According to data by Statista, almost 8 out of 10 US businesses are looking to sell on social media in the next three years. At least 57% of these businesses have already sold through social media platforms.
There’s no denying how crucial social media is to businesses. With over 4.48 billion users, social media provides businesses the opportunity to carve their piece of the market and create strategies that build brand awareness. To do this, companies need to stay on top of the trends and use them to their advantage. In this article, we’ll discuss some growing trends in social media that businesses need to embrace.
1. Videos will remain valuable
According to content delivery network Limelight, people watch almost 7 hours and 55 minutes of online videos, on average, per week. That’s a 16% increase compared to records from 2019. Video will remain one of the most engaging forms of online content available.
For businesses, it’s almost a waste not to take advantage of video content for their marketing strategies. There’s a wide variety of ways companies can utilize videos. Here are a few popular formats:
- Promotional Videos: These videos showcase and promote your products. They could look like traditional TV commercials or short video tutorials. This video format works best with companies that offer products, such as restaurants, software companies, and car dealers.
- Interviews: These videos focus on discussions with guests, clients, or influencers. Interviews are a great way to showcase positive feedback and client testimonials. The format is a great social media marketing strategy for businesses that offer services like HVAC companies and real estate agencies.
- Tips and Tricks: This video format is all about providing valuable advice to consumers. It should work regardless of what industry your business is in and is usually the kind of video that internet users find helpful. For example, a local law firm can produce a video talking about dealing with specific legal processes.
Another emerging trend businesses need to watch out for is live streaming. Unlike videos, live streaming is done in real-time, with customers interacting with the company throughout the event.
A great example of this is the gardening company Molbak Garden + Home. They live-streamed a series of tutorials about gardening. Not only does this help with brand awareness, but it helps show authenticity, which is essential in online marketing.
2. Influencers are still on the rise
The internet has enabled the rise of countless content creators across different social media platforms. Some of these content creators eventually built a significant following and created their tight-knit communities.
Tapping these influencers can be an excellent way for businesses and digital marketers to expand their brand’s reach. Influencer marketing is even expected to grow to $13.8 billion in 2021.
Influencers are divided into several tiers based on the number of followers they have.
- Nano-influencers: 10,000 followers or fewer
- Micro-influencers: 10,000 to 100,000 followers
- Macro-influencers: 100,000 to 1 million followers
- Mega-influencers: 1 million and above followers
While most people would suggest partnering up with celebrities and mega-influencers, consider relying on micro-influencers instead. A micro-influencer serves a small and niche audience. However, they have a far more loyal fan base that’s more likely to try out any brand that their influencer promotes.
3. Social commerce continues to grow
Around 54% of users rely on social media to research products. Social media itself influence 71% of consumer buying decisions. Social media is becoming more and more integral to our daily lives, especially when purchasing products.
While social media remains a great way to advertise, many platforms add features that support online business transactions. It turns social media powerhouses like Facebook into a vast online marketplace.
This is an excellent opportunity for businesses to reach their target audience and directly guide them to their online store. No longer do you have to convince your customers to visit your website.
All your customers have to do is click on your ad on Facebook, and they’ll be sent directly to your store on the same social media platform. Over 22% of internet users in the US were forecast to make at least one purchase on Facebook.
Embracing social commerce helps shorten the customer journey and increase the likelihood of a purchase. This makes setting up social media storefronts a critical trend to adopt in 2021 and beyond.
These are just some of the top trends that will continue to dominate the digital landscape. As the world continues to rely on social media for its day-to-day needs, it’s only logical for your business to leverage these trends and reap the benefits that they offer.