There is currently a worldwide social media boom that shows no signs of abating any time soon. Marketers and brands are paying attention to a slew of up-and-coming social networks rather than focusing solely on Facebook and Twitter.
Consider the meteoric rise of platforms like TikTok and YouTube among young people in 2023. Instagram has also adapted its interface to place a greater emphasis on video.
According to the latest episode of ‘Marketing,’ here are the top five developments to keep an eye on and prepare for in 2018:
- Promoting on TikTok
- A simplified method of conducting business on social media
- Advantages of Influencer Marketing
- Increased use of Instagram as a video-sharing platform has led to a boom in online advertising on YouTube.
One Reason Why Marketers Can’t Ignore TikTok Anymore
TikTok is well-known among both business-to-consumer and business-to-business marketers. Have you tried out different types of content on the platform or integrated it into your marketing strategy? Your answer of “no” in 2023 could prove disastrous if you choose to ignore TikTok.
TikTok’s algorithm and potential for going viral is what attracts brands and creators. When compared to other platforms like Instagram, videos on TikTok are added to the algorithm in a very fair way. TikTok doesn’t care how long you’ve had an account or how many followers you have; they only care about the quality of your content.
It’s about to get a lot easier to do business on social media
Many businesses have found it difficult to capitalise on social media’s captive audience because of the lack of an in-app purchasing option for users. Previously, when a consumer clicked on a tag or photo, they were taken to a website or landing page from which they could make a purchase. Things are finally beginning to shift, though!
This is the year that major improvements to social media platforms’ ability to facilitate purchases on their platforms by users will bear fruit.
A Third Way Influencer Marketing Can Improve Authenticity
The influencer marketing industry has expanded from $1.7 billion in 2016 to $13.8 billion in 2020. According to The State of Influencer Marketing 2022 report, this number is expected to increase by 19% by 2022, reaching $16.4 billion.
The CEO of the Digital Marketing Institute, Ken Fitzpatrick, predicts that influencer marketing will grow in importance. Companies that haven’t been using it so far are likely to start doing so. In particular, the role that influencers play in relation to video content, business-to-business, and consumer-to-consumer interactions. I anticipate that it will become an increasingly common element of brand marketing strategies.
When done well, influencer marketing can do amazing things for a product. The trick is picking an influencer who is a good fit for your product and will help spread the word about it. Micro-influencers (those with between 1,000 and 10,000 followers) can be just as effective as big-name celebrities without the hefty price tag.
Let’s look at Glossier, a popular contemporary cosmetics company. 500 “brand ambassadors” helped spread the word, and customers showed off their products and how they used them.
4 Advertising on YouTube Creates Extra Money
Ad sales on YouTube grew by 26% year over year, reaching $8.6 billion in the fourth quarter of 2021. Traditional TV advertisers, brand ads, and direct response commercials have all contributed to this remarkable expansion.
YouTube is a fantastic resource for advertisers hoping to raise brand awareness. In 2023, YouTube will experiment with new ways for creators to make money through branded content deals and NFTs, and CEO Susan Wojcicki claims that the new YouTube Shorts format has already seen 5 trillion views (Non-Fungible Tokens).
Before now, many marketers were hesitant to use YouTube because they thought videos needed to be of TV quality. Brendan Almack, Managing Director of Wolfgang Digital and an expert on DMI, disagrees.
5. The Instagram Video Industry Will Boom
When asked about Instagram’s future plans, the CEO said, “In 2021, we’re shifting our focus to prioritise video content over other forms of media. Alison Battisby, a social media consultant at Avocado Social, explains that as a result, changes have been made to the app.
Instagram has realised that their users have a strong affinity for video, so they are making this shift in order to shed their image as a mere photo-sharing platform and become a major entertainment hub. Instagram, too, has noticed TikTok’s meteoric rise in popularity and is adapting to better compete with it.
Optimize the Effectiveness of Your Social Media Marketing
Indeed, there is a great deal of action in social media advertising this year. The popularity of TikTok and the recent innovations at YouTube and Instagram open up fresh possibilities for video marketing.
Now that social media apps can form partnerships with commerce platforms like Shopify, users will be able to make purchases with minimal effort. Furthermore, influencer marketing is expanding and remains an effective strategy for establishing a strong bond with your target demographic.
Put into practise some of these B2C and B2B social media marketing trends now to maximise the impact of your social efforts in 2023.
Master TikTok, Instagram, and YouTube
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