As we progress through 2024, the landscape of social media marketing continues to evolve at a rapid pace. With technological advancements and changing user behaviours, businesses need to adapt to stay ahead in the digital world. This article explores the latest trends and some of Kiers Marketing’s predictions in social media marketing for 2024. For even more forward-thinking content, check out our blog about knowing your audience in 2024.
The Evolution of Social Media Platforms
- Testing New Technologies
- In 2024, social media platforms are increasingly integrating advanced technologies like AI and AR/VR to enhance user experiences. These technologies are not just transforming how users interact with content, but also opening new avenues for marketers to create immersive and engaging campaigns.
- Take for example the recent viral videos revolving around augmented reality as a way to further enhance your product’s unique packaging or the transparent TVs that can help bridge the divide between digital and physical.
- Rise of Niche Platforms
- While giants like Facebook and X (formerly Twitter) remain relevant, there’s a growing trend towards niche platforms catering to specific interests and communities. This shift allows for more targeted marketing strategies, enabling brands to connect with highly engaged audiences.
- Want to learn more about what we call “the fractured internet”? Check out our blog post dedicated to just that.
Social Media Management: Adapting to Change
- Importance of Agile Strategies
- Social media management in 2024 demands agility and flexibility. With the dynamic nature of social media trends, marketers must quickly adapt their strategies to stay relevant and effective.
- A current example of this over the past couple of years is the shift away from hyper-targeted ads in favour of broader ad targeting and live testing as you analyze the data.
- Don’t forget, it’s still important to BE SOCIAL if you’re going to be on social media. The most successful businesses have always been those willing to act more like human beings instead of sticking to their brand guide almost religiously. If your goal is to grow on social media besides LinkedIn, be social and be fun.
- Leveraging Data Analytics
- Data-driven decision-making is at the forefront of social media management. Advanced analytics tools are helping businesses gain deeper insights into consumer behavior, enabling more personalized and impactful marketing efforts.
- This is THE MOST IMPORTANT TOOL in your toolbox in 2024, but you need to know what to look for and how to analyze it. For example, as social platforms continue to evolve and act more like search engines as opposed to online communities, they may not engage with your social content, but they’ll use it to stay informed and to ultimately head to your online or brick-and-mortar shops to make a purchase.
- A real-world example comes from our Digital Media Manager, Andrew. During his time as the Marketing Manager at Sodexo UNB Fredericton, he did everything he thought necessary to boost engagement, which at the time, he thought would be the best metric to track. His engagement stayed relatively low for two main reasons; first, they didn’t pay for online ads to stay top-of-mind but more importantly, students were looking at his content, but not engaging because they wanted to keep their feed curated in the hopes they would become an influencer. Up until they finally went through both online and offline data together, Andrew was fairly certain his work wasn’t cutting it. However, when they compared year-over-year sales for each of their nine retail outlets, some were up as much as 35%.
- This also speaks to a shift within the internet itself related to “the fractured internet” where engagement is going from public to private. Try tracking messages to your business or shares now as well as Engagement Rate.
Innovations in Social Media Marketing
- Interactive Content
- Interactive content, such as polls, quizzes, and interactive stories, is becoming increasingly popular. These formats not only boost engagement but also provide valuable data on consumer preferences and behaviours.
- NOTE: These may not work right away if you’re new to social media. Interactive content requires followers to interact with it. Stay the course and grow your following. What starts with one or two answers per poll, could end up in the hundreds if you take the time (and/or money) to build your online community.
- Influencer Collaborations
- Influencer marketing continues to thrive, with a shift towards long-term collaborations. Brands are partnering with influencers not just for their reach but for their ability to create authentic and relatable content.
- For New Brunswick-based businesses, we suggest starting with nano or micro-level influencers as their engagement rates are often higher and they are much more cost-effective.
- What is a nano or micro-influencer? Head over to our blog post about influencer marketing to find out.
- The Fediverse
- The Fediverse, a portmanteau of “federated” and “universe,” refers to an ensemble of interconnected, decentralized social media platforms. Unlike traditional social media giants, the Fediverse is built on open-source software, allowing different platforms to communicate with each other while being independently operated.
- BUT, it’s not flushed out yet, especially in Atlantic Canada. However, this is our top long-term trend to keep paying attention to. Stay tuned to the trend and capitalize on it when your resources allow.
- For businesses, the Fediverse represents a paradigm shift. The decentralized nature of these platforms offers access to a more diverse and niche audience. Brands can tap into specific communities, engaging with users who are more invested in particular interests or causes.
- Marketing in the Fediverse demands authenticity and genuine community engagement. Unlike mainstream social media where algorithms dictate content visibility, the Fediverse prioritizes organic interactions. This requires marketers to focus more on building relationships and less on algorithm-driven tactics.
Challenges and Opportunities
- Navigating Privacy Concerns
- As privacy regulations tighten, marketers face the challenge of balancing effective targeting with respecting user privacy. This scenario is pushing for more transparent and ethical marketing practices which we love.
- However, it is getting harder to be certain of the “why” of your results.
- The most recent example of this is the Gmail and Yahoo update starting in February 2024.
- Staying True to Your Values
- Consumers are becoming more conscious of environmental and social issues. Brands that authentically align their social media marketing strategies with sustainable and ethical values are likely to resonate more with modern audiences.
- NOTE: Be careful with your cause-based initiatives as consumers are becoming more critical of words such as “organic”, “sustainable” and “biodegradable”. If you say your products are sustainably sourced, it’s easier than ever for an online sleuth to track that and call you out publicly.
The world of social media marketing in 2024 is one of constant change BUT boundless opportunities for businesses willing to adapt and adjust their strategies on the fly. By staying informed and adaptable, your business can harness the power of social media to create meaningful connections with your audience and drive business success.
Craving more information? Explore our blog page here OR contact us today!