Digital 2024: End of Year Update

As we sprint through the final quarter of 2024, the digital landscape is hitting milestones faster than ever before. The newly released Digital 2024 October Global Statshot Report, a collaboration between We Are Social and Meltwater, is a treasure trove of data, offering insights into internet adoption, social media behaviours, and the rise of generative AI.

Buckle up – we’re diving into the numbers that matter, the trends that’ll shape tomorrow, and what all this means for marketers trying to stay ahead of the game. Spoiler: the world is getting more connected, but how we use that connection is shifting in intriguing ways.

5.5 Billion Internet Users: The Online Universe Expands

With the global population sitting at 8.18 billion (according to the United Nations), internet users have smashed through the 5.5 billion mark. This means 67.3% of humanity now has internet access. And we’re not just logging in; we’re living online.

The average internet user spends 6 hours and 36 minutes online every day, an uptick from earlier this year. That’s more than 46 hours a week – over 15% more time than the average workweek. Think about that: nearly 40% of our waking lives are spent online. Whether streaming Netflix, shopping on Amazon, or scrolling through TikTok, the internet is the arena where brands must fight for attention.

Marketing Takeaway: Time Is Money

Marketers, take note: with so much time spent online, the competition for eyeballs is fiercer than ever. Whether it’s a snappy TikTok ad or a strategically placed blog post, ensure your content hooks people in the first few seconds.

ChatGPT: Not Just a Passing Fad

Generative AI is here to stay, and ChatGPT is leading the charge. Between June and August 2024, the ChatGPT mobile app ranked among the top ten breakout apps for monthly active users, standing shoulder to shoulder with giants like TikTok and Instagram.

Here’s the kicker: ChatGPT.com saw 392 million unique visitors in August, with total site visits topping 3.1 billion for the month. That’s a staggering amount of interest nearly two years post-launch.

Marketing Takeaway: AI Is an Ally

Marketers should be leveraging AI tools like ChatGPT for everything from brainstorming captions to crafting full-blown campaigns. Automating the grunt work frees up your team to focus on the creative elements that truly differentiate your brand.

Social Media: Adoption Soars While Time Dips

Social media has hit an all-time high in terms of adoption, with 5.22 billion user identities globally – a 5% increase year-on-year. But here’s the plot twist: time spent on social media is declining. The average user now spends 2 hours and 19 minutes daily, down from 2 hours and 31 minutes in 2022.

Why the drop? People are becoming more discerning, engaging with platforms more intentionally rather than endlessly scrolling. Interestingly, the share of users who feel they spend "too much time" on social media has fallen to its lowest point since late 2020, while the belief that social media is “good for society” is on the rise.

Marketing Takeaway: Quality Over Quantity

This isn’t bad news for marketers – it’s an opportunity. Focus on creating meaningful, engaging content that aligns with what users truly value. Whether it’s thought-provoking videos or helpful product tips, aim for depth over breadth.

TikTok vs. Instagram: A Battle for Attention

The rivalry between TikTok and Instagram is reaching fever pitch. TikTok’s ad tools now claim a reach of 1.69 billion users, narrowly surpassing Instagram’s 1.688 billion. However, third-party data tells a different story: Instagram still boasts 50% more users than TikTok.

When it comes to engagement, TikTok reigns supreme. Users spend an average of 34 hours and 15 minutes per month on the platform, over double Instagram’s 16 hours and 49 minutes.

But Instagram fights back where it matters for marketers: 62.3% of its users research products and brands on the platform, compared to TikTok’s 49.7%.

Marketing Takeaway: Know Your Platform

TikTok is perfect for raw, viral content that demands attention. Instagram is where users go for deeper brand interactions. Depending on your goals – awareness vs. conversion – tailor your strategies accordingly.

Threads: Meta’s New Hope?

Meta’s Threads app has had a rollercoaster of a debut. After a record-breaking launch, user activity nosedived by 80% between July and September 2023, only to rebound in 2024. Now boasting 250 million monthly active users, Threads is once again gaining momentum.

However, engagement remains a challenge. The average Threads user spends just 34 minutes per month on the platform, compared to 5 hours and 19 minutes on X (formerly Twitter).

Marketing Takeaway: Test The Waters

Threads has potential, but for now, it’s a supplementary channel rather than a primary focus. Test the waters with low-cost experiments, but don’t divert too much budget away from proven platforms.

YouTube: The Unsung Hero of Social Media

With 2.53 billion ad-reachable users, it surpasses Facebook, Instagram, and TikTok in audience scale. And it’s not just about reach – users spend an average of 29 hours and 21 minutes per month on YouTube, solidifying it as the platform for meaningful engagement.

YouTube’s strength lies in its versatility and TV App. While long-form content like tutorials, vlogs, and documentaries remains its hallmark, often watched at home on TV, YouTube Shorts is shaking things up, amassing 70 billion daily views, especially on mobile. This blend of quick-hit videos and immersive storytelling makes YouTube a platform that caters to all content preferences.

Why YouTube Still Dominates

While TikTok leads in per-user time spent, YouTube’s massive audience scale translates to unmatched cumulative watch time. Add in the skyrocketing popularity of Shorts, and YouTube now captures attention across every content length and demographic. Plus, its integration with Google’s search engine gives brands dual visibility.

Marketing Takeaway: Go Long and Short

To win on YouTube, diversify your video strategy:

• Shorts for Discoverability: Hook viewers with snappy content like teasers, viral challenges, or quick tips.

• Long-Form for Depth: Build trust with tutorials, product deep dives, and evergreen content.

• Creator Collaborations: Partner with influencers who excel in either Shorts or traditional YouTube content.

Whether you’re storytelling through 60-second bursts or extended narratives, YouTube delivers both scale and engagement. If you’re not investing here, you’re leaving money on the table.

QR Codes Are Cool Again

Surprise! QR codes have gone mainstream. Over 50% of global internet users now scan QR codes monthly, up from 44% in 2022. But here’s the twist: while QR code use is soaring worldwide, adoption varies greatly by region. Countries in Asia and Latin America lead the charge, with China unsurprisingly topping the charts. What’s more unexpected? Switzerland takes the second spot globally, proving that QR codes aren’t just for bustling metropolises.

However, Europe and North America aren’t quite as enthusiastic. Both the USA and the UK languish near the bottom of the rankings, suggesting camera-based web navigation hasn’t fully captured hearts in these regions yet. Interestingly, it’s users aged 35-54 who are driving QR code momentum – not the younger demographics you might expect.

Marketing Takeaway: Bridge the Gap

QR codes are a seamless way to connect offline campaigns with online experiences, especially in regions where adoption is high. If you’re targeting Asian or Latin American audiences, integrating QR codes into your strategies is a no-brainer. Whether on packaging, billboards, or menus, these scannable tools can deliver immediate, interactive brand experiences. For audiences in North America or Europe, however, you may need to get creative – educate and incentivize users to pull out their phones.

Meta Still Rules the Social Kingdom

Meta platforms dominate the social media scene. Here’s the breakdown:

• WhatsApp: 2.3 billion monthly active users

• Facebook: 2.25 billion monthly active users

• Instagram: 2 billion monthly active users

• Threads: 250 million monthly active users

Meta’s combined ecosystem reaches 3.27 billion daily users, dwarfing all competitors. For marketers, this consolidation is both a blessing and a challenge: more options, but also more complexity.

Marketing Takeaway: Embrace the Ecosystem

Meta’s platforms cater to diverse audience needs. From Instagram’s visual storytelling to WhatsApp’s untapped ad potential, experiment with the full suite to find what resonates.

Key Takeaways for Marketers

1. AI Is Transforming Marketing: Tools like ChatGPT can streamline workflows and enhance creativity.

2. Video Is King: Platforms like TikTok and YouTube dominate engagement, making video content non-negotiable.

3. Adopt a Multichannel Strategy: With users active on an average of 6.8 platforms monthly, diversify your efforts but prioritize based on your audience and goals.

4. Stay Agile: Platforms like Threads may not seem critical now, but the landscape changes fast. Keep testing and iterating.

5. Engagement Beats Reach: Social media time is down, but adoption is up. Focus on creating memorable, meaningful interactions.

As 2024 draws to a close, one thing is clear: digital marketing is more dynamic than ever. The brands that succeed will be those that adapt quickly, experiment boldly, and keep their focus on what matters most – delivering value to their audience.

Ready to dominate 2024’s digital landscape? Contact us at B3 Marketing to craft strategies that win.