We’ve briefly covered the new trends in Social Media Marketing in our Digital Marketing Trends 2020 Blog. In this series, we will be talking about how to take advantage of these Social Media Marketing Trends and incorporate them into your strategy.
Vanity metrics are the data that looks good at the surface level, i.e., likes and followers on social media pages; but may not be accurate enough to act upon for future strategies, measuring content performance, etc. Actionable metrics, on the other hand, is the data that you can take decisions on; the ones that actually matter for your brand.
Instagram is also playing around with this idea and has currently removed ‘likes’ from 7 countries.
Vanity Metrics alone are not reliable; since Likes can be bought and Following comes with a price, i.e., ‘Follow Back’. At the same time, engagements such as interactions with your posts (shares, comments, mentions) or actual video views (not post impressions) allow you to see how effective your content performance really is.
Conversion Rate – Indicates how many comments or replies on average, each of your posts have received. (E.g. Conversion Rate = Number of Comments / Number of Posts.)
Amplification Rate – Indicates how many times on an average, each of your post was shared or re-tweeted. (E.g. Amplification Rate = Number of Shares / Number of Posts.)
Applause Rate– Indicates how many likes each of your posts have received on an average. (E.g. Applause Rate = Number of Likes / Number of Posts.)
Economic Value – Shows how much economic value each visit from a social network brings to your site by completing your site goals. (E.g. Economic Value = Per Session Goal Value, which is calculated by Google Analytics when you assign a monetary amount to each completed activity, called a conversion that attributes to the success of your business.)
– The Search Engine Journal
One of the top Social Media Trends for 2020 is Live Streaming, as it allows you to build a connect with your audience and is available across a plethora of platforms, i.e., Facebook, Instagram, YouTube, Periscope, Live.ly and Snapchat among others. An extract from the Livestream blog states the below stats by Forrester:
According to Forrester, users watch live video 10 – 20 times longer than on-demand content, making live streaming a powerful way to deliver interactive content.
The increasing popularity of Live Videos can be attributed to the fact that it is – Informative, Accessible, Human and Up-to-Date.
a. The Purpose: Below is a checklist that will help you narrow down the goal.
b. The Schedule: Announce it way before time, so that your audience is well aware of your broadcast before you go live. If you plan on doing a series schedule it to a specific time, your audience will most likely be expecting you and tune in more as compared to just having random Live Streams.
c.**The Analysis:**Test and analyse to tweak and improvise upon your results and stay on top of the game.
a.Behind the scenes: You can showcase your company culture. For e.g. ‘A day in the life of <designation> at <company name>’. You can stream what went into the making of the product (works on the lines of a use case) or behind the scenes of a Product Launch Event.
b.** Live Streaming Events**: This could include Expos, Conferences and Product Launches or Latest Industry Trends and Company News Announcements.
c. **Q&A Sessions: **You can hold an interactive live training session where you walk your customers step by step and simultaneously allow them time to interact with you. You could talk about new strategies or tools that will help businesses or simply conduct product demonstrations. Give advice => talk about your service/products => ask them questions or vice versa (to get insight on their preferences).
d. **Live Interviews: **There are various ways you can pull this off – you could interview employees to lend a sneak peek into your culture; interview thought leaders to share useful insights into your industry or even your customers to keep them engaged with your brand.
3.** The long and short of it: **Ideally a short live stream would work well for Snapchat, Tik Tok, and Instagram and a long-form video would be well-suited to IGTV, Facebook and YouTube. (We’ll be sharing the technicalities on how to go about your live video streaming on various platforms in our Blog on Videos).
The Snapchat creation, made revolutionary by Facebook and Instagram are a set of images or a video that disappears in 24 hours. The ephemeral nature of stories tends to pull in more users due to their disappearing nature and helps create an ‘in-the-moment’ relationship with your audience. For this reason, Social Media Marketing will increasingly rely on sharing more stories and comparatively less social media posts.
Since their creation in 2016, Instagram Stories have been fast-growing, reaching 500 million daily active users by early 2019. And it doesn’t look like it’s going to stop. In fact, the company is only making it easier to share your stories with more and more people, adding in the option to share all of your Instagram Stories to Facebook automatically, so that your friends and followers can see them as well. –** SproutSocial**
Below are the stats shared that show the rising popularity of Instagram Stories:
**Micro-Content **is comparatively one of the new social media trends that will dominate in 2020. It is essentially a bit sized copy that is ideally used for images or social videos; readable within 10 – 30 seconds. You can use micro-content on Twitter, Snapchat, Facebook and Instagram. The main benefit is that it simplifies large amounts of complex data into bit sized readable pieces. They should be purposeful and visually attention-grabbing. You can use micro-content in themes. For e.g. Mondays for Tips; Tuesdays for Industry News, Wednesday for Blog Series. Where can you use Micro-Content?
One of the latest social media trends are Shoppable Posts; however, this feature is yet to be made available in India and has currently rolled out in 44 countries. The growth in Shoppable Posts has been showing an upward trend due to the convenience it offers users. It is a quick feature on Instagram that allows users to tap on a product image and complete their buying journey from the app itself. The Shoppable Post trend is on the rise as depicted by the stat below:
130 Million Instagram users tap on Shoppable Posts every month.
LinkedIn is a great way to market B2B. LinkedIn is the Social Media for Professionals and LinkedIn Groups are a place to meet like-minded professionals where you can pitch or learn new ideas. Simply put, it acts like a Virtual Conference Room to brainstorm new ideas.** 82%marketers use LinkedIn for professional a purpose; which is why LinkedIn Groups cannot be left out of your marketing strategy.** It has increasingly become content focused and makes for an excellent approach to build a community and increase your network and simultaneously brand reach.
To conclude, it is important to note that a certain percentage of people are swaying away from social media. This can be attributed to lack of trust, fake news, overload, privacy or data concerns, mental health and well-being.
**This calls for making use of Social Media Marketing responsibly –<u> by sharing content with a purpose; not content for the sake of it.</u> **
The goal at the end of it all is ‘To Build a Connection’, ‘To Build a Community’ and ‘To Build an Experience’.
Stay tuned for our next blog covering Design Trends in 2020.