4 Key Social Media Trends to Watch in 2020
Predicting the future of social media is always fun. The sector is changing almost daily, with new tools and utilities being rolled out, adding more ways to connect, track and maximize your online marketing performance.
So here are some trend predictions for social media marketing in 2020, based on the experiences in 2019 (and beyond) and where things look to be headed as we begin the next decade.
1. Influencer Marketing Will Continue to Grow
Research shows that 59% of marketers plan on increasing their influencer budget in 2020.
We know that consumers are growing increasingly wary of ads in their feeds, and more than ever before, they’re now seeking reviews from people they trust when making purchasing decisions. These people can be friends and family, but the circle of trust has now grown to people they follow on social media, ranging from celebrities to niche artists and experts in specific fields.
Social media has always been great for SMBs and startups because it allows small brands with little to no budget to compete with larger brands on the same stage. Many SMBs don’t have the budgets to go after the “named” influencers, so we see a larger opportunity for the growth of micro-influencers in the new year.
2. Shopping on Social Media
This is a trend that began this year and I predict will continue to grow. Increasingly, you no longer need to leave a certain site or platform in order to make a purchase or a product you’ve found.
Now, with just a few clicks, you can go from seeing something you like while scrolling Instagram to sharing your credit card information and making a purchase right then and there. Giving consumers this type of ease and speed can cut your sales funnel almost in half.
To believe we’re going to see more brands shift in this direction, and while currently it’s mainly being used by larger, well-established companies, 2020 will give smaller brands, and hopefully even startups, access to such tools.
3. Stories Will Become Marketers Darlings
For a while, Stories were exclusive to Snapchat, but then Instagram and Facebook Stories came out, and now even YouTube has its own stories format.
Stories can provide viewers with more authentic insight, as the videos are often created on the spot. And there’s a huge range of opportunities in the Stories format. Since Stories content disappears rather quickly, this is the perfect time for marketers to capitalize on the fear of missing out (FOMO) and to offer flash sales and deals that only loyal users will learn to look for.
That can then bring in new users looking to take advantage of “insider” specials, which is a way to skip taking out a sales ad, saving brands cash. Stories can also give those that use them away to instantly grow engagement – you can add polls to your Stories, or ask questions that can be answered with a simple click.
4. Improved Customer Service
This is really a second part for chatbots. We know that every day, the time a consumer will allow from when they contact a brand to when they expect an answer is shortening. We know that having a live 24/7 customer service team for every single company isn’t realistic. Utilizing chatbot technology, in combination with your live staff, enables for this type of round the clock coverage.
Of course, bots can’t answer every single question, nor do they allow the personalization of talking to an actual human – but a lot of time can be saved for the customer service workers by handing over the common questions, changes to addresses and passwords to the chatbots.
Chatbots haven’t caught on in a major way as yet, but they look set to become more prominent in 2020, with potential cost savings and improvements potentially leading to a larger shift.
Hopefully, these notes will help you prepare your strategic approach.