Marc L. Goldberg
Buying online is a way of life in 21st century America. You cannot scroll for more than five seconds on almost any social media app without seeing an opportunity to buy something. Our opportunities to buy online are endless, whether it be TikTok, Instagram, Shopify or sponsored content.
Again this year, HubSpot reached out to find what are the trends that will impact us all as small-business marketers. They surveyed over 1,500 brand marketers and found that the content that gets the most notice is authentic and ones that elicit emotional responses. Eight in 10 marketers are using AI tools in executing their social media strategy. So, what is memorable today in this AI world, “original, personalized, valuable posts.”
HubSpot found that 25% of marketers are currently leveraging their strategy to sell products directly via social media apps and 50% of those marketers plan to increase their social media spend in 2024.
What are the top five social media platforms for B2B? Facebook 55%, Instagram 50%, YouTube 48%, LinkedIn 48%. B2C? Facebook 65%, Instagram 53%, YouTube 61% and LinkedIn 31%. Brands need to be agile when it comes to social media so depending on what is happening on any specific platforms marketers need to be ready to pivot when needed.
In 2024, YouTube took over as the highest engaged platform taking the place of Instagram and Facebook. Shortform video is being challenged by long form video and ongoing series. Remember where audiences go, brands go.
Marketing goals for social media have changed year over year. In 2023, marketers were looking to increase engagement, increasing brand awareness, growing communities, driving website traffic and increasing overall revenue and sales. In 2024, the social media marketers are increasing brand awareness and reaching new audiences, driving website traffic, increasing overall revenue and sales, getting a better understanding of customers and their needs and fostering relationships with customers and increasing brand loyalty.
So what are the challenges moving forward? HubSpot’s research found that marketers were challenged by creating engaging content, keeping up with new features, trends and algorithm updates, finding new ideas for content, reaching target audience, and creating content that generates leads for sales
2024 Trends
Social media marketers are using AI tools to create more effective content. If 80% of marketers surveyed by HubSpot are using AI tools, how are they using it? Creating social media content faster and curating content that is more customized to their audiences. The survey also indicated that those marketers that used AI tools reported the resulting posts performed better than those made without AI. Almost 90% indicated that AI tools were crucial to their successes in 2024. However 64% reported that using AI tools for content creation could harm their brand.
Social media platforms evolved into eCommerce platforms. Consumers are fully engaged with buying online. Online shopping is up almost 40% year over year. Half of GenZers and Millennials report buying directly via a social media platform. Building trust with online shoppers means keeping up with social commerce. Those that are successful have personnel dedicated to social commerce activities like maintaining the social shop, providing customer service through DMs and engaging with shoppers. The big changes is that consumers are buying directly from social media sites rather than through 3rd party websites and from brand websites.
Consumers do their research primarily via social media and video vs. search engines. One in 4 buyers prefer to search for brands on social media platforms vs. search engines. Almost a third for GenZer’s and Millennials are using AI chatbots for every day research. Their research is closely linked to influencer reviews, brand videos and which product is more searchable and easiest to buy.
Short form video delivers the highest ROI and engagement. Of all the engagement and content formats short form video continues to consistently outperform other forms of social media options. Surveys have shown that consumers prefer videos, photos and images to words. Short form video is most popular among GenZ, Millennials and GenZ populations.
Memes and funny posts outperformed product focused content. The hard-sell doesn’t work as well as platforms where viewers are seeking entertainment, inspiration and relatable content. Humorous content is like a social media superpower. Why? It captivates audiences, boosts viewer engagement and is more memorable because it breaks down barriers showing the human side of the brand. Remember, humor is subjective so it must be tailored to the audience, remaining authentic and connecting through laughter. How popular are memes or cultural messages that communicate from one person to another? Ninety-two percent of marketers continue to plan to implement memes in their messaging in 2024 and 97% continue to use humor in their social media campaigns.
Change is the axiom of today in marketing and all form of business life. What changes can we expect for the remainder of 2024 and into 2025? (1) Using AI tools in social media will become more important. Get ready to invest in AI tools. (2) Using data to drive social media marketing strategies will become more important. Build out easy to use social media dashboards or reports to help make decisions based on results. (3) Marketers will have to plan ahead in case they have to pivot as world events drive real life environments. Creating customized content that is tailored to the interests and needs of the audience will become more important. And, creating content that reflects the brand’s values will become the standard not the exception.
Contributed by Marc L. Goldberg, Certified Mentor, SCORE Cape Cod & the Islands, www.score.org/capecod. 508/775-4884. Free and Confidential mentoring for businesses and nonprofits. Source:SCORE’s Partners in Success Newsletter, SCORE SEMA, July 2024
