There were an estimated 4.89 billion social media users worldwide in 2023. Marketers everywhere have realized that social media is one of the most successful tactics to reach large audiences. Our team at Social Eyes Marketing complied a list of some more relevant projections for the future of social media and how they will change what we do as marketers!
Utilizing What Have We Already Learned
Currently, the state of social media marketing is ever-changing. We have seen several platforms jump in popularity and others slowly drop off, leaving marketers to find new ways of engaging with their audiences. As technology continues to advance, so will the capabilities of social media marketing.
For better or worse, social media networks are expected to become increasingly tailored to individual users, making it easier for businesses to target a specific audience.
The biggest thing constant we have learned thus far is that social media is the ideal setting for marketers to reach a very specific audience. These platforms have also created the perfect place for consumers to interact with others who have similar interests or niches. This means that word-of-mouth advertising is transitioning into sharing or engaging with posts that will then appear on others’ feeds.
Being that social media platforms allow and promote interactions between other users as much as possible, many people consider these platforms to be communication hubs. While this is true, social media consumers are using their apps to do more than communicate with others. These platforms are now transitioning into a place for people to buy or sell products and services.
The Rise and Future of In-App Purchasing
Over the last few years, there has been a massive increase in in-app purchases (IAP). One culprit for this increase is the COVID-19 pandemic and everyone staying home for an extended period of time. In just one year from September 2019 to September 2020, IAP rose 54%. Something to note is that online retail through social media is said to still be in its infancy and will continue to grow immensely in the near future for many reasons.
For example, anyone who has purchased something online knows the anxiety that comes with worrying if your purchase is going to match your expectations or if you’ll have to go through the dreaded process of making a return. New technology is making it possible to “test out” a product before buying it. Sephora, a well-known beauty brand, already allows users to compare certain products in a side-by-side view of their face.
This new technology is already expanding to furniture and other home items. The main reason that this will be highly useful for marketers is that people are more likely to purchase a product if they can get a virtual experience with it. If an ad appears on their social media feed and they see there is an option to test the product before purchasing, they may be more inclined to purchase it.
Increases in Personalization
Have you heard someone say they avoid researching certain topics on their phone because it will affect their algorithm? Social media feeds are tailored in the sense that apps will show posts that are relevant to what users search for and interact with. There will definitely be an increase in tailored content in the future, but users may worry that a sense of personalization will be missing.
The challenge for marketers is to make it so those posts and ads appear as if they came from a real person and less as they came from an algorithm that is spitting random content at them based on their search history. As marketers, we are always looking for better ways to connect with people and break down the barriers so there can be authentic interaction with them.
Are you ready to start utilizing social media to reach your target audience? As one of Boise’s leading marketing companies, we are here to guide you in the right direction to get ahead of social media and internet marketing trends. We work hand in hand with our clients to create content the boosts engagement and customer interest. Contact our professional team at Social Eyes Marketing today and let’s talk about how we can improve your digital marketing!