Social media users have grown from 2.5 billion in 2017 to 4.89 billion in 2023. These statistics show how fast social media is growing and the propensity to grow even more in the next few years.
Given the importance of social media in people’s lives, we can conclusively say that social media has come to stay, and so should your show business—utilizing the many opportunities of social media to grow and continually turn in customers.
Since similar businesses are also vying for the same space and recognition, you can only stand out with the right marketing strategies. This would involve staying updated with the latest social media trends.
The following are 2024 social media trends you should pay attention to.
Sociallybuzz is a leading social media marketing, management, and digital advertising agency for small and medium-sized businesses. With over 12 years of experience, we know how to create and execute marketing campaigns that will help you grow your business. Our social media agency has created successful targeted social media campaigns that acquired our customers more leads, sales, and revenue.
Many people reach out to their phones first thing in the morning to check social media platforms immediately after waking up.
The daily time social media users spend on social media platforms is growing steadily. People use social media for two hours and twenty-seven minutes daily on average. Compared to 2012, this is roughly an hour more than people spent on social media.
During the pandemic, social media usage—including messaging apps like WhatsApp—rose by 21% globally. Because of this dependence on social media, social media usage is taking an upward trajectory in the near term and is also becoming more popular in digital marketing.
This social media trend is impacting how businesses approach digital marketing and providing companies with sizable followings they can turn into communities and leverage for marketing purposes.
Brand authenticity means a business is true to itself and its customers. Brand authenticity gives rise to brand credibility. Consumers seek practical information they can apply to their daily lives.
They seek a personal connection with businesses and proof that a brand is relatable and aligned with their values.
According to Sprout Social, 57% of consumers are willing to spend more with a brand they feel connected with, and 76% will choose to purchase from that brand over a competitor.
Trust is at the top of the list of reasons consumers go for a particular brand. There’s no denying that customer behavior is constantly changing. Today’s consumers expect authenticity from brands; sixty percent of consumers feel that transparency and trustworthiness are the most essential brand attributes, above all others.
A brand can show authenticity by maintaining transparency—propelling company leadership to talk about current events and ensure an active social media presence. Transparency promotes long-term trust and makes a brand appealing to customers even during a crisis.
In a 2020 survey, 92% of respondents want company CEOs to take a stand on controversial issues. In another survey, 38% of consumers say that a CEO’s transparency would encourage them to purchase from a brand, and 32% say it would inspire them to be more brand loyal.
A relevant social media crisis management plan will be a trend in 2024 because of how rapidly information can be disseminated across social media platforms.
This includes both minor and major issues. If a seemingly minor problem is not resolved, it can grow into a far more severe issue and harm the reputation and profitability of your company.
Even though over 95% of companies anticipate a crisis within a space of two years, less than 40% of US business leaders, as of 2020, reported having a relevant crisis plan in place.
Customers nowadays want brands to be honest and open, especially during crises. Businesses that manage their social media crisis and are transparent during crises regain their audience’s trust.
In one report, 89% of social media users say that they would trust businesses that admit to their mistakes during a crisis and are open about their efforts to resolve the problem.
In a survey authorized by Twitter, 61% of users said that brands should use their communications and advertising to address crises as they arise.
A case point of a brand that didn’t manage its crisis well is Peloton. The Tread and Tread+ machines manufactured by the brand were recalled following an accident resulting in the death of a six-year-old child in 2021.
Even though this was an urgent problem, Peloton took over a month to begin managing the crisis. As a result, It received backlash from customers and social media users for not addressing the issue sooner.
Read More: Learn how to create a social media policy for your business
After the event of Covid 19, social media is still maintaining the rank of a popular shopping platform for many consumers.
In 2022, social media recorded a gradual emergence of social media commerce, which enabled consumers to make direct product purchases on social media platforms.
Social media platforms are anticipated to grow in popularity as shopping destinations for customers in 2024. According to a HubSpot survey, 22% of social media users bought a product straight from Instagram, while 21% bought products on Facebook.
Furthermore, it’s predicted that the US will have about 108 million social buyers by 2025, and global social commerce sales will reach an astounding $6 trillion by 2026.
As social commerce grows, social media platforms incorporate features that facilitate user shopping. For instance, Instagram Checkout enables users to purchase directly from the app without visiting external websites.
Social media companies will likely roll out features that simplify conversational marketing. An example is Facebook Messenger, which facilitates the monthly exchange of over 2 billion messages between customers and companies.
With Facebook Shops, customers can buy straight from chats with businesses using Instagram Direct, WhatsApp, or Messenger.
It is projected that video content will make up most of online content in the upcoming years.
However, bite-sized and short-form content will be the spotlight. Since 73% of people prefer to watch a short video to learn more about a product or service, short-form videos can be handy tools for marketing, education, and raising audience engagement.
The average human attention span is 8.25 seconds, so with today’s audience having a shorter attention span, bite-sized content—like short-form videos—allows brands to pass their message across and still drive engagement.
Short-form video possibilities are endless, which is why it remains a continual trend. Social media users are drawn to short-form, engaging, and entertaining videos.
This, however, shouldn’t mean less quality. High-quality short-form video content will break through the noise and hold your audience’s attention.
Social media advertising is climbing as many businesses care about spending on social media ads. Digital ad spending exceeded $521 billion in 2021; analysts predicted that the amount will rise to $876 billion by 2026.
According to the GWI Social Report, 28% of internet users usually learn about new brands and products through social media advertisements, and almost 80% of users say they use social media to research brands.
Since consumers go to social media platforms to look for products and services, they’re likely to purchase from a business they view their ads. Data from SurveyMonkey shows that 48% of social media users have made a purchase following an advertisement.
One of the main factors contributing to the success of social media ads is targeting.
A study by PWC found that 31% of respondents were interested in targeted advertising and promotions, with 43% of Gen Z respondents expressing the highest level of interest. 37% of respondents said that ads that immediately connect them to deals and promotions for their preferred brand or product mainly affect their pre-purchase decisions.
The key to running effective social media ads in 2024 will be ensuring your targeting is highly targeted.
The loom of artificial intelligence started in 2022 when it became mainstream. According to Hootsuite, organizations report that they intend to double their use of AI across various activities—sometimes tripling or quadrupling it.
Artificial intelligence-generated content is created with artificial intelligence tools such as natural language processing, machine learning, and computer vision.
Social media platforms have increased demand for high-quality, engaging, and personalized content. Using AI ensures faster content creation, increased personalization, and cost savings.
However, One of the most serious concerns is that AI-generated content may lack creativity and authenticity. There is also the possibility of mistakes, biases, and ethical concerns when using AI-generated content.
Understanding the benefits and drawbacks of leveraging AI-generated content will help marketers use AI to retain content authenticity and creativity while achieving their objectives more efficiently.
Read More: Artificial intelligence for call centers
According to the Global Web Index, 76% of internet users are members of online communities. Building online communities is essential for maintaining social engagement and retaining customers. 66% of branded communities report that the community has influenced customer retention.
The incredible thing about a focused and effective community is that it hosts the brands’ most loyal and dedicated customers. These are the ride-or-die customers, the first to buy and support.
With all of this in mind, it’s no surprise that some social media platforms, such as TikTok and Instagram (Reels), have added useful features that allow you to respond to comments with videos and provide even more value.
Here are some pointers to help you get started in creating a strong community:
Social networks constantly evolve into retail platforms, from shoppable posts to Instagram Storefronts.
According to eMarketer, the social commerce industry will be worth $80 billion by 2025. In 2024, brands and marketers will continue to use and incorporate social commerce into their sales strategies.
The following are social media commerce statistics you should know:
When mapping out your social media strategy, be sure to give serious thought to this. Ensure you make social media purchasing seamless for your customers.
Influencer marketing isn’t a new trend but is here to stay. Today’s social media is dominated by influencers who are paid exorbitant sums to promote brands.
Not only is there an increase in the number of social media influencers, but there is also an increase in business marketing spend on influencer marketing.
Investing in influencers is much less expensive than running paid ad campaigns, and it produces excellent results.
Furthermore, influencers can assist marketers in achieving more than just lead generation. These are the two main reasons it has grown in popularity and continues to dominate.
Today’s customer wants immediate response to their complaints or inquiries. Many brands have begun recognizing social media networks as platforms for customer service.
Because of the increased demand for speed and personalized attention, many brands are providing customer service and support via social media.
According to a HubSpot poll, 90% of customers expect an immediate response from a brand when they have a customer service question.
While some may believe that public complaints reduce brand value, many companies quickly respond to these complaints and turn them into opportunities. By responding, the brand demonstrates that it is actively listening to customers, which in turn increases brand loyalty.
Social media usage is expected to continue to rise in the coming years. And, despite the new competition, social media giants (such as Facebook, Instagram, and Snapchat) are not going anywhere.
Increasing engagement is expected to fuel social commerce and generate revenue for businesses. As a result, businesses should look for more ways to tailor their social media strategy to the changes these platforms implement.
This article covers the social media trends that will dominate the landscape in 2024 and beyond. You can stay ahead of your competitors by capitalizing on these trends.
Sociallybuzz is a leading social media marketing, management, and digital advertising agency for small and medium-sized businesses. With over 12 years of experience, we know how to create and execute marketing campaigns that will help you grow your business. Our social media agency has created successful targeted social media campaigns that acquired our customers more leads, sales, and revenue.
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