Hello friends, welcome to our blog Classy Business Women. We have a guest post written by Veronica Steel. She was so kind as to share her Social Media Trends for 2020.
Creating a new cultural business model
There will be more and more pressure on digital and online stores. Brands will have to create new values for consumers urgently. Moreover, they will no longer be attractive and desirable. In the communications industry, it is striking that the billing model at many agencies has declined dramatically in recent months.
Today, more than ever, both agencies and brands need to rethink a sustainable and scalable business model. If not, within a few years, there will be a collapse where agencies will disappear. Only a handful of enormous content and media companies will survive. Hence, If you want your company to survive you have to keep up with Business and Social Media trends.
In-house agencies – a practical solution?
Secondly, one of the latest Social Media Trends is related to in-house agencies and the way they work.
Brands increasingly seek transparency in their advertising costs, greater control of creativity, and increase sales. Therefore, many companies are beginning to create resources internally, creating new ways of working with partners and professionals.
Creating in-house agencies is making more and more sense as there are more young professionals, and there is a talent crisis in the agencies. And the solution many companies have found to retain talent and professionals is to create structures associated with the marketing department.
Internal business often allows for cost control, increases transparency and productivity, but the challenges of implementing in-house agencies are not so simple. Many experts believe that this is just a passing trend because its realization is not easy.
Data segmentation and the use of AI in marketing
It is good to keep in mind that trends do not stop; they create a path to business success. Today, leading digital media platforms and tools have implemented AI into their algorithms on time. In 2020 and shortly, AI will contribute to better data segmentation and ensure that algorithms deliver the best possible content.
AR – a growing reality
AR encourages viral marketing on social networks. Many brands have already used the ability to create filters. This feature interacts with the user and spread their content. In 2020, the primary trend will be to develop projects that allow interaction in a real-time/ event, with the ability to spread messages on digital media. This technology will help consumers make purchasing decisions. Although, e.g. unable to touch a product can measure its dimensions, refine colors and see its application in the real world.
Engagement and reputation for driving sales
The company’s standing in the digital universe is becoming more valuable, not only on its channels but across the digital ecosystem. Feedback from other users is increasingly a deciding factor when buying a product. By 2020, engagement will become more critical than ever before. Brands should also worry about content thinking that will result in a lot of comments. This way, your content will be better qualified by algorithms and presented to more people. Once the comments are positive, it will eventually lead to better sales.
Differentiated content and highly segmented strategy
In theory, everyone knows this, but many companies still publish the same content on different platforms. As more and more new communities emerge, companies will need to produce relevant and diverse content at every micro-moment. We have an announcement of the arrival of Facebook groups, which will be an exciting means of delivering more personalized messages. The second major trend is the consolidation of two universes – podcasts and influencers. In 2019, we saw a massive increase in spending on podcasts around the world. According to statistics, 22% of Americans listen to podcasts every week. And the rise of influencers is not a new piece of information. As many as 80% of brands consider influencer marketing useful. We can confidently predict that in 2020 and beyond, influencers on social networks will grow and play an increasingly important role in building brand awareness.
New platforms and strengthening of micro-moments
Digital marketing is no longer solely for brand building. Today, platforms like Houseparty, Steemit, Caffeine and Lasso are gaining popularity and are already being used as branding platforms in some markets.
TikTok already has over 500 million active users worldwide, and that number is increasing. LinkedIn also gets a different status and becomes an excellent platform for brands. With an audience that varies from platform to platform, there is one question that remains. The challenge now in 2020 is how to manage and build micro-moments for that type of audience?