How is Social Media Marketing Changing in 2023?

Social Media Marketing - 2023

The most significant shift we have seen in social media over the past few years, which continues to be still relevant, is that short-form video is not going anywhere. With the hype and craze among TikTok, it was pretty evident that people's short attention span fits well with short videos. We saw how Facebook, Instagram, YouTube, and other e-commerce websites have also incorporated short video promotions on their platform. You need to focus on this area and create meaningful and relevant videos for your customers as a business. It is a no-brainer that videos perform way better in lasting impact and remembrance.

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As per our analysis, we have seen many businesses jumping into the popular trance and reading opposing their content to get more organic visibility and attention from people. You could stay on top of these trends by constantly saving videos with trending audio from the reels and TikToks you see popping up the most often on your 'For You' Page. Set is essential for you to understand which audio is trending because the algorithm of the social media platforms uses these audios to analyze which people would be the right fit for that video. Suppose you have been seeing a particular kind of video and audio. It is possible that you could get more such videos in your feed. Focus well on your digital marketing funnel.

Regarding the organic reach, we could say, "Be consistent, and you will see the results." 

How did the covid 19 pandemic change customer behavior?

Change in customer behaviour

The Covid 19 pandemic was a significant cause for many people to shift towards online shopping and accept digital as the new norm. When people were stuck in their homes, it was almost impossible for them to get to the shops physically and purchase the products they wanted. In such a case, many people had to shift online, and once they got the experience, most of them were not willing to go back to normal.

The companies have shifted their budgets towards social media and website, SEO improvements garnering organic visibility and credibility with videos, and content marketing. The majority of the companies prefer to spend much of their budgets on social media, website, SEO improvement, and e-mail automation, as these digital marketing channels, account for a significant amount of return on investment if tracked and appropriately improved. We can be sure that the new normal is leveraging content marketing, influencers, videos, PPC, podcasts, and webinars. Budgets formerly assigned to event exhibition costs have been redirected to content and inbound marketing, SEO, digital PR, and paid programs. 

 

Along with that, several companies and influencers have captivated the attention of their audience with funny and witty memes. Memes have become a massive part of people's lives as more people are intrigued by critiques, sharing, and laughter. It is no secret that a person can take their time and read a meme to the end, but they can't complete an ad banner. Even throughout 2021, we saw cryptocurrencies using memes to reach a larger audience. 

However, if you are shifting to this marketing approach, memes should be made slowly and carefully to see what your audience is intrigued about. It is a way of connecting with your audience and getting the entire conversation using a single meme. Businesses should know their audience and approach them with the right strategy to get more meaningful engagements.

TikTok has emerged as an excellent platform to garner GenZ.

TikTok marketing strategy

In 2023 retailers, small businesses, startups, and corporations are expected to use TikTok to create meaningful short videos that could captivate the attention of GenZ. Only 31.3% of their user base is aged 40 and over, which makes this application suitable for companies with the target audience as young people.

For example, businesses prioritize marketing on TikTok, as this social media platform is extremely popular with younger consumers. To capitalize on the popularity of TikTok, businesses are partnering with TikTok influencers on sponsored videos — the companies provide products and a monetary payment. This influencer partnership is crucial for getting their brand and offerings in front of thousands of younger consumers. Businesses are also focusing on podcast sponsorships and ads on YouTube, as these channels also have a proven effect on the business's performance.

Young consumers are online more than ever before, constantly scrolling down their social media feeds, posting TikTok videos, and gaining inspiration from popular social media influencers. To market to these younger consumers, businesses will have to strive to reach them where they are, join their conversations, and connect with them. Companies can do this by posting videos that are part of a significant TikTok trend, creating and posting funny memes, and partnering with social media influencers that are popular with the younger demographic.

Social commerce will have its heyday.

 

social commerce

We have been visualizing the new trend where the brands try to sell to their customers directly through their social media pages, and the ease of doing business would make this trend continue to grow this year and beyond. More than just a marketing platform, social media is fast becoming a platform for sales itself. More and more customers expect to buy products and services right off the baton social media. This is especially true in D2C, but we have seen the same trend with B2B, though the channels might differ and the platforms used.

While businesses always keep their brand marketing on social media, it is expected to promote soon and sell products. Increased social media usage combined with strict COVID policies created the perfect conditions for a social shopping blast. There are already live videos where you could promote and sell your products.

Live Content: Will it replace event marketing?

live streaming commerce

Live video conversations with followers and customers are becoming increasingly popular among brands. The growing popularity of live videos has overtaken the need for video material. Many companies went digital in 2020 during the global health crisis to preserve social distance and avoid the spread of COVID-19. Because of this, the use of social media's live streaming services is on the rise. Twitter first introduced spaces. Facebook introduced Live Audio Rooms and podcasting capabilities.

Additionally, YouTube is embracing podcasts. Also, don't forget about the live video feature. You need long-form content to sell on social media. 

As we have seen the case of event marketing on how limiting and draining the entire process is, it would be no surprise to see that live content someday replaces even marketing altogether.

Snapchat, Pinterest, and TikTok are getting more advertisers.

Advertisements on smaller platforms like TikTok, Snapchat, and Pinterest may be better received by users than those on the more popular social networks. Consumers and companies aren't only paying attention to TikTok anymore. Pinterest and Snapchat are also becoming more popular. It may not be as popular as Facebook or Instagram, but Snapchat advertising data suggest that the potential advertising audience on Snapchat has grown significantly. While Instagram and Twitter aren't new to the social media arena, many businesses are still experiencing boosts in ROI on both of these platforms in recent years.

Facebook and Instagram for B2C; LinkedIn and Twitter for B2B

Credits: FIPP & Statista

Many surveys reveal the above-stated result.

The 500 marketing professionals asked for the survey by FIPP have pretty clear preferences when choosing specific platforms to use for either reaching individual consumers or targeting other businesses on social media.

The data shows that the marketers prefer LinkedIn and Twitter to reach businesses through paid social media ads. On the other hand, the somewhat more quirky platforms, like Instagram and Facebook, are the best choice to get the message across to the individual consumer.

Short video content is stealing the spotlight.

Short video content

There are speculations that there would be a continued increase in short video content. By 2023, online videos may make up to 82% of all consumer-driven internet traffic. The short video is quickly becoming the most popular content on the web, and up to 85% of internet users have watched online video content every month. The increasing popularity of Tiktok even resulted in YouTube introducing "Shorts" as their new video format. 

Video is a highly engaging format that can help businesses connect with their audiences more meaningfully. Companies that don't incorporate short videos into their social media marketing strategies will be left behind.

What are the most prominent social media marketing and advertising changes you have seen recently?

The most recent change we have seen is that each brand is setting up its page. They are branding their product on their page. They are now working on the customer retention theory. This means they see how many customers they still have over the given period. By setting up their account, they know how many people follow and like their products. They get the idea of how their product is doing in the market and whether their customers want it.

What is the shift, and how should businesses prepare themselves to excel?

The shift in the business is that more and more budget is poured towards ads entirely on digital platforms. Marketers understand the importance of social platforms and change in consumer behavior that has let them to investing money directly in digital media. We can easily speculate that their business must be getting a significant ROI because customers are also focused on digital ads. 

Social media and digital marketing channels have allowed businesses to teach their customers, nurture them continually, and retain them with digital strategies.

Incentivizing employee advocacy on social networks will be one of the most significant social media trend shifts in 2023. The only organic way for brands to increase their social media presence, enhance their reach, and build communities is through employee advocacy. Most of our employees are unused and undeveloped, even though they are our greatest asset.  

Social branding/co-branding

It is the most significant social media trend shift and has become the talk of the town now and getting more hype. With this, the marketing budgets have soared to beat the competition while conveying your values and purpose to generate greater engagement and relationships with your brand.

Social E-commerce

Besides typical e-commerce marketing and shopping, social media has become a trust mark for shopping. With more emerging markets and easy payment methods, we could expect more brands to embrace it.

The change is all about coping with tight financial outputs due to a more competitive market and a more educated audience such as millennials, or generation Z. Businesses should focus on transparency because it directly affects your marketing ventures and business profiling.

The most prominent social media marketing and advertising changes in recent years have been two-way communication with the audience and the introduction of video marketing. Both these changes have transformed the way companies market their services/products. The content is now more proactive, and audiences can interact freely using social media. This option was unavailable 20 years ago, so the change is welcoming. 

 

The shift is methodical. Businesses now need to increase their presence online to make an impact. Modern changes require modern solutions and companies need to adapt, improvise and overcome. There needs to be some serious investment in the social media market to be a viable outlet for content promotion. The competition is tough and necessary steps need to be taken.

Here are the most significant Social Media Trend Shifts for 2023:

-Live Streaming will remain one of the most important trends for this year and years to come.

-Virtual reality is gaining more popularity on social media as platforms push forward with incorporating this technology.

-Social commerce will continue to grow

-Authenticity and transparency will be essential. 

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