As we close out the first month in a new year there is no doubt that as a small business owner you’ve given thought to your social media strategy. If you haven’t, you should, Social Media IS BUSINESS and failure to innovate and get online will ultimately lead to your demise, but enough of that for now.
The market research company Sprout Social has just released it’s 2020 social media demographics for marketers report and, with it comes some great insight that every small business should know. In this article we are going to take a look at the Grand Daddy of them all, Facebook.
After 15 years of operation, Facebook is still one of the most used social media platforms in existence. In the United States, Facebook ranks as the second highest used social platform, just behind YouTube. According to Pew Research an average of 69% of all US adults use Facebook. Even more impressive is that out of those 69% roughly three-quarters of Facebook users visit the site on a daily basis, but you already knew that.
Facebook Usage Among Key Demographics
The majority of Americans in all age groups use Facebook. In fact, According to Omicore, 62% of online Seniors aged 65+ are on Facebook. However, it is important to note that Facebook usage among teens has dropped in favor of other platforms like YouTube, Instagram, Snapchat, & Tiktok. The social media platform also leans towards women with 75% of women and 63% of men using the platform on a regular basis.
Sprout Social breaks down the demographics of Facebook by age the following way.
51% of 13–17 year olds use Facebook
76% of 18–24 year olds use Facebook
84% of 25–29 year olds use Facebook
79% of 30–49 year olds use Facebook
68% of 50–64 year olds use Facebook
46% of 65+ year olds use Facebook
Facebook on a Global Scale
Facebook continues to have a global market reach in 2020 making it very easy for small businesses, brands, entrepreneurs, and large companies to compete and reach an audience in the world market. Now more than ever, if a business’s social media strategy is executed properly, they should be able to reach their target audience and network on a global scale. India leads the world in the number of Facebook users with just under 269 million registered accounts. The United States is in second place with 183 million users, and Indonesia rounds out the top three countries with just over 123 million users.
US Regional Breakdown of Facebook Users
Sprout Social breaks down those 183 million US users even further though. The research site shows that out of the total number of users, 73% of user live in an urban area, while 69% live in a suburban area, and 66% live in a rural area. No matter where they live, US citizens are using Facebook.
Even more insightful is that 61% of US Facebook users have a high school education or less. 75% of US users have some college education, while 74% of US Facebook users have more than a college education.
Follow the Money
This is where it gets interesting for small business owners, brands and big-name companies. Sprout Social reports that in 2020 the average income demographics for Facebook is the following.
69% of those in the US who use Facebook make less than $30k a year.
72% of US Facebook users make $31k-$74,999 a year.
74% of US Facebook users make more than $75k a year.
Out of all the statistics listed in this article the “Follow the Money” information is the most interesting for me as a small business owner. When consulting with small business owners it’s important that they realize that in order to drive more sales, gain more prospects and grow their businesses they have to go where the money is.
As 2020 continues social media usage will continue to grow. According to Hootsuite
1 million new people joined social networks every single day in 2017 and there is no sign of slowing down. Social eCommerce is projected to grow by 30% in 2020. While it’s still too early to predict numbers, all the largest and wisest marketing firms are now paying attention to Social eCommerce.
Social media is a huge part of everyday life for most of us. It presents a great opportunity for a business to spread awareness, make sales, and create a loyal community. In short, if you want to grow and expand your business, you need to be where the people are (cue Disney song) and for now, people are on Facebook, which means you should be there too.
Charles Watson, M.B.A. ,T.M. Digital Content Strategist / Founder
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