Top 10 Social Media Platforms List
By Robin Anderson
Did you know that there are over 100 Social Media sites?
With so many social media platforms, how do you know which is right for your startup business?
Social media platforms have been around for years. Companies, individuals, and even dogs are trying to attract interest in themselves or their product. On social media, you are not only competing with those in a similar business field, but with every single participant on the platform, and yes, that includes dogs. Grabbing attention is challenging and complicated.
And while you may be anxious to get started promoting your startup through posts, DON’T DO IT. Take a moment to develop a social media marketing strategy, identify your goals, and set metrics for success.
“Just showing up and being active on social media gives you no inherent results. If you don’t have a strategy—you don’t know who your audience is and what your key messages are—it won’t work. The algorithms are too smart and the competition is too fierce”
Why it’s important to have a social media presence
Research has shown that 78% of consumers will buy from a brand after a positive experience on social media. More specifically, consumers turn to social media to find new brands, make a purchase, and make a recommendation. How often have you learned about a new brand, such as Bombas for example, through social media? Running ads, when targeted appropriately, works.
While consumers have become reliant on social media to learn, buy and share, they also have developed an expectation of the level and quality of interaction with a brand - fun, friendly, and helpful with an ability to respond to an inquiry within 24 hours.
Because of this, the data and insights gleaned from social media will become a greater source for businesses when making decisions related to the customer experience.
Why people use social media
People use social media for a wide variety of reasons. “Staying in touch with friends and family” still tops the list for reasons for using social media fulfilling the need to connect with other humans, to be a part of a group. Following closely behind connecting is news and entertainment. Over 25% are looking for products to purchase. Which represents a great opportunity for brands to advertise to reach their target.
With over 100 social media platforms, you may or may not be surprised to know that the average number of social media accounts per internet user is 7.1, with users spending 2 hours and 7 minutes on social media daily. With user’s spending so much time and attention on social platforms, this will likely be the most effective way to reach them at the lowest cost provided that you are focusing your efforts on the platforms where your personas are most likely to be participating.
Top 10 Social Media Platforms List
We sorted through reference guides and blog posts to consolidate the demographics of the most popular social media platforms for businesses into one place. From the number of active users, the most active age group, gender, to amount of time spent on the platform, all included in our table. In addition, we added one last column that shares an additional insight about each platform. Take a look at our social media platforms list to figure out what is the right platform to market your business.
As you begin creating your social media marketing strategy to reach your target audience to generate awareness, begin by identifying your persona. Understanding their demographics and characteristics will help you determine the best platforms to target. Next, it’s important to know what types of content will resonate the most with your target audience. And since it’s not necessary to be everywhere, afterall your persona’s aren’t on all platforms, pick a few and establish a strong presence where they spend most of their time. Consider additional ways to drive awareness by increasing your exposure through paid ads, influencer recommendations, and customer referrals. And finally, measure. Follow the numbers to see what is working and what is not.
Five additional social media platforms to watch
As new social media platforms become available, and current ones add new features to mimic the newest trendier styles, always be on the lookout to where you can capture eyeballs before your competition. As noted before, when picking the right social media platform make sure the choice is based on your primary users and where they are on social media. Also know that the social media landscape is every-changing. Below are five platforms, some of which have been around for awhile yet have loyal users, that you should to monitor and consider for future reach and engagement:
Social Media Trends
According to Sprout Social social media trends highlight the importance of video and incorporating new technologies. The trends include:
Live streams. Live streaming became mainstream as a result of the pandemic.
Instagram Stories and Reels are a thing. Video outperforms photos. Stories can include images, other posts, and disappear after 24 hours. Reels are video only, 30 seconds long and stay on your profile.
Virtual Reality gives users a way to have more meaningful interaction with others.
Augmented Reality is already in use by Warby Parker. Through their app, users have the ability to try on new frames which they can then purchase.
Social commerce gives users the ability to make a purchase from their social media platform, rather than having to go to the company website to buy.
Purpose-driven campaigns are more and more important to customers. They want to see company’s supporting important social causes.
Promoting inclusivity and diversity is top-of-mind. Customers want companies to be more inclusive, such as Fenty Beauty by Rihanna - offering 50 different shades for their foundation compared to the mainstream beauty company and their 8-12 different shades.
Authenticity and transparency are key. To reach, engage and connect with your customers will require being authentic and real, even when you make a mistake.
Social media is no longer simply another marketing tactic to reach customers. It’s THE way to drive awareness and engage with them. And yet, it is so much more. Social media is where you start to build a relationship with them. Interact. Make your customers a part of how your company builds and communicates. It is no longer the customer journey, it is EVERYONE’S journey.
For some fundamental social media tips, take a look at our “How to restore engagement with social media” blog.
FunFact Friday
On March 23, 2021, Jack Dorsey sold his first tweet for charity as an NFT for over $2.9m. The tweet, published on March 21, 2006 said “just setting up my twttr”.
