2023 Social Media Trends Report
As we enter Q4 and begin to think about social media strategy for 2023, it is important to take note of the significant shift we have seen in social media consumption over the last six months. The continued success of TikTok and the rising popularity of BeReal can teach us a lot about what users want when they log into social platforms — and how brands can meet them where they are.
In addition, a looming recession and reduced consumer spending are having big impacts on how brands should approach their social media strategy. Here, we have rounded up the top trends we are seeing for social media in 2023, along with tips for turning these trends into an actionable plan:
Increase Reach and Engagement With Authenticity
Long gone are the days of perfectly curated feeds and highly produced content. Now more than ever, social media users are looking for authenticity and transparency from the brands they follow.
On TikTok, users aren’t logging in to “check” the platform like they do with other channels - they scroll to be entertained. And, since the TikTok algorithm prioritizes videos that the community brings to the surface (rather than solely showing you content from the people you follow), it’s imperative that brands create content that provides value, whether that’s entertainment or education.
When crafting your content strategy, think of ways you can contribute value that is uniquely yours in a way that is authentic. From how-to videos, to telling the story of your brand, to behind-the-scenes product development, don’t be afraid to show your face and talk to your social communities as if every one of your followers is your BFF.
One last thing - we’d be remiss not to at least mention the continued emphasis on video content across all social channels. Sure, Instagram tried to “walk back” their video-first strategy, but a quick glance at your analytics will show that video gets significantly more reach on the platform (in 2022, our clients are seeing ~75% of reach coming from Reels). If you haven’t already, now is certainly the time to embrace video.
Continue to Work With Creators, But Follow Their Lead
Influencer marketing was a $13 billion industry in 2021, and estimates show that it could reach as much as $84.89 billion by 2028. Influencers are here to stay, but it’s imperative that brands evolve their strategies. The best resource for doing so? We think it’s the influencers themselves. They have successfully built a community of engaged followers and should have a seat at the table when it comes to planning campaigns for your brand. A few other important things to note:
Influencers are a critical part of affiliate programs, and shoppable tools across social media platforms make this seamless for brands.
Any creator program you launch in 2023 and beyond should have an emphasis on diversity and representation.
As big brands look to reduce discretionary spending in response to an impending recession, they are cutting their budgets for creator partnerships. This will allow smaller businesses the opportunity to work with creators with less competition.
When considering influencer programs, think of how to incorporate long-term partnerships with creators, rather than one-off posts. Influencers can be the biggest champion for your brand and will help drive customers all the way through the sales funnel if given the appropriate time and resources.
Don’t be afraid to work with nano and micro-influencers (those with <100K followers).
Approach Instagram and TikTok with a Search Mentality
Google’s own research shows that many people (including nearly 40% of Gen Z!) prefer TikTok and Instagram for search over Google Search and Maps. This is huge - especially for brands looking to increase awareness, or for small, local businesses that are aiming for discovery.
So what does this mean? It’s time to up your SEO game on Instagram and TikTok and optimize your content, captions, and hashtags for search. Use keywords relevant to your niche in your bio, in your captions and hashtags, and in any text you feature on-screen and in your VO. Be sure to use geotags on your posts and make sure your location is accessible, and use alt text (or alt descriptions) on all creative assets.
And, look for Google to make changes to its apps in order to stay relevant, especially among Gen Zers. We should note, however, that search engines and television are still the top resources for discovery among a general audience, so don’t completely abandon Google just yet.
Focus on Connecting With Existing Customers and Reward Their Loyalty
As we head into 2023, an unfortunate reality is that inflation will persist, and marketers cannot ignore the impact inflation will continue to have on consumer spending. A recent survey conducted by Morning Consult found that two-thirds of respondents have intentionally taken steps in the last month to save money because of price jumps. Many consumers are cutting back on discretionary dining and seeking cheaper options on everyday essentials like gas and groceries. Consumers are also spending more time researching products prior to purchasing, and the convenience of online shopping provides many more opportunities for comparison.
The good news? Connecting with customers, especially via online platforms, can help drive brand loyalty, and research shows that having a personal connection with a brand is equally important, if not more, than financial incentive in influencing where people shop.
Brand loyalty is about more than just repeat shopping - it is based on reciprocity, and shoppers feeling that they are valued by a brand. It is also about values alignment, and what a brand stands for is an important factor. Online platforms, and especially social media, are great places to connect with customers. Think about how to message your mission and values using social media, and reward your most engaged followers - whether it is giving them first access to new products or exclusive discounts or promo codes.
Here’s an example we love: To launch a new flavor, popular beverage brand Olipop sent an announcement via an SMS to existing customers. The result? $30,000 of revenue in just 15 minutes.
On a final note, it is important to remind you that social media cannot stand alone in driving results for your brand. The tactics included here are designed to help improve social media performance but need to be part of a larger, more integrated strategy heading into 2023.
Want to chat about how you can build a winning strategy for 2023? Click here to book a free consultation with our team.