. Let’s look back on key insights from various platforms during 2023 and explore how you can use those data-driven insights to craft the most effective social media strategy for your business this year.

Instagram: The Power of Visual Storytelling

Instagram remains a powerhouse for visual storytelling, with carousel posts captivating audiences and showing the highest engagement rates for business profiles in 2023 at 0.76%. This indicates a clear preference for dynamic, multi-image content that tells a story. 

The meteoric rise of Instagram Reels is equally telling, with a staggering 1 billion shares through direct messages every day. This highlights the trend of creating sharable content to amplify your reach. In 2024, short, engaging video content is crucial in capturing your audience’s attention. Instagram continues to bring growth to business profiles, with an average monthly follower growth of 0.79%. You’re missing significant growth opportunities if your business is not leveraging Instagram to connect with customers and reach new audiences.

TikTok: The Hub for Entertainment and Engagement 

TikTok is the digital stage for entertainment, with 78.9% of social media users flocking to the platform for content. Leverage this preference for lighthearted content to guide your TikTok strategy, aiming to delight, entertain, and watch your audience grow.  

TikTok users spend an average of 23.5 hours a month on TikTok globally, demonstrating the addictive nature of the app and the opportunity to create sustained engagement. Additionally, the emergence of the TikTok Shop for in-app purchases is a gold mine for B2C businesses. TikTok shared that 2 out of 3 users are likely to make purchases while using the app. 

LinkedIn: The Professional’s Network

LinkedIn’s sprawling network of nearly 900 million active users represents an ocean of opportunities, particularly for B2B marketers. With 16.2% of users logging in daily (or approximately a cool 141 million), it is crucial to maintain an active presence and consistently engage with your audience. 

The adoption of LinkedIn’s “creator mode” also hints at a burgeoning space for thought leadership, inviting individuals and companies to contribute valuable insights while creating meaningful connections. Since its launch in 2021, creator mode has attracted 9 million users worldwide

Threads: The Emerging Contender 

While Threads may not boast the massive user base of its rivals, its projected revenue will be around $8 billion by 2025. This highlights a potential opportunity for businesses to “get in early” and carve out a space for themselves on the app. Users spend an average of 3 minutes daily on the app, with 10.3 million daily active users, indicative of a growing and engaged user base. 

Facebook: The OG

With nearly 3 billion individuals reachable through Facebook ads and a user base that eclipses the population of any single country, Facebook’s dominance is unchallenged. It remains an indispensable part of any social media strategy. The most active demographic is 25-34-year-olds (at 23.6%), so keep that in mind when creating content for the platform. 

X: The Rebranded Black Sheep

X, formerly known as Twitter, continues to serve as the platform where news breaks and trends emerge. The fact that a significant portion of users rely on it for news and current events highlights the importance of sharing real-time information on the platform. 

YouTube: The Platform for Influence and Information 

As the world’s second-largest search engine (crazy, right?!), YouTube’s importance cannot be overstated. With some 2 billion active monthly users dedicating an average of 11 minutes per session, the platform invites brands to engage with their audience through long-form video content. The success of YouTube Shorts also points to the platform’s ability to adapt to the growing demand for brief, engaging content. 

2024: The Year Your Business Creates a Winning Social Media Strategy 

For businesses creating their 2024 social media strategy, these statistics are key. By understanding and adapting to these trends, you can position your business to see real growth this year. Remember, the best strategy is one that aligns with your brand’s identity and audience’s preferences. 

Ready to win with social media in 2024? Let’s connect and turn these insights into action items! 

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