Emerging Trends That Businesses Must Take Advantage As Part of Your Social Media Strategy
Are you looking to stay ahead of the competition and maximise your social media strategy for your business? The world of social media is constantly evolving, and businesses must adapt and take advantage of emerging trends.
In today’s fast-paced digital landscape, staying up-to-date with the latest trends can make all the difference in reaching your target audience and driving engagement.
Whether you’re a small business owner or a marketing professional, understanding and implementing these emerging trends can give you a competitive edge in the ever-changing world of social media.
So, let’s dive in and explore the emerging trends that businesses must take advantage of as part of their social media strategy in 2023.
Social Selling Gets More Advanced
Social selling is a modern sales technique that harnesses the power of social media platforms to find and connect with new customers.
With the rise of social media, this strategy is becoming more advanced and sophisticated, allowing businesses to reach their target audience more effectively.
For example, Facebook’s dynamic ads allow businesses to showcase their products in a personalised and targeted manner, while Pinterest’s ‘Shop the Look’ feature enables users to purchase products directly from Pins. TikTok’s ‘Shop Now’ button lets businesses direct users to their online stores.
According to statistics1, 61% of organisations involved in social selling have experienced revenue growth.
Additionally, sales professionals who incorporate social selling techniques have a 40-50% higher success rate in closing new businesses than those who do not.
Micro-Influencer Marketing
Micro-influencer marketing is also emerging as a significant trend in the social media space. Micro influencers are individuals who have smaller followings, typically between 1,000 and 100,000 followers.
However, they are highly influential in their niche and have a much higher engagement rate than traditional influencers, primarily because they maintain a closer connection with their followers.
50% of online customers in Malaysia2 prefer to engage with micro & nano influencers, while 30% of consumers in Malaysia value personal connections with influencers.
This perceived authenticity can translate into a stronger impact when promoting products or services, as followers are likelier to trust their recommendations.
User-Generated Content Remains King
More and more brands recognise the power of user-generated content (UGC) as part of their social media strategies. They play a pivotal role in social media marketing as it is a powerful tool to amplify a brand’s visibility, credibility and engagement.
UGC refers to any form of content – be it text, images, videos, reviews, or blog posts – created by consumers or end-users of a product or service.
According to a study3 by Search Logistics, 79% of people believe that user-generated content strongly influences their purchasing decisions, resulting in a 35% increase in content memorability compared to professionally created content.
Social Media Will Become a Customer Service Tool.
The advent of social media has revolutionised the way businesses interact with customers, with an increasing number of businesses leveraging these platforms for customer service.
Previously, customers would reach out to businesses through traditional channels like telephone or email, but the rise of social media channels like Facebook and Instagram has seen a significant shift in this trend.
Today, customers are increasingly turning to social media to voice their concerns, leave feedback, or enquire about products and services. This shift can be attributed to the convenience of social media and its potential for immediate response.
However, the response management could have been improved across the board.
While 63% of social media complaints4 receive a response within 24 hours, only 32% of individuals are satisfied with the timeliness of the responses.
Additionally, 39% of social media users anticipate a response within 60 minutes. However, in reality, businesses typically take around five hours to respond on average.
Brands are now expected to respond promptly to customer queries and complaints on these platforms. The emphasis is on providing a quick, effective, and personalised response.
Aligned Marketing and Sales Teams Will Win
When marketing and sales teams work in harmony, they create a unified approach that ensures a consistent and compelling brand message across all channels.
This alignment is particularly critical in the realm of social media strategy, where consumers expect immediate, personalised, and seamless interaction with brands.
An integrated approach allows for a more comprehensive understanding of customer behaviour, preferences, and needs, enabling the business to create targeted, effective social media content.
That also leads to 38% higher sales win rates and 36% higher customer retention rates, according to Marketingprofs5.
It’s All About Community
As more businesses move towards digital channels, the concept of community has become increasingly important. Building a sense of community among consumers is essential for brands looking to increase visibility and engagement on social media.
The 2020 Community Industry Trends Report6 indicated that 88% of community professionals consider community to be crucial to their company’s mission.
To add on that, 83% of consumers report that word of mouth has an impact on their purchasing choices.
https://www.talktriggers.com/cm
This shows how valuable communities can be in helping to drive sales and build loyalty.
When customers feel connected to a brand, they are more likely to recommend it to others, leading to organic growth. They can provide valuable feedback and insights on improving products or services, which can help a business stay ahead of the competition.
The Human Touch Will Play a More Prominent Role
Related to the previous point, rather than pushing out generic, one-size-fits-all content, businesses are now prioritising user-generated content, showcasing real customer experiences, and fostering a more genuine connection with the audience.
This approach not only cultivates a sense of community around a brand but also builds trust and credibility, as customers perceive user-generated content to be more reliable and unbiased.
According to Mulesoft’s 2022 Connectivity Benchmark Report7, 70% of organisations face challenges in delivering fully connected user experiences across all channels.
Three-quarters of consumers surveyed by PwC8 said they want more human interaction in the future, not less.
Therefore, there’s a potential to leverage human touch across all online presence to provide users with a more personalised and connected experience.
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References
1 Guide, S. (2023, March 27). The Ultimate Guide to Social Selling. Sales for Life. Retrieved August 25, 2023, from https://salesforlife.com/social-selling/
2 Taslaud, G. (2023, June 26). Influencer Marketing in Malaysia in 2023 – The Complete Guide. INSG.CO. Retrieved August 25, 2023, from https://www.insg.co/en/influencer-marketing-malaysia
3 Woodward, M. (2023, July 18). These Are The User Generated Content Statistics You Need To Know. Search Logistics. Retrieved August 25, 2023, from https://www.searchlogistics.com/learn/statistics/user-generated-content-statistics/
4 Amaresan, S. (2021, March 16). What Are Your Customers’ Expectations for Social Media Response Time? HubSpot Blog. Retrieved August 25, 2023, from https://blog.hubspot.com/service/social-media-response-time
5 Handley, A. (n.d.). Content Marketing B2B, 2016 Content Marketing Benchmarks. MarketingProfs. Retrieved August 25, 2023, from https://www.marketingprofs.com/charts/2015/28555/2016-b2b-content-marketing-benchmarks-budgets-and-trends
6 CMX Hub. (2020). 2020 Community Industry Report. CMX Hub. Retrieved August 25, 2023, from https://www.cmxhub.com/reports/2020-community-industry-report
7 Mulesoft. (2023). 2023 Digital Transformation – Connectivity Benchmark Report. MuleSoft. Retrieved August 25, 2023, from https://www.mulesoft.com/lp/reports/connectivity-benchmark
8 PwC. (2018, January). Companies have lost the human touch in customer experience. PwC. Retrieved August 25, 2023, from https://www.pwc.com/mt/en/pwc-malta-press-room/companies-have-lost-the-human-touch-in-customer-experience.html
