The Social Media Leanings You Should Keep Abreast Of in 2023
With more than 2 billion active users worldwide and a steadily growing pace of 25% each year, social media is certainly one of the most important tools in the world. 9 out of 10 US companies are now active on social media and this is only because they have seen the results delivered in response to the social media adaptation. Still wondering whether to take the social media plunge or not? Here are a few key trends of social media in 2023 that will guide you through.
Social media for customer reach
It is obvious that businesses wanting to increase their sales would go where the consumers are. Understandably, 74% of marketers grew their social media spending in 2021, with the amount spent touching a whopping $29 billion. Wondering where all that much money went? The answer to that question is the key to the new age social media marketing services. These advertisements are definitely not like the old in-the-face irritating pop-ups that trouble you on each page click of yours. These are much more subtle and precise and are social media usage data mining driven ones, based on your interests and preferences. They would have appeared like regular news feeds and posts on your social media pages. Not surprising then, that there was a 36% year on year growth in social media advertising in 2020.
Social media-driven customer spend
Skeptical marketers would prefer to look at the sales generated as a result of the social media marketing in order to understand its worthiness. It is not disappointing in the least. The numbers speak for themselves.
➢ 529,000 commerce orders were converted through the 37 million visits to Shopify stores via social media
➢ 140% increase in orders from Pinterest on mobile devices in the last two years
➢ Facebook drives 2/3 of the social media visitors to Shopify stores
➢ #2 channel for Shopify stores now is Pinterest
The new age social workplace
A social media-driven workplace certainly seems to be the way to go with Facebook at Work soon becoming available to accelerate employee training by leveraging its 1.2 billion user base. Another key number that proves this point is that Slack grew to over 1.5 million active users in less than 2 years. It is estimated that the worldwide Enterprise Social Network’s (ESN) market revenue will grow to $ 4.9 billion by 2013. It is only natural that more and more businesses will encourage their employees as well as customers for social media usage.
The Video – the new social toolOne cannot afford to ignore a tool that like online video that accounts for 50 % of mobile traffic. Its importance hits home when trends suggest that there are 8 billion daily views on Facebook, 6 billion daily views on Snapchat, and more than 50% of year-over-year hours of video is watched monthly by YouTube users.
Thus, it is predicted, that by 2024, 80% of the global Internet traffic will be attributed to video. With such mind-boggling facts and figures, more and more advertisers are turning to video ads in order to reach the maximum possible global audience. YouTube is still the undisputed leader, but others are catching up fast! Learn more on what are the Important Search Trends That Could Influence Online Revenues