Online Social Media Marketing Trends for 2023
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If there is one thing which keeps rising in this decade, it’s the usage of online social media for advertising and brand building. According to Need-to-know stats, there are 10 trends that should be known by the marketing and branding professionals in this year. It’s worth spending little bit of your time to read through this article. Before getting into details, let’s look at the overall social media picture in a nutshell.
- In 2023, there are estimated to be 5 billion total social media users worldwide.
- The average person bounces between seven (7) different social networks per month.
- The amount of time internet users spend on social media is now higher than ever — 151 minutes per day. (Close to 2.5 hours)
- TikTok is the fastest-growing platform with a staggering 100% user growth rate between 2020 and 2022.
- The number of social media users worldwide grew by only 3% year-on-year from January 2022 to January 2023 (+137 million users.)
- It’s now projected that $130.5 billion of total social media ad spending will be generated through mobile by 2027.
- Social media recently overtook paid search as an advertising channel, growing 25% year-on-year and exceeding $137 billion (just edging out search’s $135 billion).
- Retargeting ads are the most-used among marketers, with 77% of B2B and B2C marketers alike saying they use retargeting as part of their Facebook and Instagram advertising strategies.
- Total spend on social media advertising is projected to reach $268 billion in 2023.
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The above analysis is based on feedback collected from 176 respondents in the B2B and B2C markets. Let’s now take a look at the trends for 2023.
1. “Edutainment” content will rule – edutainment is no more just for kids. It’s becoming increasingly important for adults as well. It has become a trend among adults to watch educational videos in the areas where they need to find expertise to be in par with the rest. The creator of such content too is getting more and more followers and for this reason brands try to create more educational videos and also try to advertise in edutainment links to reach out to more targeted audience.
2. Businesses will put more money behind video production – When an average American is watching Tik-Tok for 80 minutes on daily basis, you know it’s not a fad anymore. To ensure their brand can stand out in this new social media landscape, forward-thinking companies will invest more in video production equipment and staff. Most companies are setting a separate team for video creation and allocate more budgets.
3. “BeReal” will be a turning point for brands - BeReal is a French social media app released in 2020, developed by Alexis Barreyat and Kévin Perreau. Its main feature is a daily notification that encourages users to share a photo of themselves and their immediate surroundings given a randomly selected two-minute window every day. A lot could happen in the coming months. For all we know, BeReal could introduce advertising features for brands. What really matters is figuring out what authenticity looks like for your brand and leaning in. Brand authenticity will make or break your business on social media. Shift your focus away from fleeting viral trends and dig into what matters to your audience and business. (This might not be directly relevant to Sri Lankan context).
4. Businesses will experiment with emerging (and re-emerging) networks - First, try running a poll on your most active social media account to gauge interest in a specific network. Then, use a social listening tool to see the full conversation surrounding the network. Dig into sentiment and demographic data to determine if it positively aligns with your audience preferences.
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5. The creator economy will continue to blossom – Marketers across industries collaborate with creators to generate more engagement, strengthen social communities and reach new audiences. As the playing field becomes more diverse and focused, more brands will be able to find and connect with creators that operate within their target market. In 2022, influencer content was watched 13.2 times more than media and brand content.
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6. Employee advocacy will be the social media trend to talk about - In 2023, brands will tap their workforce to become creators. Employee advocacy has been a hidden social media marketing gem for quite some time. This year, thanks to a costly paid ad environment and declining organic reach, it will step into the spotlight. As more success stories come to light, advocacy will become the go-to method of building a brand presence within an industry. LinkedIn plays a gigantic role in this aspect. It’s noteworthy that in certain markets, the LinkedIn penetration is more than 50% of the total population and it makes LinkedIn not only a platform for B2B, but also for B2C for advertising. There are more than 900 million members across 200 countries on LinkedIn. The United States has the highest user rate in the world on LinkedIn with an audience reach of over 199 million users. There are over 63 million company profiles on LinkedIn.
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7. How brands talk about sustainability will change - This practice—known as “green-hushing”—comes as a response to fears of being called out for greenwashing. Numerous non-profit watchdog organizations are dedicated to calling out faux-sustainability claims. Overstating your brand’s practices can land an entire business in hot water. Treat every post that discusses your business’s corporate social responsibility practices as a PR announcement. Vet the copy and claims with a PR and CSR rep to make sure what you’re saying is accurate and to identify any potential risks that post presents.
8. Social customer care will become a vehicle for surprise and delight marketing – Brands like Notion, Tumblr and more are going above and beyond in inbound message responses to gain organic social marketing traction. Whether they make you laugh or simply feel heard, it creates a delightful experience for the customer and for everyone else that sees the brand response in their feed. These proactive marketing strategies drive more personal connections, creating new fans in the process.
9. Social commerce will get up and dust itself off – Social commerce was the social media trend on everyone’s mind late 2020 and in early 2021. Then, mounting recession fears promptly pushed it into a backseat. Networks rolled back features, brands made strategic pivots and we all braced ourselves for whatever lies ahead. And then people kept shopping.
The end of 2022 saw a record-breaking Black Friday/Cyber Monday, a surge in spending on luxury goods, and the return of “haul” posts on TikTok and Instagram Reels. Despite a gloomy economic outlook, people are still spending on their favorite must-haves and doing their purchasing research on social.
10. We’ll see exciting metaverse brand activations - There’s a bit of a learning curve here, so give yourself time and take inspiration from brands you admire. Meta is taking over social media campaigns and is providing a platform to run campaigns effectively. It will soon be the best activation friend of all brand manager.
There is so much to capture under the topic of social media advertising however, this article can’t consumer more space on the paper. Therefore, I encourage you to read online for further information. From what I have shared, what’s evident is that marketers and brand managers soon will have to give up on advertising. It will all be done by the consumers. Marketers will only have to face the reality. Bettering products and providing greater value for money will pave the way for success in the future.
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