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In Part 2 of our a three-part, in-depth guide to help social media marketers stay at the cutting edge in 2020, we cover how influencer marketing and social media platforms are becoming more intimate, as well as how the we need to re-evaluate the data we use to measure success
What’s in Part 2?
4. Embracing influencer marketing
The global influencer marketing industry shows no sign of slowing and is estimated to be worth up to $15 billion by 2022, up from roughly $8 billion in 2019. The emphasis is now growing on quality over quantity, as marketers look to build deeper, genuine connections with micro and nano influencers, as opposed to mainstream ‘celebrities’ with millions of followers, with more engaged, ‘niche’ communities.
5. Data gathering
Access to rich and detailed social media data is now freely available to all, whether it’s via a social platform’s native analytics or Google Analytics – and Google Data Studio has made interpreting it even easier, with the ability to create data visualisation, and data storytelling. The challenge is how to use it strategically to improve performance.
6. Rethinking success metrics
Proving the value of your social and influencer marketing efforts can prove tricky and the temptation is to rely on ‘vanity metrics’. And, with the removal of ‘likes’, companies will seek new and creative ways to partner with influencers to prove ROI. How will social media marketers adjust the way they judge success?
7. Focus on privacy and communities
The concept of privacy and community is impacting the way that modern consumers approach social media. Although people are more than happy to engage with brands, they’re also becoming more selective about their interactions. In many ways, social media is going back to its roots and focusing on building authentic communities, within Groups – especially on Facebook and LinkedIn.
According to Facebook itself, around 10% of Groups on the platform are communities that “quickly become the most important part of someone’s experience on Facebook”. Meanwhile, LinkedIn is growing faster than expected. US adult users grew by 8.8% in 2019, up from a previous estimate of just over 7%, according to research firm eMarketer, and this figure will hit 62.1 million in 2020,
8. Social storytelling
Stories – short photo collections or video clips first popularised by Snapchat in 2014 – are one of the fastest growing segments across social media. Creating native Stories is a great place to focus in 2020: they’re highly visible, easy for users to consume and tap into the fact that people find images and video more eye-catching, engaging and shareable – and help to build affinity and trust.
If you missed out on…
12 Habits of Effective Social Media Marketers in 2020 – Part 1, don’t worry, it’s still available! It covers:
- Social selling
12 Habits of Effective Social Media Marketers in 2020 – Part 3, which will concentrate on social content trends:
- Social TV
- AR and playable content