In social media marketing, staying ahead of the curve is crucial. Over the past few years, the landscape has undergone significant transformations, presenting both challenges and opportunities for marketers. As we delve into 2024, it’s evident that the strategies that once worked flawlessly may need a revamp.
Embracing Short-Form Video
Short-form video content has asserted its dominance and become the undisputed king of social media. Spearheaded by platforms like TikTok, this trend has reshaped user behavior, garnering a staggering 1.677 billion global users in 2023. The allure of bite-sized, engaging content has captivated audiences worldwide, with an average of 1.1 billion monthly active users on TikTok alone.
The statistics paint a compelling picture – 91% of businesses leverage video as a marketing tool, with a resounding 96% attesting to its effectiveness in enhancing user understanding of products or services. Moreover, 89% attribute increased traffic to video marketing, while 79% and 91% acknowledge its role in convincing users to purchase software or products.
However, succumbing to the trend blindly is ill-advised. Quality still trumps format, emphasizing the need to provide value to viewers. A clear call-to-action (CTA) is paramount to guide the viewer into the client funnel, transforming engagement into tangible results. When formulating a short-form video strategy, considering the target audience, the goal of the video, posting platforms, and repurposing plans becomes imperative.
YouTube’s Enduring Presence in a Short-Form World
While short-form videos steal the spotlight, YouTube, the world’s second-most-visited website, remains a formidable force. Boasting an average visit duration of 20 minutes and 4 seconds, along with a commendable 21.65% bounce rate, YouTube offers a platform for long-form video strategies with enduring longevity.
The versatility of YouTube lies in its ability to support search-based, evergreen content. This approach, steering clear of relying solely on algorithm-driven visibility, empowers brands to create content with lasting impact. Repurposing possibilities abound, allowing content to be sliced into smaller videos for social media, reposted as IGTV content, or embedded in blogs for enhanced SEO.
The Ascendance of Social Commerce
The fusion of social media and e-commerce, commonly known as social media ecommerce, continues to ascend as a prominent trend. Even before the COVID-19 pandemic accelerated online shopping habits, 30% of consumers expressed willingness to purchase through social media platforms in 2018.
Supply chain challenges amplify the importance of managing multiple channels, with search engines and retailer websites leading the way in pre-purchase information sources. Smartphone shopping is soaring, projected to reach $620.97 billion by 2024, constituting 42.9% of all eCommerce purchases. Online businesses with a social media presence enjoy a 32% increase in sales compared to their non-social counterparts.
Consumer reliance on social media for pre-purchase decisions is underscored by the fact that 84% of US online buyers consult social media platforms before making a purchase. Instagram emerges as the preferred discovery channel for Gen Z, with 60% using it to explore new brands.
Social selling has witnessed unprecedented growth, with 80 million social buyers in the US in 2020, surging to nearly $51.8 billion in 2022. Projections indicate a monumental leap to $145.2 billion in the US by 2028.
As online buying becomes pervasive, brands must facilitate seamless purchasing experiences within social media apps like Facebook, Instagram, and TikTok, ensuring a higher return on investment and an enhanced user experience.
Social Guidelines for Businesses
A social media policy is a set of social media guidelines and rules established by a brand to regulate its employees’ use of social media platforms, forming a crucial aspect of overall social media management. This policy dictates how employees should behave on social channels, covering content sharing and responses to customer comments. Companies recognized the need for ground rules as social media evolved from a user commodity to a vital business tool. Every company must have a social media policy to protect its brand, mitigate legal risks, and maintain productivity. Before drafting the policy, key considerations include consulting legal professionals, balancing freedom and restriction, and communicating clearly in easily understandable language with examples and scenarios.
The Power of Content Creators
In an era dominated by content, the source of that content holds significant weight. Consumers place trust in reviews and recommendations from family and friends, bloggers, vloggers, and social media figures who have had authentic brand experiences.
User-generated content (UGC) reigns supreme, with consumers finding it 9.8 times more impactful than influencer content when making purchasing decisions. Leveraging UGC involves three key steps: mining existing content, collaborating with satisfied customers, and identifying relevant nano and micro-influencers.
Building Communities Over Amassing Followers
The paradigm shift from follower counts to community building is evident. Focused and robust communities yield brand loyalty, with 66% of branded communities influencing customer retention. Platforms like TikTok and Instagram (Reels) introduce features for video responses, fostering deeper engagement.
Tips for community building include active comment responses, encouraging user tags, addressing negative feedback, cultivating relationships with influential content creators, and utilizing platform-specific features.
Precision in Targeted Social Media Ads
Targeted advertising gains prominence, with 31% of respondents expressing interest, peaking at 43% among Gen Z. Effective social media advertising necessitates specific targeting to avoid irking users who are annoyed by repetitive ads.
As part of a successful strategy, understanding the core audience, key performance indicators (KPIs), potential for engaging videos, and the incorporation of user-generated content is vital. Recognizing the five factors impacting consumer purchase decisions – omnichannel experience, ESG commitment, online security, local supply chains, and pricing considerations – is essential for tailoring campaigns effectively.
Digital Trust and the Evolution of LinkedIn
The decline in digital trust, as indicated by the Insider Intelligence report, reshapes the dynamics of platforms like LinkedIn. Personalized, linkless posts gain prevalence, and LinkedIn invests $25 million in a Creator Fund, supporting content creators.
Strategies for LinkedIn include linkless posts, cross-platform content sharing, moderation in personal content sharing, and experimentation with videos.
The Integration of Social SEO
Social media’s role in online search is expanding, with platforms like TikTok and Instagram becoming popular search destinations. Optimizing social media strategies involves keyword research, incorporating keywords in captions, adding alt text to images for accessibility, and natively adding keyword-optimized captions to videos.
AI-Generated Content
AI-generated content emerges as a game-changer, aiding in faster content creation, increased personalization, and cost savings. Tools like Chat GPT, Synthesia, and Lexica demonstrate the diversity of AI applications.
While AI tools offer efficiency, concerns about creativity, authenticity, and ethical considerations linger. Balancing AI tools with human touch remains crucial for maintaining the quality and originality of content.
Instagram Threads
Instagram Threads, with over 150 million users, establishes itself as a prominent communication platform. Offering a dedicated space for self-expression, conversations, and community building, Threads presents an opportunity for marketers to enhance user engagement.
Predictions for the Future
The coming years hold exciting prospects for social media marketing. AI tools are set to play a transformative role, with Google and Microsoft integrating AI capabilities for interactive online search. TikTok’s influence will persist, securing its place among the top social media platforms. Social media’s role as a destination for online search will intensify, necessitating SEO optimization for posts. Full-screen content, especially vertical videos, will witness increased engagement. YouTube Shorts will become a focal point for brands, attracting daily views in the billions. Brands will focus on personalized, one-on-one interactions on social media to enhance customer experiences.
Way Ahead
The social media marketing demands agility, adaptability, and a keen understanding of emerging trends. As we navigate the dynamic terrain of 2024, the synthesis of creativity, technology, and user-centric strategies will be key to staying ahead in the competitive world of social media marketing.