5 Social Media Trends Your Business Must Know in 2024

These are the trends your business should pay attention to

Author

Jordan Scheltgen
August 20, 2024

Let's explore five key social media trends in 2024 reshaping the landscape and how your business can leverage them for growth.

1. Increased Daily Social Media Usage Across Platforms

Key Takeaway: Users are spending more time than ever on social media platforms.

Recent statistics reveal a significant increase in daily social media usage:

  • TikTok: 95 minutes

  • Instagram: 49 minutes

  • YouTube: 46 minutes

  • Facebook: 33 minutes

  • Twitter/X: 31 minutes

What This Means for Your Business: With users spending substantial time on social platforms, your brand needs to establish a strong presence where your audience is most active. Implement a robust social media marketing strategy to increase brand visibility and engage with potential customers.

2. The Growing Importance of Social Search

Key Takeaway: Social media platforms are becoming popular search engines, especially among younger generations.

  • 46% of Gen Z prefer using social media for searches over traditional search engines

  • 35% of Millennials are following this trend

How to Optimize for Social Search:

  1. Create searchable, evergreen content on platforms like TikTok and Instagram

  2. Use relevant hashtags and keywords in your posts

  3. Focus on video content that answers common questions in your industry

By optimizing for social search, you can capture users at different stages of the buying journey, particularly those closer to making a purchase decision.

3. Multi-Platform Strategy is Essential

Key Takeaway: The average user is active on multiple social media platforms.

Implementing a Multi-Platform Strategy:

  1. Tailor content for each platform's unique audience and format

  2. Repurpose content across different platforms to maximize reach

  3. Understand user intent on each platform (e.g., professional networking on LinkedIn vs. entertainment on TikTok)

A comprehensive multi-platform approach ensures your brand message reaches your audience across various touchpoints, increasing brand recall and engagement.

4. Rising Ad Costs and the Need for Organic Strategies

Key Takeaway: Social media advertising costs continue to increase, particularly on Facebook and Meta platforms.

Strategies to Combat Rising Ad Costs:

  1. Focus on reducing cost per lead and customer acquisition costs

  2. Increase customer lifetime value through retention strategies

  3. Invest in organic social media content to supplement paid advertising

  4. Utilize email marketing and SMS campaigns for customer retention

By balancing paid and organic strategies, you can maintain a strong social media presence while managing costs effectively.

5. Video Content Dominance in Social Media Marketing

Key Takeaway: Video content is no longer the future – it's the present of social media marketing.

Incorporating Video in Your Social Media Strategy:

  1. Create short-form videos for platforms like TikTok and Instagram Reels

  2. Develop longer, informative content for YouTube

  3. Use live video features for real-time engagement with your audience

  4. Repurpose video content into shorter clips for various platforms

Embracing video content can significantly boost your engagement rates and help your brand stand out in crowded social media feeds.

This was originally posted on Cave’s Blog: 5 Macro Social Media Trends for 2024