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It’s nearly impossible to fathom someone not engaging with social media in this day and age. Nevertheless, the industry is continuing to expand with an expected 5.85 billion social media users worldwide in 2027.
Image Source – Social Media Users Worldwide
However, the social media landscape is not a level playing field. In 2023, Facebook’s growth has reached a plateau, while Twitter’s top 100 advertisers seem to have vanished since Elon Musk’s acquisition.
Meanwhile, TikTok is still experiencing tremendous growth and is expected to reach 955 million users by 2025. In contrast, LinkedIn’s advertising revenue has spiked, reaching $13.8 billion, which is six times higher than it was in 2017.
What does this tell us?
The social media universe is ever-changing, and yesterday’s strategies may not be effective today, let alone tomorrow. To maximize your social media marketing efforts, you must remain up to date on user behavior, functionality, and technological advancements. Here are five critical social media trends for 2023 that we’ve compiled to assist you in staying ahead of the curve.
1. Short-Form Vertical Video on the Rise
In the past, we watched videos in a horizontal format on platforms like YouTube and Netflix. However, the growing use of smartphones to view videos, with almost two-thirds of YouTube views coming from mobile devices, has given rise to vertical video. This orientation is particularly suited to the smartphone format, and as a result, the vast majority of mobile video consumption happens in “portrait” mode.
Image Source – Popular Video Orientation
The popularity of short-form video content has also surged in recent years, both among consumers and marketers. Short-form videos are easier and quicker to create, and they require less time commitment from viewers.
This has prompted a significant number of video marketers to recognize the high return on investment generated by short-form videos, with almost 40% agreeing that shorter videos yield the highest ROI, and almost half indicating that shorter videos are more likely to go viral.
In 2023, we expect more brands to combine these two trends by producing an increased amount of short-form, vertical video content.
Shorter videos have proven to be particularly effective for promoting products and services. In fact, 73% of consumers prefer to learn about products or services through a brief video, as opposed to reading text-based information or downloading manuals or eBooks. In-person pitches and webinars, as well as demos and sales calls, are also less favored by consumers.
2. The Power of User-Generated Content (UGC)
For social media marketers, user-generated content (UGC) has long been a potent weapon in their arsenal. According to Tint, 72% of consumers consider customer reviews and testimonials to be more trustworthy than what brands say about their products.
Similarly, 93% of marketers agree that UGC is more trusted by consumers than content created by brands. Furthermore, consumers who follow and like brands are more likely to share content about them or their products if the brand shares UGC.
But UGC is not a new concept, so why is it featured in this article? The answer lies in the fact that there’s still untapped potential for UGC. Typically, UGC is content that a company’s customers or followers create and that the brand shares via its accounts.
For smaller brands, generating user-generated content can be a challenge, which puts them at a disadvantage compared to larger companies that have a more extensive pool of content creators.
But there is a solution to this problem: UGC creators. These are social media users who create user-generated content for brands in exchange for compensation. By making UGC accessible to more brands, the power of user-generated content in social media marketing can be fully unleashed.
3. Prioritizing First-Party Data
Third-party cookies are being phased out by major browsers, including Chrome, which poses a challenge for social media marketers who rely on them to track users and deliver personalized ads.
However, this doesn’t mean the end of data-driven marketing.
Instead, marketers can focus on first-party data, which they own and can use freely in their campaigns.
One way to collect this data is by offering incentives, such as exclusive content or discounts, in exchange for customer email addresses.
Another innovative approach is to build a social media community where brands can directly engage with their audience.
By prioritizing first-party data, brands can maintain their marketing effectiveness and build stronger relationships with their customers.
4. Creating Platform-Specific Content
So, in 2023, we expect to see a greater focus on platform-specific content. Brands will invest more time and resources into creating unique content for each platform, rather than just duplicating it across similar ones.
This means that social media marketers will need to tailor their content to each platform’s unique features and audience preferences. For example, they might create shorter, more visually engaging videos for TikTok, while focusing on longer-form content for LinkedIn.
By creating platform-specific content, brands can better engage with their audience and improve their overall performance on social media. They can also take advantage of new features and trends as they emerge on each platform, rather than falling behind their competitors by simply copying what’s already been done.
Hootsuite found that marketers who invest in creating unique content for each social media platform are much more confident in the effectiveness and success of their campaigns.
Image Source – Platform-Specific Content
Overall, the trend towards platform-specific content is a positive development for social media marketing, as it encourages brands to be more creative and strategic in their approach. By embracing this trend in 2023, brands can set themselves up for success on social media and stay ahead of the curve.
5. AR to Steal the Show
Augmented and virtual reality (AR and VR) have been buzzwords in the social media marketing industry for years, with brands eagerly embracing interactive lenses and filters to create immersive experiences. But until recently, the technology has been prohibitively expensive for all but a select few high-spending advertisers.
However, the tide is turning, and 2023 could be the year when AR and VR make their way into the mainstream. This development is exciting for social media marketers, as studies have shown that interactive elements can significantly boost the effectiveness of social campaigns.
According to Magna Global, interactive ads increase brand awareness and engagement, with 75% of viewers likely to take some form of action after seeing an interactive ad. These actions range from searching for more information online to looking for products or deals, cited by 59%, 64%, and 63% of respondents, respectively.
With AR and VR poised to become more accessible, social media marketers can look forward to creating more engaging, interactive campaigns that captivate audiences and leave a lasting impression.
2023 is set to be a pivotal year for social media marketing, with new trends and technologies shaking up the industry. As a marketer, it’s crucial to stay ahead of the game and embrace these changes to stay competitive.
By prioritizing first-party data, creating platform-specific content, and incorporating AR/VR elements, you can take your social media campaigns to the next level and drive real business results.
At DealsInsight, we’re committed to helping businesses navigate the ever-changing social media landscape and create effective marketing strategies that deliver results. Contact us today to learn how we can help you stay ahead of the curve and win in 2023.