Important Social Media Statistics All Small Business Owners Should Know

social media statistics

If you plan to stay competitive with your small business in 2020, then you should be tapping into the power of social media. Social media is a great way to find and engage with your target audience, promote your brand, and make sales — and all this within your budget!

But where are you at when it comes to strategic social media marketing?

If you have found a way to make social media work for you, then that’s great news! However, are you really maximizing the power of your social media marketing efforts?

Statistics gives you the power to make detailed decisions. From your choice of social media platform to the way you plan your social media strategies, statistics have a role to play.

What are the most important social media statistics to know in 2020? I’ll walk you through some of the most essential statistics you should, as a small business owner, be very familiar with.

Total Social Media Users

More than half the world’s population uses social media in 2020. In actual numbers, over 4.57 billion people use the internet. Out of that number:

  • Over 3.96 billion people are active on social media. That’s about 51% of the world’s population.
  • There has been 10.5% growth in the number of social media users between last year and this year.
  • When broken down by age groups, 48.2% of baby boomers use social media, 77.5% of Generation X uses social media, and 90.24% of Millennials use social media.
  • About 99% of people who use social media access it using their mobile phones.
  • However, three-quarters of social media users still access social media using laptop and desktop computers.
  • On average, users spend about 6 hours and 43 minutes on the internet daily.
  • Each of those internet users spends an average of 2 hours and 24 minutes on social media daily.
  • Facebook is the most used social media platform with an average of 2.7 billion monthly users.

Why not take this all a step further by looking at the statistics per social media platform.

Facebook Statistics You Should Know

By the end of the second quarter of 2020, Facebook was the leading social media platform. It has over 2.7 billion monthly active users — 1.79 billion of those are active daily. Let’s crunch the numbers even more:

  • 51% of people aged 13 – 17 use Facebook.
  • 76% of people aged 18 – 24 use Facebook.
  • 84% of people aged 25 – 30 use the platform.
  • 79% of people aged 30 – 49 use Facebook.
  • 68% of people aged 50 – 64 use Facebook.
  • 46% of 65+ year olds use Facebook.
  • Indians are the leading nationality on Facebook with over 290 million users.
  • They are followed by the United States with around 190 million users.
  • More women (75%) use Facebook than men (63%).
  • 74% of Facebook users log-in once a day.

Facebook Education Demographics

  • 61% of people with just high school education or less use Facebook.
  • 75% of people with some college education use the platform.
  • 74% of people with college degrees use Facebook.

Facebook Income Demographics

  • 74% of people making over $75,000 use Facebook.
  • About 72% of people making between $30,000 and $75,000 use Facebook.
  • 69% of those making less than $30,000 use Facebook.

Other Statistics to Consider

  • About half a billion people view Facebook stories daily.
  • 15% of Facebook users shop on the platform.
  • On average, Facebook users click on about 11 ads each month.

There is a high probability that your ideal customers are on this platform. You just have to find them and connect with them.

Instagram Statistics You Should Know

Instagram is one of the leading social media channels, and while its reach might not be as wide as Facebook’s, the numbers are still quite impressive:

  • 43% of women are on the platform, while only 31% of men use it.
  • About 72% of 13 – 17 year-olds are active on the platform.
  • Only about 8% of 65+ year-old people use the platform.

As you can probably already deduce, younger users are dominating this particular social media platform.

Instagram Income and Education Demographics

  • The United States has the most users on the platform with about 130 million users. They are followed by India with about 100 million users.
  • 42% of people making over $75,000 use the platform. 39% of people making $30,000 – $75,000 use the platform and about 35% of people that make less than $30,000 use the platform.
  • 43% of people with more than a college degree, 37% of people with some college education, and 33% of people with high school education or less use Instagram.

Twitter Statistics You Should Know

While Twitter statistics are a little lower than Facebook’s and Instagram’s, the platform still makes an excellent choice for your growing small business. Here are some stats to know:

  • 38% of Twitter users are ages between 18 – 29 years old while 26% are aged 30 – 49
  • Only about 7% of 65+ people are on Twitter.

Twitter is, much like Instagram, targeted mostly towards younger generations. Other Statistics to be aware of include:

  • While the USA is the country with the highest amount of Twitter users, most Twitter users are outside the United States; specifically 262 million out of the 330 million global users.
  • More men (24%) use Twitter than women (21%).

Twitter Income and Education Demographics

31% of people on Twitter that make over $75,000, 20% makes $30,000 – $70,000, and another 20% is making less than $30,000 a year.

Only 13% of people with high school education or less are on Twitter. 24% of people with some college education and 32% of people with more than a college education are on Twitter.

LinkedIn Statistics You Should Know

Although LinkedIn is more professionally-oriented and has fewer users than Facebook, Twitter and Instagram, there are still some useful statistics to know about the platform as they may need to be taken into account when deciding on your social media strategy:

  • 51% of LinkedIn users have at least a college degree. While 26% of people on the platform have some college education while only about 9% are those with a high school education or less.
  • More men (29%) use Twitter than women (24%).
  • People aged 25 – 30 are the highest on the platform at 44%. Only 17% of 18 – 24 year-olds use LinkedIn, 37% of 30 – 49 year-olds, 24% of 50 – 64 year-olds, and 11% of people aged 65+ use the platform.

Having trouble making sense of all these stats? Unsure how to apply your social media strategy and cater to your customers? You may want to consider hiring a social media manager.

If you would like to learn how we can help, schedule a discovery call today.