Social media is evolving constantly. It’s not just a place people share embarrassing and old photos on Thursdays. You need to know how to leverage these platforms to improve your business. The survival of any business needs activity on social media.
Being active on social media does not translate to success automatically. Staying up to date with current social media and marketing trends and applying them is the way to go. Today, social media and marketing go hand in hand, especially in this online world of competitive pricing. Knowing the most effective trends in 2018 will help your brand stay on top of things.
1. Live Videos
Live video content was big in 2017 and they continue to be popular in 2018. It has become so popular that the majority of brand executives consider it a crucial part of their marketing strategy in 2018. 80% of audiences prefer a live video as opposed to a blog. 82% of consumers would rather watch a video than read a post on social media.
Buffer’s report on the state of social media shows Facebook is the leader in live streaming. However, only 31% of business promoted their brands using live videos. Businesses need to understand how the trend can increase their engagement with consumers. They should start going live on their distribution channels and respond to comments in real time. This move will generate new leads and increase overall reach.
Chatbots have been in existence since the days of AOL instant messenger. Today, they are integrated into all social media platforms. These bots are used by businesses to communicate with consumers. For instance, the first year the bots were used on Facebook Messenger, the number jumped from 33,000 to over 100,000. The bots recognize certain key phrases sent by users. They then provide automatic responses that are programmed for a certain group of phrases or words.
It is a winning solution, and also a cost-effective alternative to hiring human customer support representatives. Juniper Research estimates that chatbots are going to save banking and healthcare industry businesses $8 billion a year by 2022. In 2017, the bots saved such businesses $20 million a year.
3. Evolving Influencer Marketing
A micro influencer is a person on social media who is not a celebrity but has a strong following. They usually have anywhere between one thousand to 90,000 followers. Influencer marketing is an old concept, but social media channels are using it differently. Companies have started increasing their credibility by partnering with micro influencers. There are some reasons why companies are partnering with micro influencers.
Studies show traditional celebrity influencers have 60% lower engagement rates than micro influencers. Therefore, micro influencers can make a company experience more than a 20% increase in weekly conversions. These influencers are also affordable compared to other advertising mediums. Followers trust the opinions of influencers. Spending money on influencer marketing is a great 2018 marketing strategy.
4. Social Media Paid Advertisements
Paid advertisements on social media are recommended for companies that want to maximize social media marketing. Social media platforms have millions of businesses paying for advertisements. It’s because it is easy to set up an advertisement that targets a particular demographic. Every business will love this kind of precision targeting.
Apart from reaching a target audience, social media allows you to set a budget. Options such as daily and weekly setups are available. There is also a plethora of options when it comes to the type of advertisements. This makes it easy for companies to experiment and determine the best ads for their brands. It is estimated that social media ads will surpass print ads by 2020.
There are constant changes in developments on social media. As a business owner, who must always have an eye out for competitive pricing, you need to ensure you effectively reach your target audience and keep your finger on the pulse. This can only be done by staying up to date with the latest social media trends.