Priyanka Tiwari
We have had a bumpy start to the year with problems like global recession, declining consumer spending, increasing inflammation, and layoffs by industry giants across different business sectors.
While other sectors are in a difficult spot, Social Media Marketers have still secured a safe space with larger budget slices. After a decade of struggle, businesses have finally understood the significance of Social Media Presence.
It's no surprise that social media has become integral to people's lives. So much so that the first thing they do after waking up is check their Social Media feeds. Its addiction is real across all age groups and parts of the world.
Marketers and Businesses flock to connect with their target audience through social media. But, given the content overload and competition, it's not easy to stand out. You must crack the right marketing strategy revolving around the trends to break the clutter and make your own space.
The big secret is to combine performance with consumer preference data. The focus should be not on creating the specific trending Instagram Reels but on understanding the pattern that drives the audience's behaviors and making the right brand fit for your brand.
As we turn the leaf to the new year, we must understand what 2023 holds for us and how we can make the most of it.
Here are 4 Social Media trends that you need to know in the year 2023:
1) Video Content
As per a study by Cisco1, video content will capture around 80% of global consumer internet traffic. With more brands turning to short-form videos like YouTube Shorts, Instagram Reels & Facebook Reels, long-form videos are losing popularity.
Live streaming is also gaining popularity by the day. Brands use this form to engage with customers through storytelling, product demonstrations, event promotions, etc.
According to Hootsuite, the ideal length of Social Media videos should be approximately a minute2.
Video content will continue to rule the Social Media landscape, and those who want to make it big will invest more in video production resources and staff. The stronger your video production team better will be the impact on its viewers.
2) Social Commerce
In 2022, we experienced a record-breaking surge of Social Media users shopping on social commerce. The year 2023 is expected to witness a significant boom in these numbers, making Social Media platforms popular shopping outlets for users.
Social Commerce is widely profitable and garnering more eyeballs by the day. As per Statista3, social commerce generated approximately $475 billion in sales in 2020 and is expected to generate $3.37 trillion by 2028.
Metaverse Shopping is taking the social and e-commerce experience a notch higher. One of the most trending examples is Forever 21's metaverse venture4, where Roblox users got to customize virtual fashion.
Despite the magnificent growth opportunity, spend time on extensive research to see if it's viable for your brand before jumping on the social commerce bandwagon.
3) Influencers Marketing
According to a survey by Influencer Marketing Hub, 90% of brands rely highly on influencers for promotion.
Influencer Marketing is not new to us, and in the year 2023, it's only going to get better & bigger for influencers. So, if Influencer Marketing is not in your strategy, it's still not too late. Look out for what your competitors are up to, find out about the strong voices in your field, and approach them to promote your product. You will see humongous growth if you do it right.
Creator Accelerator5 is an initiative by LinkedIn to help creators build their networks. Despite not being commonly linked together, the interest in the Social Media platform LinkedIn indicated the promising future of Influencer Marketing.
Industry giants have been investing to rope in famous influencers. Even movie makers have been allotting much of their budgets to promote their films with Social Media influencers.
This Taco Bell ad featuring Tanmay Bhat is an excellent example of how brands turn to these influencers for promotion.
4) AI with Content Creation
Forrester6 predicts AI software will see 50% faster growth in 2023. Brands can use AI Content Generation Software like ChatGPT, CopyAI, and Jasper to create Social Media posts.
AI will play a massive part in copywriting. However, it can't replace personalized and authoritative content with a human touch. It can still reduce a lot of time and effort by generating content for Social Media platforms, email campaigns, etc.
With AI tools, brands can increase user engagement to reach the right audiences with customized content.
If you are a booming brand or market leader, you must be updated with the increasing use of AI for content creation to keep up with the competitors and stay ahead in the race.
Apart from these four, Social Listing, Local Targeting, Sustainable Approach & Communication Theme, Crisis Management, etc., are some of the trends you must include in your Social Media strategy.
But more than just knowing about these trends is required; you need someone who knows the market and understands your brand and the viability of these trends.
V2Solutions is a trusted digital transformation partner. We have been actively helping brands to create disruptive content by implementing relevant trends and strategies. Our team's strategic minds are constantly on the lookout for the latest industry trends. Our tailor-made solutions help you raise the bar & stay relevant.
Sources
Priyanka Tiwari
Stay Updated
Create Engaging Experiences with our Imaginative, Immersive & Interactive Solutions. Talk to one of our Certified Experts today.
Latest Insights
