Top Social Media Platforms Offering Marketplace Features In 2024
In 2024, Facebook remains the most popular social media network, but the platforms that rank below have changed.
Popularity is not the only factor that counts for companies who use social media for marketing. Understanding who utilizes each platform and what kind of materials are most effective is also crucial. Do you know which platform is best for emotional material, for instance? Or does that material about higher education do particularly well on Instagram?
Although you will still get statistics and demographics for each platform, this is not your usual list.
Facebook is the most widely used social networking site for...
Well, pretty much everything. It is the world's biggest platform and a great option for almost everything due to its adaptability. However, it works particularly well for:
Local marketing
Did you know that, along with Google My Business, Facebook is one of the most popular local business directories? This makes sense when you take into account the following features of a Facebook company page:
- Price range, category, and description
- Photos, business hours, and contact details
- Instant chat, reviews, and a call-to-action button
Approximately 60% of Facebook users check out local business pages at least once every seven days. In order to engage with your local community, maintain customer updates, and cultivate connections, be sure to promote your page.
Advertising
Facebook is a terrific place to interact with individuals who are already aware of your brand, but it is not the ideal way to naturally attract new consumers. In actuality, Instagram's 9.4% organic reach is far more than its 2.2% reach.
Nonetheless, Facebook and Google continue to be among the leading digital advertising platforms. Facebook has the biggest reach of any social media network, reaching up to 36.7% of adults (X has the lowest at 6.5%).
Facebook users typically click on 12 advertisements per month, which enhances ad effectiveness on other platforms and increases brand exposure. Google Search has a 4.40% conversion rate and a $56.11 cost per conversion, whereas Facebook has an average conversion rate of 9.21% with a cost per conversion of $18.68.
With $0.49 per click and a 3.06% click-through rate, Facebook is more cost-effective than Instagram, which charges $1.09 per click and has a 0.68% click-through rate.
The 65+ age bracket is the one with the fastest-growing Facebook ad reach, according to Influencer Marketing Hub. This group increased by 25% in 2021. Although the 25–34 age group is still the most popular on Facebook, this indicates that Facebook is the platform of choice for those 65 and over.
Links and photos
This is an intriguing discovery. The most popular branded post formats on Facebook, according to Statista, are images and links (videos and status updates are much less frequent). But this merely shows how many posts they have; not how many people interact with them. Posting videos might help you stand out from the competition, even if links and images are common since they are simple to make.
Community and relationship-building
Facebook's limited organic reach should not deter you from connecting with your audience. A lot of people check a company's Facebook page for news, special offers, shop hours, and other pertinent information. You will not have to worry about showing up in their feeds if you use your page in this manner since your loyal followers and customers will know to visit it often.
You may concentrate on interacting with those who are already on your page, establishing dialogues, answering comments, and promoting direct messaging.