Are you curious about what the future holds for social media? As we look ahead to 2024, it’s exciting to speculate on what changes and advancements we can expect in the social media landscape.
Social media has become an integral part of our daily lives, connecting us with friends, family, and even strangers from around the world.
The ever-growing popularity of platforms like Instagram and TikTok has transformed how we communicate, consume information, and interact with brands.
Let’s dive in and discover what the future holds for the world of social media in 2024.
Increased Demand for More Authentic Creator Content
In the era of social media, users are increasingly seeking out content that is genuine and relatable, as opposed to the overly polished and commercialised content that was prevalent in the early days of social media platforms.
This shift towards authenticity is primarily driven by the younger generation of social media users, who value honesty and transparency above all else.
They prefer to follow creators who share unfiltered views of their lives, discuss real-world issues, and engage with their audiences meaningfully. As a result, creators who can deliver this type of content will likely thrive in the coming years.
In Malaysia, several digital content creators1 have gained recognition for their authentic and engaging content, from fashion and beauty to food and travel.
Video Content Domination
In the past few years, we’ve already seen the surging popularity of video content on platforms like TikTok and YouTube, and this trend shows no signs of stopping.
In 2024, social media platforms are predicted to evolve their functionalities further to accommodate this video trend. We can expect to see more innovative video editing tools, live streaming features (which are already available), and video-focused algorithms.
According to a study by Cisco2, it is projected that 82% of online content will be in the form of videos in 2023. This would be extended in 2024 as well.
Additionally, with the rise of virtual and augmented reality technologies, video content on social media will likely become more immersive and interactive.
Platforms will likely create new ways for users to engage with video content, such as through likes, shares, comments, and even virtual reality experiences.
TikTok Will Grow Even More Its User Base
As we look ahead to the social media landscape in 2024, TikTok will likely continue to surge in popularity. This prediction is based on several factors.
First, the app’s unique format of short, engaging videos appeals to the ever-decreasing attention spans of social media users. The ease with creating and sharing content, coupled with the app’s robust algorithm that promotes personalised content, makes it highly addictive.
Second, TikTok’s focus on entertainment, creativity, and authenticity resonates with users, particularly the younger generation, who are increasingly disenchanted with the polished aesthetics and perceived inauthenticity on platforms like Instagram.
As of June 20233, the majority of TikTok users in Malaysia were from the Gen Z age group (19 to 25 years old), accounting for 35.61%, followed by the Millennials (26 to 32 years old), who made up approximately 29%.
In addition, the platform is continuously innovating and adding new features to keep users engaged. For instance, TikTok has recently introduced features for longer videos and live-streaming, which could attract a wider audience and increase user engagement.
LinkedIn Goes Beyond Just Job Searching and Promoting Professionalism
LinkedIn might evolve beyond its present scope of jobs and professional content into a more comprehensive social networking space. This prediction aligns with the trend of social media platforms diversifying their services to remain competitive and cater to a broader range of user needs.
Such a transformation would mean that LinkedIn would incorporate features typically associated with other social platforms, such as personalised content feeds, more interactive post options, and perhaps even elements of social commerce.
In detail, LinkedIn could potentially start using advanced algorithms to provide users with a more personalised content feed, similar to those seen on platforms like Facebook or Instagram.
You’ll also see a rise in learning and development content, making LinkedIn a hub for professional growth and personal development.
Social Media as a Platform for Online Shopping
The integration of e-commerce into social media platforms not only leverages the inherent power of these platforms to influence purchasing decisions but also simplifies the online shopping process for consumers.
Around 62% of Instagram users worldwide4 use the app to research products and brands, with approximately 40% of individuals5 in Gen Z relying on TikTok videos as a source to discover and purchase new products.
In addition, a survey by Rakuten Insight6 in 2023 revealed that 37% of Malaysian respondents affirmed that they regularly made purchases on social media over the previous year. On the other hand, 15% of those surveyed stated that they had never engaged in social media shopping.
The emergence of shoppable posts, Instagram stores, and Facebook marketplace are evidence of this growing trend. Customers can now purchase a product directly from a post or an ad without being redirected to a company’s website.
Imagine scrolling through your favourite social media app and being able to purchase what you see directly without leaving the app; that’s the future we’re heading into.
User-Generated Content Will Keep Increasing
This prediction is grounded in the current trend observed on various social media platforms. UGC is gaining more traction and proving to be a powerful influencer in shaping consumer perception and behaviour.
In fact, online searches for “user-generated content” have increased by 426%7 over the past five years.
In essence, user-generated content refers to any form of content, such as images, videos, text, and audio, that has been posted by users on online platforms, especially social media.
With the widespread adoption of smartphones and high-speed internet coverage, more people are becoming capable of creating and sharing their own content.
Platforms like Instagram, TikTok, Snapchat, and YouTube, which are heavily reliant on UGC, are becoming more popular, especially among younger generations who are inherently digital-savvy.
Social Media Crisis Management Becomes More Crucial
The year 2024 is predicted to witness a necessity for robust crisis management mechanisms to mitigate potential reputational risks.
The need for social media crisis management stems from the ability of these platforms to either build or tarnish reputations swiftly. A single negative post or comment can snowball into a major crisis, with the potential for significant financial and reputational damage.
According to a survey conducted by Crisp Thinking8, 34% of consumers have the expectation that brands will respond to a crisis on social media within 30 minutes.
Twitter’s survey9 showed that 61% of users believe brands should respond to moments of crisis in their advertising and communications in real-time.
Not to mention, 90% of social media users10 believe that businesses have the potential to regain their trust in times of crisis by acknowledging their mistakes and being transparent about the actions they are taking to address the issue.
Therefore, effective crisis management involves monitoring social media platforms for potential threats, responding promptly and appropriately to negative posts, and adopting strategies to rebuild trust and reputation.
To Recap
As we approach 2024, stay agile and adaptive to the dynamic social media landscape. Embrace the rise of authentic content and A.I. while preparing for the evolution of catchier video content.
LinkedIn’s shift, the emergence of social shopping, and increased user-generated content also warrant your attention.
Above all, equip yourself with robust social media crisis management skills.
At Grayscale, we’re passionate about helping you make the most of your social media presence. Our social media experts are ready to help you monitor trends and maximise your reach on social media in 2024.
Contact us at enquiries@grayscale.my to find out how we can help you stay ahead of the social media curve.
References
1 Lim, J. (2021, May 10). 4 Top Digital Content Creators In Malaysia. Tatler Asia. Retrieved November 27, 2023, from https://www.tatlerasia.com/power-purpose/technology/four-malaysian-content-creators-on-surviving-and-sustaining-oneself-in-the-digital-market
2 Cisco. (2020, March 9). Cisco Annual Internet Report – Cisco Annual Internet Report (2018–2023) White Paper. Cisco. Retrieved November 27, 2023, from https://www.cisco.com/c/en/us/solutions/collateral/executive-perspectives/annual-internet-report/white-paper-c11-741490.html
3 Statista Research Department. (2023, July 13). Malaysia: share of TikTok users by age group 2023. Statista. Retrieved November 27, 2023, from https://www.statista.com/statistics/1378785/malaysia-demographics-of-tiktok-users-by-age-group-2022/
4 Dascau, L. (2023, October 10). Social Media Trends For 2024. Socialinsider. Retrieved November 27, 2023, from https://www.socialinsider.io/blog/social-media-trends
5 Perez, S. (2022, July 12). Google exec suggests Instagram and TikTok are eating into Google’s core products, Search and Maps. TechCrunch. Retrieved November 27, 2023, from https://techcrunch.com/2022/07/12/google-exec-suggests-instagram-and-tiktok-are-eating-into-googles-core-products-search-and-maps/
6 Rakuten Insight. (2023, March 28). Malaysia: frequency of social media purchases 2023. Statista. Retrieved November 27, 2023, from https://www.statista.com/statistics/1375378/malaysia-frequency-of-social-media-purchases/
7 Howarth, J. (2023, November 2). 14 Important Social Media Trends (2024-2027). Exploding Topics. Retrieved November 27, 2023, from https://explodingtopics.com/blog/social-media-trends
8 Crisp Thinking. (2019). Crisis impact report: How customers react to a brand crisis | Crisp. Crisp Thinking. Retrieved November 27, 2023, from https://www.crispthinking.com/lp/crisis-impact-report/
9 Twitter. (2022). The state of brand behavior on Twitter and what’s coming next. Retrieved November 27, 2023, from https://marketing.twitter.com/content/dam/marketing-twitter/na/en/insights/real-talk-on-twitter/TwitterNext_RealTalk_Report_2022.pdf
10 Sprout Social. (2019, April). #BrandsGetReal: Social media & the evolution of transparency. Sprout Social. Retrieved November 27, 2023, from https://sproutsocial.com/insights/data/social-media-transparency/
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