Originally published by LinkedIn.
In today’s digital era, social media is a big part of how we all connect. It’s evident that social media is not only witnessing a surge in users but is also becoming a pivotal arena for businesses and advertisers. The integration of AI is further transforming social media management, promising efficiency and innovation. Let’s take a look at some interesting facts to understand why having a good social media plan is so important in 2024.
1. SOCIAL MEDIA USE CONTINUES TO RISE
Did you know that social media now connects nearly 5 billion people globally, making up over 61% of the world’s population? In 2023 alone, social media witnessed a 4.5% increase in users compared to 2022. Users are not just growing in numbers; they’re also spending more time on these platforms averaging around 2.5 hours per day on these platforms, constituting more than a third of their online time.
In terms of users, that puts social media on track to overtake linear TV by 2025.
TAKEAWAY: Investing time and energy on social media is key to building your brand. Get noticed by engaging with your audience.
2. SOCIAL MEDIA BECOMES KING OF ADVERTISING
Digital advertising is booming, with over $601.84 billion invested in 2023, expected to reach $802 billion in 2026. Social media ads play a significant role, with an estimated $75.08 billion earmarked for paid advertising on social platforms in the US in 2024. This accounts for an average of 19% of an organization’s total marketing budget, nearly equal to TV ad spending.
TAKEAWAY: Make paid social ads an integral part of your marketing plan, ensuring you stay ahead in this dynamic landscape.
3. USE OF AI FOR SOCIAL MEDIA MANAGEMENT
AI tools have saved time and created a more efficient workflow for more than 80% of marketers. HootSuite’s survey highlights a 136% increase in the use of AI for image creation by social media pros in 2024. Midjourney, DALL-E, and Stable Diffusion are the most popular image-generation platforms for social media pros. These platforms create images in a matter of seconds, saving marketers a lot of time and money. In addition to creating images, AI is also powering social media tasks like creating compelling captions, content scheduling, social listening, competition research, data collection and analysis, and KPI reporting.
TAKEAWAY: In 2024, not using AI tools means not just losing time but also missing out on great chances to do things better and faster.
4. SOCIAL PLATFORMS INTEGRATE AI FEATURES
AI has been a part of social platforms for years, handling tasks such as suggesting posts and targeting ads. The latest advancements in AI technology are making social media ad creation easier than ever. Meta, YouTube, and LinkedIn are rolling out innovative AI features for marketers and users.
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Meta: Launched in October 2023, Meta’s in-app generative AI tools empower marketers to effortlessly expand images, create backgrounds, and re-write ad text, saving up to five hours per week.
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YouTube: In 2024, YouTube is set to unveil “Dream Screen,” an AI tool that creates backgrounds for videos and static images on YouTube Shorts.
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LinkedIn: Targeting professionals, LinkedIn plans to introduce “Recruiter 2024,” an AI-powered assistant for HR officials. For job seekers, LinkedIn Learning’s chatbot provides tailored advice based on career goals and skills.
TAKEAWAY: The giants are using AI to connect better, provide value to their consumers, increase productivity, and save time. Why are you lagging behind?
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