Social media marketing will play a crucial role in the effectiveness of marketing campaigns during the next two years after more brands pivoted to connected channels amid the pandemic and the number of users soared to a record high in July, a new study by Econsultancy has found.
The ‘Future of Marketing’ report found that social media is now arguably the de facto outlet for content consumption for people of all ages as it is now embedded into the routines and habits of day-to-day life.
COVID-19 has accelerated this trend as new data shows that 3.96 billion people are now regularly using social media around the world, which is a 10% increase from a year ago.
The sheer scale of this number means that the fear of missing out is strong for companies of all sizes.
It is now easier than ever before to reach and engage with a wide audience regularly using content on social sites.
The social media boom, something that started more than 10 years ago with the rise of Facebook and Twitter, is set to continue during the rest of 2020 and into 2021.
Econsultancy found that two-thirds of marketers believe that social media will become intrinsically linked to the quality and effectiveness of marketing strategies and campaigns during the next two years.
Econsultancy also went into detail about a range of trends that it expects to see in social media marketing during the final five months of the year.
It noted that while organic social and content continues to take up greater shares of marketing budgets, ad campaigns have slowed since the start of the year, which is not wholly surprising considering the impact of the pandemic.
The lockdown also had an effect on influencer partnerships, something that could lead to a re-evaluation of relationships over the coming months.
UK social media users are still very much engaging with influencers regularly.
Fitness coach Joe Wicks was one of the most prominent content creators when stay-at-home measures were in place, but marketers are now taking a step back to consider the best way to use influencers moving forward.
Econsultancy noted that brands have been focusing on publishing ‘how-to’ style content recently as this allows them to provide vital information covering a range of topics from cooking to exercising at home.
Brands will also attempt to capitalise on the continued growth of TikTok in late 2020.
“Consumption on platforms such as TikTok and YouTube look set to continue,” Campfire’s CEO Joe Gradwell said.
On advice for marketers, he added: “There’s still time to build your presence across social networks you’re not yet operating on – build your TikTok strategy, begin the podcast series you often talk about.”
The onus will be on brands to experiment with new social media campaigns and management during the second half of the year.
After the disruption during the spring and early summer, brands now have an opportunity to try new things and optimise strategies to best suit the needs of followers.