Best Social Media Platforms in 2024 [Tier List]

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Written by

Nicholas Arce

Published on

October 5, 2024
BlogDigital Marketing

I stumbled upon an eye-opening video by Alex Hormozi that broke down the effectiveness (with data) of various social media platforms. As I watched, I found myself furiously taking notes and realized that anyone reading this could walk away with some super valuable knowledge that may reshape how they plan their marketing content.

In this post, I’ll break down Hormozi’s analysis of each major platform, including their rankings, key statistics, and what makes them stand out (or fall behind).

By the end of this post, you’ll have a clear picture of where your time and resources might be best spent in the ever-evolving digital marketing arena.

Tier List of Social Media Platforms

If you are just in a rush; here are the platforms laid out by tier. The most surprising to me was his ranking of TikTok. I wasn’t expecting that ranking and I break down what Alex mentions as to why this rating came to be.

ScorePlatforms
S TierYouTube and Instagram
A TierFacebook, X, and Newsletter
B TierLinkedIn and Podcast
F TierTikTok

Platform Metrics

Let’s view the metrics of each platform.

Alex has a few criteria that he uses to rank each platform and pulls some data from a research paper by pew research as well as his own internal metrics on each platform.

Here is the criteria:

  1. How many households that make $100k a year use the platform?
  2. What percentage of the US population uses the platform?
  3. How easy is it to grow on the platform?
  4. How much time are users spending consuming content?
  5. How hard is it to convert a viewer?
  6. How much website traffic does it drive?

How many households that make $100k+ a year use the platform?

Platform% of households
Youtube (S Tier)89%
Facebook (A Tier)68%
Instagram (S Tier)54%
LinkedIn (B Tier)53%
TikTok (F Tier)27%
X (A Tier)29%
Newsletter (A Tier)Depends
Podcast (B Tier)Depends

What percentage of the US population uses the platform?

Platform% of US
Youtube (S Tier)83%
Facebook (A Tier)68%
Instagram (S Tier)47%
TikTok (F Tier)33%
LinkedIn (B Tier)30%
X (A Tier)22%
Newsletter (A Tier)92%
Podcast (B Tier)64%

How easy is it to grow on the platform?

PlatformScore
Youtube (S Tier)High
Facebook (A Tier)High
Instagram (S Tier)High
TikTok (F Tier)High
LinkedIn (B Tier)Med-High
X (A Tier)Medium
Newsletter (A Tier)Low
Podcast (B Tier)Low

How much time are users spending consuming content?

PlatformTime Engaged
Podcast (B Tier)20 Minutes
Youtube (S Tier)8.5 Minutes
Youtube shorts33 Seconds
Instagram (S Tier)12-20 Seconds
TikTok (F Tier)5-20 Seconds
Newsletter (A Tier)40% Open Rate
LinkedIn (B Tier)Unknown
Facebook (A Tier)Unknown
X (A Tier)Unknown

How easy is it to convert a viewer?

PlatformScore
Instagram (S Tier)High
X (A Tier)High
Newsletter (A Tier)High
LinkedIn (B Tier)High
Podcast (B Tier)High
Facebook (A Tier)Med-High
Youtube (S Tier)Low-Med
TikTok (F Tier)Low

How much website traffic does it drive?

PlatformOverall Traffic %Time on Page
Instagram (S Tier)48%28 Seconds
Youtube (S Tier)28.6%90 Seconds
LinkedIn (B Tier)9%40 Seconds
Twitter (A Tier)6.12%30 Seconds
Facebook (A Tier)3.8%53 Seconds
TikTok (F Tier)2.5%10 Seconds
*these numbers come from Hormozi’s traffic analytics. Yours will surely differ.

Our own bonus metric: How well does it drive website traffic compared to following?

Traffic Effectiveness Score: if a platform is performing at a value of 1 it is performing on par. Anything lower than 1 is underperforming. Example of this is if a platform drives 20% of website traffic and consists of 20% of total followings across all social accounts then it would sit at a Traffic Effectiveness Score of 1.

PlatformTotal Following %Traffic PercentageTraffic Effectiveness Score
Facebook (A Tier)1.9%3.8%2
LinkedIn (B Tier)8.9%9%1.43
Instagram (S Tier)36.7%48%1.31
Youtube (S Tier)34.2%28.6%0.84
Twitter (A Tier)8.9%6.12%0.69
TikTok (F Tier)11.9%2.5%0.21

Breaking Down the Nuances of Each Platform

Having data is helpful, but Hormozi also breaks down the specifics of why each platform may or may not be the right choice and how to utilize it to its fullest.

YouTube (S Tier)

Stats:

  • 89% of households making $100k+ use YouTube.
  • 83% of the US uses this platform.
  • YouTube has high growth potential due to its algorithm.
  • Users spend 8.5 minutes viewing content on average.
  • Converting is somewhat difficult, with a low to medium score (with some nuances—see below).
  • Total website traffic from YouTube is 28.6%, with the highest time on page (1.5 minutes) and end conversion rate of all platforms.
  • Traffic Effectiveness Score: 0.84

Takeaways

YouTube’s algorithm isn’t just smart – it’s a content creator’s secret weapon. Alex Hormozi discovered that a jaw-dropping 82% of his video views came from YouTube’s browse features and suggested videos. That’s like having a tireless promoter working 24/7 to connect your content with the right eyeballs. The message is clear: create quality content, and YouTube’s algorithm will roll out the red carpet to your ideal audience.

Now, here’s a plot twist that’ll make TikTok and Instagram do a double-take: YouTube Shorts is the new kid on the block, and it’s not just keeping up – it’s leading the pack, with engagement levels tripling those of its competitors at a whopping 33 seconds.

Youtube even boasts large conversion rates when users click through to a website and is sitting at 3 or 4 times higher end conversions than any other platform. The caveat is unlike competitors, YouTube is a bit of a lone wolf when it comes to direct engagement. Because there is no direct means of communication (outside of the community tab) you will have to be forced to focus on how you will deliver call to actions. This limits you to:

  • In-video
  • At the top of your description
  • In a pinned comment
  • In the community tab

When it comes to CTAs on this platform, especially within a video, less is more. Think of your CTA as a whisper, not a shout. Keep it short, sweet, and irresistible.

Tips

Tip #1: Place direct calls to action at the top of the description so they stand out immediately.

You have one or two lines visible before the “Show More” button, so make them count. Let your video deliver value, and use the description to guide viewers towards action.

youtube description cta example
Tip #2: Put your CTAs in a pinned comment.
youtube pinned comment example
Tip #3: Video intro’s should only take 10 seconds.

You have about 30 seconds to grab attention before viewers decide it’s not for them. Do not waste the viewers’ time with a 2-minute intro. Get to the content you promised the viewer FAST. Get to the meat and potatoes; don’t waste their time.

Instagram (S Tier)

Stats

  • 54% of households making $100k+ use Instagram.
  • 47% of the US uses this platform.
  • Instagram has high growth potential because of Reels.
  • Instagram users spend about 20–30 seconds on content, depending on what you share.
  • Conversion rates are high.
  • Total website traffic from Instagram is 48%, with a time on page of 28 seconds.
  • Traffic Effectiveness Score: 1.31

Takeaways

Instagram’s algorithm doesn’t play favorites with video content; it simply reflects user preferences. The platform’s real currency is engagement, with shares being the crown jewel. When your content is shared widely, especially off-platform, Instagram takes notice and amplifies your reach.

Contrary to popular belief, more isn’t always better on Instagram. The platform actually penalizes overzealous posters. The sweet spot? A modest twice-a-day posting schedule—once in the morning to catch the early birds and once in the evening for the night owls. Here, quality trumps quantity, so focus your energy on curating content that truly resonates.

Instagram is a conversion powerhouse, offering a variety of link options and CTAs. From story swipe-ups to shoppable posts, the platform provides multiple pathways for users to take action. This abundance of conversion tools makes Instagram ideal for marketers looking to turn views into customers.

Here’s a mind-blowing stat: one savvy creator turned a mere 5,800 followers into a million-dollar annual revenue stream. This isn’t about chasing vanity metrics – it’s about targeting the right audience with laser precision. Remember, it’s not the size of your following that counts, it’s how engaged they are.

While Instagram may send more traffic to websites than YouTube, the conversion rate is slightly lower with Instagram. However, the sheer volume of click-throughs compensates for this, putting Instagram on par with YouTube in terms of end results. This balance of high traffic and decent conversion rates earns Instagram its coveted S-tier status.

Tips

Tip #1: Do not over-post

Post once or twice a day and diligently curate the material you plan to share, as there are penalties for over-posting.

Tip #2: Do not chase views

Focus on speaking to a specific audience rather than worrying about getting massive amounts of views. With so many ways to drive click-throughs on Instagram, targeted content can result in high click-through rates.

Facebook (A Tier)

Stats

  • 68% of households making $100k+ use Facebook.
  • 68% of the US uses this platform.
  • Facebook has high growth potential with Reels.
  • Facebook users spend about 53 seconds on content, depending on what you share.
  • Conversion rates are medium-high.
  • Total website traffic from Facebook is 3.8%, with a time on page of 53 seconds.
  • Traffic Effectiveness Score: 2

Takeaways

Don’t write off Facebook as yesterday’s news just yet. The social media veteran still has plenty of tricks up its sleeve. When it comes to keeping visitors glued to your website, Facebook is a strong contender, surpassing many of its flashier, younger rivals with an average of 53 seconds spent on websites, compared to Instagram where users spend just 28 seconds.

Now, here’s where it gets really interesting: Alex’s Facebook following might look like David (150,000 followers) next to his LinkedIn Goliath of 900,000 followers, but don’t let those numbers fool you. This David’s got a slingshot that fires traffic like nobody’s business. We’re talking performance that’s 9 times more effective than LinkedIn at driving people to websites. It’s a stark reminder that in the social media game, it’s not the size of your audience, but how you use it that counts.

Facebook’s versatility is its underlying superpower. It allows you to write thought-provoking essays like those on LinkedIn while also leveraging the fast-paced, engaging format of Reels similar to Instagram. This provides diverse ways to engage with audiences using their preferred methods.

Tips

Tip #1: Don’t underestimate Facebook.

Facebook has massive potential due to recent changes in its algorithms and Reels content. Don’t count it out of the race just yet.

LinkedIn (B Tier)

Stats:

  • 53% of households making $100k+ use LinkedIn.
  • 30% of the US uses this platform.
  • LinkedIn has medium-high growth potential.
  • Conversion rates are extremely high due to targeted outbound prospecting.
  • Total website traffic from LinkedIn is 9%, with a time on page of 40 seconds.
  • Traffic Effectiveness Score: 1.43

Takeaways

LinkedIn’s search functionality is unmatched by any other platform. Imagine being able to zero in on your perfect client with precision: Industry? Check. Job title? Check. Company size? Double-check. It’s like having a backstage pass to the world’s largest professional networking event, where everyone is wearing a name tag with their entire résumé printed on it. For B2B marketers and salespeople, this is the go-to platform for outreach.

But here’s where LinkedIn really flexes its muscles – its sharing culture is like a steroid for your content. Post something engaging, and watch as it spreads faster than office gossip. The kicker? When someone drops a value bomb in your comments, LinkedIn doesn’t just nod approvingly – it broadcasts that interaction to their entire network. It’s like having a megaphone that gets bigger with every meaningful conversation.

Make the most of this sharing culture by not just talking about yourself – shine the spotlight on the big guns in your industry. Craft content about well-respected individuals or companies, and if you can get them to engage? Boom! You’ve just hijacked their audience.

LinkedIn also offers immense ROI potential for talent acquisition. You have a direct hotline to the world’s top talent and by coupling outreach to talent with quality content on your page, you can attract top-tier candidates. Alex has experienced this firsthand in his businesses and uses LinkedIn as his primary talent pool.

Tips

Tip #1: Attract large accounts.

Write about a large account, whether it be a piece of content they created or how they are handling real-world challenges. If you can get them to engage, even with a comment, your content will spread to their audience. The more meaningful their response, the more your content will be pushed to their followers.

Tip #2: Focus on recruitment

LinkedIn offers a significant ROI in talent acquisition. It is a valuable tool for connecting with prospective talent when used strategically.

X (Twitter) (A Tier)

Stats

  • 29% of households making $100k+ use X.
  • 22% of the US is on X.
  • X has medium growth potential.
  • Conversion rates have a high score.
  • Total website traffic from X is 6.12%, with 30 seconds of time spent on the page.
  • Traffic Effectiveness Score: 0.69

Takeaway

Gaining traction on x can be challenging initially, but the platform offers fantastic opportunities for those who master its nuances. The key to success on Twitter lies in the ability to distill complex ideas into concise, impactful statements. This skill, while demanding, can yield remarkable results.

For instance, there are numerous examples of accounts with relatively modest followings – often around 1,000 followers – generating seven-figure incomes annually. These success stories are typically built on a foundation of hyper-focused content, catering to specific, often specialized audiences. This demonstrates that on X, it’s not just about the size of your following but the relevance and value you provide to your niche.

One unique advantage of X is unprecedented access to a wide range of individuals who are willing to engage. The platform emphasizes organic and open conversations, and the willingness to engage with a well-crafted reply or direct message is unmatched.

However, it’s crucial to approach these interactions with authenticity and value. Direct messages that immediately push for a sale or request tend to perform poorly. Instead, successful engagement often starts with genuine compliments, insightful comments on someone’s tweets, or initiating meaningful discussions.

One of X’s most underrated benefits is its utility as a content incubator. The platform’s format encourages users to share quick thoughts, insights, or observations in real time. These bite-sized content pieces can serve as seeds for more extensive content on other platforms. Use it as a testing ground to gauge audience reactions before developing them into full-fledged content pieces.

Tips

Tip #1: Recycle content from X.

Use X to get out thoughts and ideas, then revisit those “golden nuggets” to create content for platforms like LinkedIn.

Tip #2: Build Relationships

The response rate for DMs on X is fantastic and feels more organic. Lead with value, conversation, or compliments to start a dialogue. Be specific with compliments and reference the tweets you want to discuss.

TikTok (F Tier)

Stats

  • 27% of households making $100k+ use TikTok.
  • 33% of the US uses TikTok.
  • TikTok has high growth potential as it favors new creators.
  • Users spend 5–20 seconds viewing content.
  • Conversion is a bit difficult, with a low score.
  • Total website traffic from TikTok is 2.5%.
  • Traffic Effectiveness Score: 0.21

Takeaways

TikTok is the sprinter of the social media world—great for quick bursts of growth and attention. The algorithm favors new creators over seasoned influencers. It prioritizes fresh faces and novel ideas. But before you start practicing your dance moves, let’s look behind the curtain at some of TikTok’s less glamorous realities.

TikTok falls short in direct communication. Gen-Z, TikTok’s primary audience, actually prefers using Instagram DMs over TikTok’s messaging system. To work around this, create TikToks’ that directly respond to comments instead of replying in text, fostering one-on-one engagement with your audience.

When we get down to the meat of it, TikTok is simply not made for service-based businesses. While its marketplace thrives in e-commerce, the platform’s strength in product sales doesn’t translate well to the nuanced world of services, leaving many B2B marketers at a loss.

Despite commanding a whopping 1/10th of Alex’s total following across all platforms, TikTok drives a mere 2.5% of traffic. It’s like having a sports car that looks great in the driveway but rarely makes it out of first gear. This stark reality check suggests that your energy might be better spent revving up efforts on other platforms that offer more substantial returns.

In the end, TikTok is like a trendy pop-up shop—great for generating buzz and drawing in crowds, but not necessarily the foundation for a long-term marketing strategy.

Podcast (B Tier)

Stats

  • 54% of households making $100k+ listen to his podcast.
  • 64% of the US listens to podcasts.
  • Podcasts are hard to grow.
  • Listeners spend around 20 minutes per episode.
  • Conversion rates are medium-high.
  • Total website traffic from podcasts is minimal.

Takeaways

Podcasting has the highest total engagement of any platform, but breaking into a listener’s rotation is like getting into an exclusive club. Most avid listeners have a tight-knit rotation of just 3-5 podcasts they regularly tune into. To grow like the most successful podcasters, you can’t just broadcast your show into the void; you need to transform audio into visual content on platforms like YouTube.

Listeners are attentive and eager for recommendations, but getting them to take action can be challenging. They need to find their phone, type in a URL, or search on Google—and that’s if they’re not occupied with tasks like driving or cleaning.

But don’t despair! Podcasting is a content goldmine. Each episode is filled with valuable content you can share across your social media platforms. If you’re savvy enough to snag the right guests, you’re not just creating content; you’re expanding your network and influence.

In the end, podcasting is like tending a garden. It requires patience, consistent care, and creative cross-pollination with other platforms. For those willing to put in the work, the rewards can be substantial. Diversification isn’t just a strategy—it’s the secret sauce to growth and engagement.

Tips

Tip #1: Don’t silo your podcast.

Distribute your podcast content to other platforms. Relying solely on podcast platforms won’t scale your growth.

Email (A Tier)

Stats

  • 96% of his newsletter audience earns $100k+.
  • 92% of the US uses email.
  • Newsletters are hard to grow.
  • 40% of Alex’s newsletter subscribers open his emails.
  • Conversions are very high.
  • Email drives website traffic with users staying on the page for 2 minutes.

Takeaways

If you’re not leveraging email marketing, you’re leaving money on the table – and we’re talking stacks of it. Email isn’t just another marketing channel; it’s the golden goose of digital communication, boasting an eye-watering return of 36 to 1. That’s not a typo, folks – according to Alex, for every dollar you invest in email marketing, you could be seeing $36 coming back your way. It’s like having a money tree in your digital backyard.

Email represents your personal media empire. Unlike social platforms, where you’re at the mercy of algorithms, email lets you control the narrative. Your messages land directly in the inbox of people who have opted to hear from you.

With email, you’re not trying to win over strangers—you’re nurturing relationships with those who already know, like, and trust you. Your job isn’t to convert; it’s to deliver value that keeps them coming back for more. It’s like being the host of the best party in town, where every guest is excited to see what you’ll serve up next.

The beauty of email is in its ability to drive engagement. When you send an email packed with value, you’re not just broadcasting – you’re starting a conversation. Alex even shows that his newsletter drives engaged users who will use his website for 2 whole minutes. That shows the direct connection you have with a newsletter to drive follow through.

Tips

Tip #1: Invest in delivering value, not just conversion

Subscribers want consistent value, which fosters long-term engagement.

Final Thoughts

Each platform has its unique pros and cons, but success ultimately hinges on understanding your audience and what they want to hear from you. That’s the key. Without this insight, no platform will deliver the desired results.

You might have noticed Alex measures the traffic from every platform to his website. You should be doing the same. If you aren’t, you’re missing out on valuable insights that could significantly impact your marketing strategy. Here’s what you should focus on:

  1. Create Meaningful Content: Tailor your content to resonate with your audience and provide real value.
  2. Promote Your Website: Find creative ways to drive traffic back to your site.
  3. Guide the Journey: Have dedicated web pages that lead visitors further along in the conversation you want to have with them.

If your website isn’t converting enough visitors, don’t leave money on the table. Book a free consultation to see if there are more ways to cash in.

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