One fact is clear for 2023: social media will become even more critical to businesses of all sizes and industries. Hootsuite surveyed 14,850 respondents in 2022. They found that about 70% of businesses plan to either increase or maintain their investment in social media this year.
As more businesses invest, many are asking about the social media trends that could make or break their social media ROI (Return on Investment). Here at Attention Experts, clients often ask about topics like Facebook trends, recent marketing shifts, and even Instagram trends and hashtags.
Before we dive into the trends for 2023, let’s quickly review the key marketing trends that emerged in 2022.
Social Media Trends: A 2022 Recap
Video Marketing: Last year, businesses rushed to use video at every stage of their marketing funnel. Video is excellent for attracting audiences, retaining interest, and collecting marketing databases for future remarketing. However, it doesn’t perform as well for bottom-of-funnel conversions. (We will elaborate on how to optimise your funnel with different media formats later.)
Shorts: Everyone is either on TikTok or talking about it. In 2022, Instagram and YouTube promoted their short videos heavily using trending hashtags and music. As a result, 38% of surveyed businesses want to increase their investment in TikTok in 2023. This is a big jump from 13% last year. Before you decide, you can learn more about TikTok in this all-you-need-to-know blog.
Covert Engagement: The average social media user in Australia engages 40% less through likes and comments. However, they spent 106 minutes a day on social media in 2022, a 20-minute jump since 2019. People now consume more content passively. They expect brands to produce more valuable content in return.
The Six Essential Social Media Trends for 2023
We have identified six social media marketing trends that will significantly contribute to your campaign success in 2023. We will also reveal some of our best social media campaign practices here at Attention Experts, Australia’s most 5-star rated social media agency. Make sure you read to the end!
Trend 1: Attribution Modelling Returns
We cannot overstate the importance of attribution modelling. This is Facebook’s system for measuring touchpoints along the customer journey. Facebook phased it out in 2019 but is making a comeback this year. You probably know that consumers don’t purchase immediately after seeing your brand. Our calculations show it can take up to 25 touchpoints before they convert. Facebook understands this. The attribution model will help both Facebook and advertisers better understand customer journeys for greater insight.
What does this mean for your business?
If you work to create more touchpoints with your target audiences, you increase your conversion chances. Social media algorithms track and measure these touchpoints. This data determines which brand is more relevant to which audience. Therefore, platforms like Facebook and Instagram can create smarter remarketing strategies. This leads to quicker conversions and ultimately, more ad revenues.
Trend 2: Strategic Video Marketing
Hands up if you created more videos hoping for a better social media ROI. 86% of social media marketers used video marketing in 2022. We did the same at Attention Experts. However, there is a strategic difference: videos work better for the top of the marketing funnel, but single images and carousels deliver better results for bottom-of-funnel conversion.
What does this mean for your business?
Do not use a blanket tactic in your social media marketing campaigns. Test different formats and evaluate their performance. To increase your social media ROI, you should optimise your marketing funnel. Map out the customer journey and understand the attribution model. (We will share some practical tips with you later.)
Trend 3: The ‘Hang Time’ Imperative
This trend isn’t new, but it remains one of the constants in social media marketing. No matter the platform, the algorithm will favour you if you can keep your audience’s attention longer with quality content. Social media platforms want to make money from advertisers. They reward you if you help them keep more users and make them stay longer.
What does this mean for your business?
Businesses need to create better quality content that their audience actually cares about. Stop the cold call-to-action and hard selling. Start by creating valuable content for people to consume first, and build from there. You need to leverage social media analytics. This helps you know what your audiences want to see and lets you stay ahead of social media trends to grab attention.
Trend 4: Social Commerce Maturity
Social commerce refers to eCommerce taking place directly on social media. It gained popularity during the COVID pandemic and will mature further in 2023. Developing social commerce is a natural step for social media platforms. Millions of people spend more than an hour on social media, and 92% of users say they have acted instantly after seeing a product on Instagram. According to Forbes, social commerce is a $1.2 trillion opportunity.
What does this mean for your business?
You might wonder how to invest in this trend. Integrate social media marketing into your overall business strategy, rather than treating it as an isolated tool. If your products can sell directly on social media, build social commerce into your 2023 marketing plan. Even if your offers aren’t compatible, you can still use social media to showcase unique customer experiences and, crucially, for customer service. Brands using social media for better customer service will achieve a higher retention rate. For example, one of our new clients joined Attention Experts within a week of her first visit to our website simply because she liked businesses with prompt responses.
Trend 5: Organic Reach vs. Paid Ads
Organic content performance declined in 2022. This is bad news for brands yet to use paid ads in their social media campaigns. Mark Zuckerberg revealed Facebook’s plan to allow AI to recommend 40% of posts outside of your network in your feed. Coupled with more ads in your feed, this will decrease organic reach further.
What does this mean for your business?
Businesses must consider social ads and focus on key metrics and ROI. Social media advertising can be as cheap as $15 per day. We have done this for many of our clients. Some social media campaign budgets are as low as $5 per day with multiple leads coming in daily (cheaper than a McDonald’s Happy Meal, by the way). The key is to develop a clear social media strategy that addresses your campaign goals. Once your social media ad is live, someone must monitor performance and keep optimising until it meets your satisfaction.
Trend 6: Outsourcing to a Social Media Agency
As more businesses go digital, they increasingly appreciate social media’s value. After some trial and error, many brands realise the benefits of hiring a social media agency. For instance, you get six highly trained specialists working on your campaigns at Attention Experts. Best practices and timely services are available with a phone call and at a fraction of the cost of an in-house team.
The maths is simple. Hiring an in-house social media manager costs $77,500 to $120,000, excluding pension contributions and benefits. By comparison, full agency fees, including VAT and ads expenses, are often well below half of that. Plus, you choose service packages based on your specific needs.
What does this mean for your business?
Exploring a social media agency is worthwhile. It is crucial to talk to different agencies and examine compatibility. You have worked hard for your business and should only partner with someone who truly understands your goals. Many agencies offer FREE consultation sessions, so take advantage of that.
If you need a detailed guide on what to look for, download our FREE PDF on the Pros & Cons of Hiring An Internal Team VS. Hiring An Agency.
Social Media Tips to Action in 2023
- Test Formats by Funnel Stage: Test which format works best for which stage of your funnel. At Attention Experts, we found videos work best for collecting databases, while single images and carousels outperform videos for bottom-of-funnel conversion. Optimise your marketing funnel and experiment with different formats.
- Create Bite-Sized Content: Shorter attention spans and the rising popularity of shorts mean users favour clear, easy-to-consume, and fun content.
- Track the Correct Metrics! We see many brands track followers and likes, but these metrics are NOT actionable. They are unlikely to lead to leads or sales. The most effective metrics to track are views, clicks, visits, CPM, CTR, and leads.
- Understand the Attribution Model: Make sure your website has Google Analytics set up and Facebook pixels installed. These tools help you track visitors and their touchpoints with your brand. Integrate your marketing channels to collect databases and remarket to increase touchpoints.
- Warm Up Audiences with Value: Hard selling and cold calls-to-action are ineffective. As people engage more covertly, businesses must create content that showcases their business-to-customer journey (e.g., the team, behind-the-scenes, customer experiences, etc.).
- Turbocharge Organic Reach with Paid Ads: Businesses will see their organic reach drop over time without paid ads. Social media platforms continue to monetise. Paid ads can actually boost your overall organic reach. Plus, the ad budget can be as low as $15 per day, which is very affordable.
- Think ‘Social Media Plus’: Social media is now a fundamental part of life. We use it for staying connected and researching brands. Don’t see it as an isolated app for posting beautiful pictures. It is a business channel that should incorporate different business functions, from marketing and sales to customer service and community building. Make social media the centrepiece of your success!
- Flexibility and Transparency: If you are contemplating hiring an agency, here are some questions to ask: Does this agency require locked-in contracts? Does it tailor service packages to my business’s specific needs? What are their customers saying? What campaigns have they worked on, and what are the results? Do they have a strategic formula for building social media success, and what is it?
How Can We Help You?
We know this is a lot to take in, especially if you are busy and haven’t had time to think about major sales periods. That’s fine; we are here to consult and help you ace your success this year.
Attention Experts is a data-driven social media marketing agency specialising in social media management, social media advertising, content creation, social media consulting services, and email marketing optimisation. We create and manage social media campaigns tailored to your business’s specific needs.
If you are interested in integrating your social media and email marketing to maximise your marketing outcomes, take advantage of our FREE 30-minute consultation session and book NOW.