Number of Businesses On Social Media (Data & Statistics)

Number of Businesses On Social Media (Data & Statistics)

Published On: May 15, 2024
how many businesses use social media

While we assume every business is on social media… that’s just not the case.

(Or at least everyday, driving revenue all the time.)

Turns out, it’s a lot more fragmented than you’d think. Many try organic posting, doesn’t work. Then they try paid ads. Doesn’t work.

The statistics on number of businesses on social media:

There are an estimated 31.86 million businesses on social media.

Supporting data:

The number of total businesses (that exist) in the United States is 33.19 million — and because 96% of small businesses use social media, we can conclude 31.86 million are on social media.

However, only 41% of businesses are using social media to drive revenue. This means an estimated 55% of businesses have an low-commitment or unsuccessful social media strategy.


Analysis:

For the average everyday business, social media has become a go-to platform for them to connect with their audience, enhance brand visibility, and fuel growth.

According to the statistics above, there are around 31.86 million businesses active on social media in the U.S. Given that there are 33.19 million businesses in the country, this means 96% of small businesses understand the importance of being on social media.

But here’s the kicker: only 41% of businesses are using social media to actually drive revenue. That means a whopping 55% have either a lackluster or outright ineffective social media strategy. This gap is a missed opportunity for many businesses not fully capitalizing on the potential of social platforms.

What’s going wrong?

Well, some businesses don’t have a clear social media strategy, leading to sporadic and inconsistent posting.

Others might not be using the right tools or analytics to measure how their campaigns are performing, which means they can’t adapt and improve their approach. Some businesses might also undervalue the importance of quality content and engaging with their audience, focusing more on simply being present rather than creating meaningful interactions.

To close this gap, businesses need a more strategic approach to social media. This means:

  • Setting clearly-defined goals based on KPIs
  • Understanding their target audience, especially on the specific social app they’re using
  • Creating a content calendar to ensure consistent touchpoints with followers on their feed

Investing in social media management tools that provide insights into engagement metrics and campaign performance is also essential.

Education and training are crucial too. Businesses need to keep up with the latest trends and best practices in social media marketing to stay ahead of the game. By doing this, they can turn their social media efforts from a low-priority activity into a powerful revenue-driving strategy.

What should we take away from businesses on social?

In a nutshell, while most businesses have a presence on social media, many aren’t making the most of it to drive revenue.

Many businesses will try at first, but quickly give up once they don’t see results.

By taking a more strategic, data-driven approach, businesses can unlock the full potential of social media and see significant growth.

Sources:

https://advocacy.sba.gov/2023/03/07/frequently-asked-questions-about-small-business-2023/

https://www.webfx.com/social-media/statistics/