Global Social Media Trends 2024

In this article, I will be talking about current social media trends based off of the Social Media Trend Report 2024, posted by HubSpot.

When it comes to social media, a trend refers to a post, topic or an idea that is constantly gaining traction or popularity for prolonged periods of time. This is based off of the number of times said topic has been discussed, shared or mentioned online.

The three social media trends of 2024 that I'll be talking about will be:

Social Media Trend 6, Social media teams see the highest ROI on YouTube, Facebook, Instagram, and TikTok

In terms of social media, what is ROI? ROI (return on investment), is the outcome that one generates through social media marketing efforts. Whether that is increased brand awareness, customer engagement or the chance of elevated sales.

As of October 2024, according to DataReportal, Facebook has over 3.05 billion monthly users, Instagram has over 2 billion, Tik Tok has a potential reach of over 1.69 billion adults over the age of 18 and YouTube has over 2.53 billion users for potential advertising reach. From these stats alone, it is quite obvious to tell why the ROI is highest on these platforms.

As we can see from Gym+Coffee's Instagram page, rather than them using a generic link, they are using URL tracker, Bitly, to help tie clicks into specific campaign and calls to action. This allows them to track their clicks from Instagram onto any specific website or campaigns they are running.

From the table above, ROI on these platforms are quite high, the main reason for this is the amount of monthly total users per social media platform. Overall the concept behind it is quite simple, the more users on these platforms, the larger your potential reach is, the more traction your post receives, the larger the ROI will be.

Social Media Trend 7, Short-form video keeps on keepin’ on delivering ROI and engagement.

Short form videos such as Tik Tok and Instagram reels are some of the easiest and now most popular ways to increase potential and engagement. According to many different sources, the average attention span is around 8 seconds long, which means capturing attention is now more important than ever. According to Firework, videos under 90 seconds have a 50% viewer retention rate. Meaning shorter videos are more likely to be watched in full, leading to overall better message retention. 31% of marketers say that short-form videos offer the highest ROI compared to other formats like images and blog posts. The concise nature of these videos makes them much more effective in delivering messages and overall information.

From the above statistic, it highlights the direction social media marketing is going as a whole. Due to the overall high amount of monthly users on platforms such as Tik Tok, it shows us how important short-form videos actually is when it comes to social media marketing. Short-form videos often get more overall engagement (likes, comments, shares) than still images or longer videos, as they are quick to the point and don't require a lot of dedicated time to interact with the posts. Tik Tok's strong algorithm pushes videos to a global audience, widening the overall potential reach that your video may have. Short-form videos can include clear, direct calls-to-action, like asking your viewers to follow, buy, or visit a website. Since the overall message is brief and to the point, it often leads to quicker action and higher conversion rates than other content formats.

A great example of this can be seen here in one of Gymshark's most recent posts on Tik Tok. Its simple, yet effective way of advertising their Black Friday sale. Posting internal content (like texts) is low-cost while delivering high engagement, maximizing the return on minimal investment. By mentioning Black Friday and embedding their brand name, Gymshark can drive more people to their website for said sales event. By turning simple moments into engaging posts, Gymshark effectively uses short-form content to build brand awareness, drive traffic to their website and pages, and enhance customer loyalty, all of which contribute to a higher ROI.

Social Media Trend 8, Audiences are connecting with relatable, authentic content that shows brand values

As a consumer, authenticity, relatability and transparency stand out most as a brand. Authenticity shows that a brand is genuine, and doesn't focus solely on sales. This helps to foster and build trust amongst customers. Relatable content helps audiences feel understood, potentially making them more likely to engage with and support the brand. Highlighting brand values aligns content with the audience's beliefs, strengthening connection and potentially building long-term relationships with that company.

From the above stats, we can see how big of a roll relatable/authentic/brand value content plays in the largest shares of ROI. Brands can tap into the topic of storytelling when it comes to their overall marketing and social media campaigns. This allows brands to connect with their customers on a deeper, emotional level. By sharing real genuine stories of peoples whose lives have benefitted from using their products or services, brands can create an overall sense of trust and relatability. Consumers appreciate brands that are open and honest about their practices and values. By being transparent, brands can build a strong sense of credibility and foster long term relationships with their audience.

An example of this authenticity can be seen on Ben and Jerry's X/Twitter page. They have numerous recent Tweets regarding the US Election and other social issues that are prominent in the world today. They are also quite active in regards to racial injustice, fair trade issues and a greener Earth.

From the above breakdown, we can see Ben and Jerry's carbon footprint on a standard tub of their ice cream, this shows that they acknowledge their environmental responsibility. This transparency with their consumers builds greater consumer trust, which may not be found with other big companies. By openly sharing this information, Ben and Jerry's strengthens their relatability with eco-conscious consumers and their reputation as an authentic, purpose-driven brand. It shows they are not perfect but are taking measurable steps to align their practices with their values.