With both the level of activity as well as the impact of social media on the rise, it stands to reason that the way we use it will change over time. This is particularly true for those of us who advertise on social media. Trends come and go – sometimes in the blink of an eye – but some stick around and can make all the difference between our success and failure. Here are 3 trends to keep your eye on in 2018.
The Rise in the Cost of Advertising on Social Media
The attraction of advertising on social media lies in its effectiveness. There is simply no better way right now to reach your target audience – and in such a cost-effective way. While in the past you may have been able to reach a sizeable audience organically, the recent increase in the number of social media advertisers has had a direct impact on social media advertising. You should expect costs to rise as more and more businesses take to social media to gain customers.
The proof is in the statistics:
- 74% increase in social media expenditure in 2017 alone
- 12% increase in the cost of digital ads per year
- 171% rise in the average CPM on Facebook
- 136% rise in the average CPC
The Importance of Promotion through Video
It may or may not surprise you to hear that videos are shared on social media 1,200% more than text and images collectively. That, if nothing else, is proof of the enormous value of video promotion. In fact, a recent study has calculated that by 2019, videos will account for 80% of all customer interaction on the internet and on social media in particular; the reason being that 95% of people retain visual content easier than they do text. If that’s not a good reason to get the cameras rolling, I don’t know what is.
Marketing through Social Media Influencers
Expanding the reach of your brand through social media influencers is not a new trend. It’s been going on for some time and there is little reason to wonder as to its popularity. Studies have found that a whopping 74% of people look to social media networks for help with their retail decisions, while 40% of people today are influenced into buying a product that was promoted on social media by one of their favourite influencers. This kind of marketing, while lucrative for the influencer (how do you think the Kardashians make so much off a single Instagram post?) can be less efficient for your brand, depending on your budget, but still remains a strong trend going into 2018.
Well there you have it – 3 social media marketing trends that you can use to boost your business. The great thing about these 3 – though they aren’t the only trends by a long shot – is that they are doable for start-ups as well as established brands; and if you’re not an established brand, well, they can certainly help you get there.