7 Key Insights from the Digital 2024: Global Overview Report

In the world of direct-to-consumer (DTC) marketing, we are firm believers that data is king. To best tailor your campaigns to your audience, you need to be able to understand how they are actually engaging with and accessing your content. That’s where the "Digital 2024: Global Overview Report" from Kepios, Meltwater, and We Are Social comes in.

Spanning over 550 pages, the report offers fascinating insights. However, if you prefer just the headlines with your coffee, we've got you covered.

1) The power of the For You Page (FYP)

Videos tagged with #FYP (For You Page) on TikTok have accumulated over an astounding 55 trillion views! (Even if each view was only a second long, that’s 1.7 million years spent watching TikTok videos). The report also reveals that Android users spent an average of 34 hours per month using the app. Nevertheless, only 6 in 10 TikTok users open the app daily, a very similar frequency to other social media platforms such as Facebook, Instagram, and YouTube.

2) Not just for business

LinkedIn's popularity is on the rise, boasting over 1 billion registered members—an annual growth of nearly 14%. The platform's reporting tools indicate that marketers can reach 1.03 billion users with LinkedIn ads. However, the report also highlights that only 1 in 3 LinkedIn users visit the platform each month. Any content on LinkedIn needs to be engaging but relevant to the platform itself.

3) The ascent of digital marketing

Digital marketing now constitutes 70% of global ad spend. In 2023, marketers allocated over a trillion dollars to ads, with 720 billion dollars of that directed towards digital channels.

4) Instagram reigns supreme

Instagram has earned the title of the world’s favourite social platform. The report discloses that 16.5% of working-age social media users now declare Instagram as their preferred platform, with Facebook ranking third and TikTok fifth.

5) TikTok and advertising

However, when it comes to ads, it’s a different story. TikTok is experiencing rapid growth, with a global ad reach of 1.56 billion, trailing just slightly behind Instagram's 1.65 billion. It's worth noting that TikTok only reports ad reach for audiences aged 18 and above, making the figures almost identical to its competitors when focusing solely on the adult reach of social platforms.

6) The growth of Internet usage

The typical internet user now spends 6 hours and 40 minutes online each day. In perspective, this translates to the world collectively spending nearly 1.5 billion years using the internet in 2023!

7) Social media's enduring popularity

There are now more than 5 billion social media users, with an increase of 266 million users over the past year—an average of 8.4 new users every second in 2023. This growth actually intensified in the last three months of the year, indicating that social media use remains as popular as ever.

So, what does this all mean for Direct-to-Consumer brands?

The report signifies that audiences are more online than ever before. Digital platforms are a fantastic tool for your brand, enabling you to engage with a vast audience. DTC brands should think big while maintaining a personal touch. There’s a lot of noise in the digital world so it’s important to tailor your content to your audience in a way that’s genuine and reflects your values.