These Top 5 Social Media Platforms Are Stealing the Limelight

“Social media” has gone far beyond the usual “neighbors meeting over coffee to gossip about other neighbors”! The launch of Facebook in 2004 upturned our social connectivity and engagement in a way no one had ever imagined! Today it is one of the best platforms for social media.

Today, there are 4.65 billion social media users on the planet, which is equal to nearly 60% of the total world population. Most of these users rely on social media as their primary information source. Each platform tries to attract and retain users by providing them with news, information, tips, product details, and buying and selling opportunities.

Growth Jockey, a leader in the digital and social media marketing space, estimates that there are over one hundred social media platforms available today in several distinct categories such as:

1. The traditional social networking sites

2. Image and video-sharing sites

3. Social review sites

4. Community blogs

5. Video hosting sites

6. Discussion sites

7. Sharing economy networks

Many social media platforms like Weibo in China are primarily localized regarding users and language and are not necessarily global in reach and use cases. But localized or globalized, social media is today the defining activity of many of us worldwide. The sound of notifications on our mobile phones is a constant backdrop to our daily routine on weekdays or weekends.

Recent data shows that the average person spends 144 minutes on social media daily. That’s about 2.5 hours every day. Nigeria, the Philippines, and India lead the pack when it comes to time spent on leading social media platforms.

The Covid pandemic led to huge growth in social media platforms so that people separated by geography or lockdown regulations could stay in touch, get help, support each other, and buy the goods and services they needed. This growth of social media and online platforms as two-way communications spurred brands to jump onto the social media bandwagon to promote their brands, engage their customers, and even sell through e-commerce platforms.

Growth Jockey monitors trends and directions in the social media space and tracks the leading social media applications globally. The top five social media applications that are stealing the limelight today are given

Facebook

• The first online social networking site in the world

• Launched in 2004

• Now part of Meta Platforms launched in 2021

• 2.9 billion monthly active users

• The majority of users are in the age band of 25 – 40 years

• It is considered the best platform for social media today

YouTube

• The world’s first online video-sharing platform

• Launched in 2005

• Owned by Google

• YouTube is also the 2nd most used “search engine” after Google!

• 2.2 billion monthly active users

• The majority of users are in the age band of 15 – 35 years

WhatsApp

• WhatsApp is an instant messaging and voice-over IP (VOIP) service

• Launched in 2009

• Part of Facebook / Meta

• 2 billion monthly active users

• The majority of users are in the age band of 15 – 45 years

• India is the biggest market for WhatsApp, with nearly 400 million users

Instagram

• Instagram is a photo and video-sharing service with the facility of adding filters to edit the media

• Launched in 2010

• Part of Facebook / Meta

• 2 billion monthly active users

• The majority of users are in the age band of 15 – 29 years

TikTok

• TikTok is a short-form video-hosting service

• It is the international version of the Chinese app “Douyin.”

• Launched in 2016

• TikTok is owned by the Chinese company ByteDance

• 1 billion monthly active users

• The majority of users are in the age band of 10 – 29 years

It is also important to note that all the latest social media apps and sites are available as desktop websites and mobile apps. Some apps, such as Instagram, have more functionalities on the mobile version than on the desktop.

There are other growing platforms for social media, such as Twitter, Snapchat, LinkedIn, and Reddit, but these are either aimed at specific audiences or are “me-too” versions of other apps. They command a growing user base but do not necessarily rank as the most engaging platforms for social media. Some social media applications, such as Pinterest and Snapchat, are struggling to develop unique functionalities and are facing an uphill struggle to get new users and app downloads.

Growth Jockey has also drawn a small but significant distinction between social media apps used for personal interactions and those used for business goals. Many social media platforms listed above also develop use cases for business requirements, with varying degrees of success.

The top social media applications for business are given below:

• Facebook

• Instagram

• LinkedIn

• YouTube

• Twitter

Conclusion

Social media is here to stay. With the growth of smartphones and mobile data becoming cheaper in most countries around the world, more and more people are using social media to be connected with the world and their neighbors.

The social media space is very dynamic and competitive. The relatively young global population (below the age of 30 years and called “Millennials” or “Gen Z”) are a significant audience that has grown up using digital and social media. This segment will drive growth and innovation in social media channels. At the same time, one needs to be aware of the challenges of social media and prepare themselves with a bullet proof strategy.

Growth Jockey has found through its research that social media is no more a platform for personal connections but is rapidly scaling up and changing in character to become a powerful business channel for brands to promote themselves and push online purchases. The next five years will see a greater merging of personal and business uses by the leading social media apps as they fight to grow their user bases.

At Growth Jockey, we are committed to delivering personalised solutions that effectively address the unique challenges faced by our clients across diverse industries. Whether you run a small-scale enterprise or a large corporation, we help you harness the power of social media to drive your brand's growth.

Get in touch with us today to boost your social media presence !