Social Media makes up to 93% of the Marketing industry
The constant changing of audience behaviours and the need for brands to proactively respond to trends are the ongoing challenges of social media marketing. The social media landscape has seen significant change this year as we've observed shifting consumer preferences, the introduction of fresh technologies, and the expansion of new platforms. Marketers must prepare for what lies ahead in 2023 because the rate of change across social media platforms shows no signs of slowing down.
While there are many unknowns in the marketing world, there are several social media trends that marketers can rely on over the course of the next year. These trends are based on consumer expectations, social interaction with younger demographics, and current KPIs that are responsible for brand performance. We forecast that the following five trends will most likely have an impact on social media marketers as 2023 draws closer.
The Rise of Influencer Marketing
The data has demonstrated that influencer marketing will continue to play a larger role in marketing campaigns than ever before, as we have long predicted. Every size of business has benefited from working with influencers to increase brand recognition and online sales significantly. We observed the expansion of microinfluencers' footprints, but what about them?
With customers, authenticity is such a strong motivator. Materials that can significantly affect a brand's KPIs do not always require out-of-pocket expense. More brands will start using word-of-mouth marketing in 2023, using social media as a platform to gather user-generated content( UGC) from consumers.
UGC has been shown to increase web conversions by 29% compared to campaigns or websites that don't use it. Utilising the wealth of real-life testimonials is a no-brainer for brands.Not only does this save valuable time and resources (as content is plug - and - play) but it shines the spotlight on a brand's most loyal customers while helping prospective buyers make informed purchasing decisions.
Brands tapping into emerging social platforms
Do you recall the Clubhouse craze? Experimentation is a key component of social media marketing. You are already out of the loop if you do not experiment with new formats, platforms, or trends. Even though not every test will be successful, that is why it is a test. Brands will feel more confident dipping their toe into new platforms as a result of TikTok's success and Generation Z online behaviours in general.
BeReal is an excellent illustration of a promising, up-and-coming platform. Brands were hesitant when the app first launched, similar to TikTok. However, the effort was worthwhile for the early adopters. With companies like Chipotle using BeReal to provide exclusive promos and discounts, creative strategies are already being used. Just the beginning, really. To expand their Gen Z community and adopt an authentic marketing strategy, more brands will turn to apps like BeReal.
Customers turning to social media for care
Customers' interactions with brands on social media were fundamentally altered by the pandemic. The number of customers who used branded social accounts to address their customer service queries and needs was one of the biggest shifts brands saw.
Social media marketing has always included social customer care, though it had previously been largely ignored. The invisible cloak was removed, however, as brands realised they lacked the necessary social customer care strategies to meet customer expectations in the wake of 2020's lockdowns and travel restrictions. In addition to the fact that this trend has persisted for the past two years, brands will see an increase in the number of customers using social media sites for service-related issues.
In fact, a recent Emplifi poll found that social media is preferred by two out of every three customers to ask inquiries, make purchases, and get customer service afterward. The report's findings highlight how crucial it is for organisations to coordinate the interactions between their social media marketing and customer service teams in order to give customers the greatest experience possible.
We forecast that in 2023, businesses will use cutting-edge innovations like live video streaming to provide clients with high-quality services directly through social media apps. Customers will be able to obtain the same professional guidance they would receive in-store while remaining in their own homes. Successful brands that incorporated live streaming into their social media management strategies include Orbit Baby. This tendency will catch on over time as more people seek rapid replies from brands online.
Video will still remain dominant
The phrase "Video is the No. 1" has been used by marketers for years. Brands must use the 1 content format. This will continue to be the case in 2023, but fortunately for brands, audiences will be drawn to the crude, unpolished clips. High-budget campaigns starring celebrities can be abandoned by brands. Instead, they'll use a cell phone to capture and edit their in-app content experiences. A prime example of less-polished, more authentic content paying off is Instagram Reels. Brands are publishing more Reels because they are seeing measurable results. According to a recent study, the interaction count for Reels was almost 40% higher than for traditional videos.
The fact that video content creation is not the responsibility of internal teams or agencies is even more alluring for marketers. Platforms like TikTok are becoming more and more popular for content creators, giving brands plenty of UGC to use in advertising. It's obvious that TikTok content has evolved into the ideal platform for influencers and users to share their experiences in an engaging manner as hashtags like# TiktokMadeMeBuyIt have grown to 32 billion views. In 2023, brands will go one step further and become more knowledgeable about working with video-first influencers who can scale production while amplifying messages pertinent to audiences.
Tiktok marketing will be adopted by Brands more
Brand success on TikTok won't be limited to user-generated content. The platform is doubling down on revenue creation by providing more alternatives for online advertising. TikTok, a relatively young platform, is having great success, holding the title of fastest-growing media app in the world, and has seen in-app consumer expenditure of more than $2.5 billion. With roughly 30 million daily active users worldwide, it's no surprise that businesses are starting to look at TikTok's potential, not just for raising brand awareness but also for its ability to boost profits.
Positive outcomes are already being seen for the brands that have used TikTok advertising. In the second quarter of 2022, brands increased their spending on the platform by 231% compared to the same period last year, according to a recent study by Triple Whale. Even more astounding, the same study discovered that direct-to-consumer brands using TikTok were making between$ 1 million and$ 5 million in revenue.
As more brands and industries allocate more of their digital advertising budgets to TikTok in 2023, the platform will experience more innovations, which will increase the number of opportunities it will have for marketing.
Looking beyond this
Marketers will need to embrace social media trends rather than resist them if they want to succeed in 2023. Authenticity will control all facets of marketing and be the key component that elevates a solid advertising effort.
As viewers move away from glitzy celebrity-endorsed advertisements, UGC and organic low-maintenance video will become more and more prevalent in the internet realm. Instead, consumers will still favour authentic influencer content experiences, customer feedback, and consumer reviews.
As a result, brands will be able to stretch their budget even further, establishing stronger audiences and expanding their social media reach. The good news is that there are many opportunities for brands to establish themselves in the upcoming year, which is a really exciting time for marketers.