I recently hosted a webinar with IPSE about social media for businesses and what to look out for in 2024. You can watch it here:
Where are we right now in social media?
- Global Engagement: 61.4% of the global population now use social media. This is for a multitude of purposes: marketing, messaging, entertainment, and news dissemination, to name a few.
- Daily Usage: On average, social media users spend 2 hours and 24 minutes each day on these platforms.
- Platform Diversity: The average user is active on approximately 6.7 different social media platforms. This number includes widely used platforms like WhatsApp, Facebook Messenger, and YouTube. Interestingly, despite the introduction of new platforms like Threads in July last year, this figure has remained relatively stable.
The Go-To Resource for Social Media Data:
When it comes to staying on top of online trends and social media data – be it country-specific, platform-centric, or online video usage – DataReportal.com is an invaluable resource. The website consolidates data from various social media platforms and key research organisations, providing updates quarterly.
User Behaviours
When working in social media, understanding user behaviour is crucial for anyone looking to make an impact. Let’s dive into some key user behaviours observed over the past year and their implications for businesses and content creators.
Social Media as a Search Tool
- Social Search on the Rise: Particularly among younger generations, social search is increasingly overtaking traditional search engines. This means that the ultimate goal in this industry is to be discoverable via social media. It’s essential to consider whether your content and social media profiles are optimised to be found during these social searches.
- Content for Discovery: Ensure your content supports the early stages of the marketing funnel. For instance, if your target audience searches for holidays, fashion, or specific services, your social media content should cater to these interests.
- Integration of Social and Search: Social media results are now appearing in Google searches, and collaborations like that between TikTok and Google show that search results on social platforms are becoming more prevalent.
Social Media as a News Source
- Rise in Social News Consumption: More people are turning to social media for their daily news, moving away from traditional sources like radio or TV. This trend highlights the need for credibility and the challenges posed by misinformation.
- Implications for Content: If your audience is looking for news on social platforms, it’s crucial to adapt your content to include timely and credible information.
Changes in Engagement Patterns
- Shift in Commenting: Public commenting is declining, with more conversations happening in private spaces like WhatsApp groups and behind the scenes in the DMs of platforms like Facebook and Instagram. This shift means that meaningful, deeper relationships are being formed in private rather than in the public domain.
- Impact on Reach and Engagement: While you might notice fewer public comments on your content, understand that engagement is not disappearing – it’s just taking a different form.
Content
As we reflect on the past 12 months and look forward to what’s next in social media, one thing becomes increasingly clear: content trends are constantly changing, yet some patterns distinctly stand out.
Short-Form Video
The rise of TikTok has popularised short-form video content, a trend that platforms like Instagram (with Reels) and Facebook have quickly adopted. A significant aspect of video content, particularly short-form, is its ability to engage users while keeping them on the platform. This trend is crucial for content creators to consider – creating captivating, stop-in-your-track content that holds the audience’s attention on the platform.
Audio Content
Alongside the video, audio content is gaining prominence. Platforms like Twitter (now rebranded as “X”) are increasingly incorporating audio features, such as voice notes in direct messages and audio-only rooms (similar to Clubhouse). Audio content offers accessibility and a break from the on-camera presence. It’s an excellent option for those looking for a different medium to engage their audience.
Should we be focusing on trends?
While trends are important to recognise, their relevance to your business, brand, product, or service, and your audience, is more important. A valuable resource for keeping up with trends is a Google Doc provided by the social media management tool Hootsuite Orca. Updated weekly, this document offers insights into current trends in audio for Instagram and TikTok. It not only lists the latest trends but also provides examples of how to utilise them effectively. The key to successful social media content lies in balancing evergreen, ‘business as usual’ content with real-time, trendy material. This Google Doc can be a go-to resource for staying current and planning your content accordingly.
Artificial Intelligence (AI)
When discussing social media and its future, it’s impossible to overlook the obvious role of Artificial Intelligence (AI). AI’s integration into social media and content creation has transitioned from a novelty to almost a necessity in just a short span. Just last year, tools like Chat GPT (Generative Pre-trained Transformer) were emerging, and now, they’ve become likened to a daily colleague for many, including myself. Whether working from home or in an office, AI has become a go-to for conversation and query resolution.
Social media platforms are increasingly incorporating AI to curate content. This shift is evident in the prevalence of “For You” feeds, which are tailored to individual preferences, as seen on platforms like Twitter (now X), Instagram, Threads, and LinkedIn. LinkedIn’s premium account, for instance, offers AI assistance for writing profiles, and job descriptions, and creating newsletters.
AI’s use extends beyond just social media platforms. There are many tools that are revolutionising how we create content, especially in generating images and other creative assets. Understanding and leveraging AI tools for their advantages is becoming increasingly important. This includes learning to use these tools effectively while avoiding pitfalls like creating content that is obviously AI-generated.
I hosted a webinar last year summarising how various platforms are integrating AI. The insights from this session have been compiled into a blog, which is a valuable resource for understanding AI’s current and future role in social media.
Monetisation
Monetisation in social media seems to be on everyone’s lips right now. I cannot discuss these developments without mentioning Elon Musk’s influence on X.
Twitter’s (X’s) Transformation:
- Elon Musk’s Impact: Since acquiring Twitter in October 2022, Elon Musk has introduced significant changes. One notable shift is the platform’s evolving identity, with recent discussions labelling it as a “video-first” platform. This is an interesting development so it is one to keep our eye on.
- Premium Subscriptions: A key development under Musk’s leadership is the introduction of premium subscriptions, offering enhanced features for paid accounts. These changes have led to different tiers for business and private users, each with unique features and restrictions for free accounts.
If you’re still using a free account on these platforms, it’s advisable to check your settings. Some features might have been altered or removed, and you may need to adjust your preferences accordingly.
The trend of premium subscriptions isn’t confined to Twitter (X). Platforms like Meta (Facebook), Snapchat, and YouTube are also exploring similar models. These subscriptions might offer options to opt out of seeing ads in your feed.
This movement towards monetisation is not solely for profit. It’s also a response to changing data protection regulations, like the limitations on cookies and third-party data access, and online safety laws. These factors restrict platforms’ ability to sell advertising based on user data, necessitating alternative revenue streams.
As these platforms evolve, users will start to see varying levels of access and features based on their subscription choices. This development in monetisation strategies will significantly impact how users interact with these platforms and consume content.
New Platforms
A notable addition to social media platforms in the last six months is Meta’s “Threads.” This platform is designed to easily integrate with Instagram, making it easy for users to create a Threads account.
As of October, Threads had nearly 100 million monthly active users. Zuckerberg expressed optimism about the platform’s growth and its potential to host billion-person public conversations. Threads has been progressively adding new features, such as enhanced content search capabilities. The platform was also expanded to the European Union in December, although some features like DNS are still pending.
While there were initial speculations about Threads being a replacement for Twitter, the user shifts haven’t been as significant as expected. Threads is seen more as an additional platform rather than a direct substitute. Currently, Threads does not support APIs or scheduling, but it has potential, and I think we should keep an eye on how it evolves. While some users are actively engaging in it for business conversations, others are still in the observation phase.
Social Media in 2024
As we look ahead to 2024, we can’t forget that social media continues to be shaped by global events and societal changes. COVID-19, ongoing conflicts, economic challenges, and key elections are all factors that will influence how we approach social media this year.
The need for empathy and awareness in social media content is more important than ever. Understanding the context in which your messages are received is crucial in a world still grappling with the effects of the COVID-19 pandemic and other significant global issues.
Ongoing conflicts in regions like Israel, Gaza, Russia, and Ukraine, and the persisting cost of living crisis, have wide-reaching impacts. These situations affect not just the affected regions but also have global ramifications, influencing consumer behaviour and the focus of charitable organisations.
The Influence of Elections on Social Media
This year, 2024, is a year marked by several key elections globally, including in the United States, the United Kingdom, South Africa, India, and Taiwan. These events have a profound impact on social media content and activities, especially for those working in the public sector.
During election periods, there may be restrictions on campaign activities and content sharing, particularly on social media.
Past elections, like the US elections and the Brexit vote, have demonstrated the significant role social media plays in shaping public opinion and election outcomes. Platforms are increasingly held accountable for their influence and are actively planning for these upcoming elections.
When creating and sharing content on social media, it’s vital to be aware of these global events and their potential impact on your audience. If your activities include paid social media, be aware of how these larger events might affect the reach and reception of your campaigns.
Conclusion
As we head into 2024, social media is constantly changing, influenced by global events, technological advancements, and shifting user behaviours. Staying informed and adaptable is key to business growth and engagement. Remember, in social media, the only constant is change, and being prepared for this change is what will set you apart.