5 Reasons Brands Need to Rethink Their Social Media Strategy for 2020
Since the creation of Facebook in 2004, social media has grown to over 3.25 billion users across the globe. However, in the United States, this past year marks the first year since the creation of social media that we’ve seen stagnant growth in user adoption. For brands that rely on social media marketing to reach their customers, now may be a good time to take a step back and reassess your approach to social media.
For the past 15 years, brands have been perfecting their social media strategy, and while some brands like Nike, Domino’s, and Coca-Cola have perfected the art of social media marketing, other brands are still trying to figure out how Twitter works. Whether or not your brand is a social media pro, social media is an essential part of every marketing strategy.
Social Media Growth Over The Years
What is the fastest growing social media platform? According to Pew Research, the growth in social media users from 2018 – 2019 is mostly unchanged. Although platforms like LinkedIn and Instagram have grown in users over the past year, other platforms like Snapchat, Twitter, and Pinterest have fallen. Leading social platforms, YouTube and Facebook have for the most part stayed the same accounting for 73% and 69% of US adults who have used the platform in the past year, respectively.
Source: Pew Research
Why is social media growth stagnant? Many people attribute it to concerns about fake news and privacy. According to Malwarebytes Labs, 95% of people distrust social media when it comes to protecting their privacy. As social media platforms work to gain back the trust of their users, brands should take this time to rethink how they approach social media marketing.
5 Reasons to Rethink Social Media Marketing
1. Social Media Platforms Attract Different Demographics
Today there are 7 main social media platforms; Facebook, YouTube, Instagram, LinkedIn, Snapchat, Twitter, and Pinterest. And each attracts different demographics of users. Gone are the days of trying to reach your audience on every platform, brands need to focus on the platforms their target audiences are using.
Snapchat is almost entirely made up of users under the age of 34 at 75%.
Pinterest has 25% more women users than men.
LinkedIn is more popular with people who have higher education and income, only 9% of people who use LinkedIn have a High School Diploma or less.
Facebook is the only platform to appeal widely to the same amount of users under the age of 65.
Instead of trying to reach consumers across every platform, focus on the platforms your target audience is on. This can help stretch your budget further and focus your efforts on the right audience.
2. Visual Content is More Important Than Ever
With the launch of Instagram shopping across the entire platform earlier this year, visual content has become more valuable than ever. You can literally put a price tag on your photos now. Not only is it important for brands to have visual content but it’s important for you to have high-quality visual content. People can take high-quality photos and videos on their phones these days, there’s no reason why a brand shouldn’t either.
People want to like and share content that is visually pleasing and according to Animoto, videos are consumers favorite type of social media content. In fact, 54% of consumers want to see more video content from brands. If your brand is not yet integrating video into their marketing strategy, you could be losing out on valuable customer engagement.
3. Influencer Marketing is Growing
As consumer trust in social media privacy is decreasing, influencer marketing is increasing. Where social media ads fall short, influencer marketing is succeeding. Today’s highly targeted ads remind people that their personal information is not safe. We all know that creepy feeling when you talk about a product and then see an ad for it the next day… before you’ve even started an online search.
However, when an influencer shares a brand or product with their fans, it doesn’t feel like an ad. It feels like a personal recommendation from a friend or family member. In fact, 22% of 18-34 year olds have made a large purchase after seeing an influencer recommendation online. Which is why it comes as no surprise that 75% of marketers plan to increase their spend on influencer marketing.
4. People Trust Search Engines More Than They Trust Social Media
Remember that stat mentioned earlier: 95% of people distrust social media? Well, it turns out consumer trust in search engines is much higher. In fact, only 34% of people distrust search engines. With features like Google Posts and Follow, brands could be expanding their social media strategy to Google. Google’s wider reach and increased trust with consumers make it the perfect place to reach to more consumers, even ones who aren’t necessarily searching for them.
5. Consumers Want Local Social Media
As more and more customers reach out to brands on social media for information, it’s becoming clear that national social media strategies are not designed to retain local customers. It’s not easy to comment on or promote in-store promotions for location-specific customer service issues if you only have one social account for 100s of locations.
Local brand social media pages give brands the opportunity to engage with customers on a more personal level. Instagram’s recent switch to location pages makes it easier for brands to engage with their local audience and drive more in-store traffic through on-page CTA buttons like driving directions.
Social media is changing and although we can’t predict the future, we do know that marketers need to be constantly adapting. The recent plateau in the number of social media users is an indication that brands should be rethinking their social media strategy. Instead of chasing followers or likes, brands should take this opportunity to come up for air and asses their current strategy. If you’re a multi-location business and would like to learn more about the effectiveness of your social media strategy request a free brand audit today.