2023 Social Media Trends: A Comprehensive Breakdown for Businesses
The landscape of social media is a vast and ever-evolving place, constantly abuzz with a plethora of choices when it comes to platforms. But among these hundreds of options found in your App Store or Google Play, are there any set to revolutionize the marketing field this year?
In an effort to provide clarity and valuable data, MKTG Plan conducted a social media trends survey. Over a thousand social media marketers gave their insights on the platforms they intend to utilize in 2023. Listen in, and discover these industry trends with MKTG Plan.
Social Media Trends Taking the Lead in 2023
In 2023, the torchbearers of social media trends are short-form videos and live streaming. Short-form videos topped the chart as the medium of choice for marketers, delivering the highest ROI. This doesn’t come as unexpected news. Platforms like TikTok and Instagram are soaring in traction with their offerings that empower creators to mold their content with remarkable special effects and diversify their reach via various channels.
Understanding and implementing social media trends swiftly places you at a vantage point, allowing you to identify effective tactics ahead of competitors who may be more apprehensive and slow to adapt.
MKTG Plan presents a compilation of key platforms and features that have experienced impressive growth, both in usage and user base, for you to keep an eye on.
Social Media Platforms to Pay Attention to in 2023
Significant shifts were observed in the usage of social media platforms among marketers in the U.S. between 2021 to 2022. Key players that have seen increased usage include Instagram (+35% YoY), TikTok (+15% YoY), and Facebook (+12% YoY).
Instagram is projected to experience the largest growth spurt in 2023 according to marketers.They assert it has the most precise algorithm and offers unparalleled potential for audience expansion for brands. Forecasted first-time user growth is also notable, with 36% of non-Instagram users among social media marketers planning to test the waters in 2023.
The sudden rise of investments in Instagram aligns with social selling trends, as marketers state the app offers optimal ROI for direct product selling. Consumers also agree that it provides the most enjoyable in-app shopping experience.
Short-form video, the trend of the moment, commands the highest ROI. It hence comes as no surprise that TikTok, which caters to short-form video content, has seen consistent user increase YoY. Marketers believe that TikTok could be the next major platform for audience growth in 2023.
It is also a prime platform for Gen Z engagement, with 62% of the generation using TikTok and spending a bulk of their screen time on it, as revealed by our consumer trends survey.
Data indicates a significant surge in Facebook usage as we moved through 2022 making it one to watch in 2023. This is particularly relevant with the top trend for 2023 focusing on investment in social media communities, an area where Facebook truly shines.
Live Audio Platforms
Live audio chat rooms are gaining momentum, with a whopping 23% of marketers planning to use them for the first time this year. Facebook Live Audio is the most popular choice that marketers are investing in.
This trend seems intuitive when factoring in that 80% of Gen Z, who increasingly have more spending power, enjoy audio content because it allows them to express their individuality and explore different facets of their personalities.
New Social Media Platforms to Watch
In the dynamic world of social media, new platforms are constantly on the rise, bringing a fresh wave of ideas and possibilities for users and marketers alike. Below are some blossoming platforms that may be worth your attention.
Threads, launched by Meta in July 2023, is the latest addition to the social media family. It has seen phenomenal growth thanks to its integration with Instagram, boasting 100 million active users within its first ten days.
Lemon8, a platform owned by ByteDance (the parent company of TikTok), originally debuted in Japan in 2020 before making its way to the U.S. and UK markets in February 2023. It’s swiftly gaining favor thanks to its combined Pinterest and Instagram-like functions.
Substack is a transformative resource that enables writers, journalists, and content producers to publish and monetize subscription-based newsletters. It provides an alternative revenue stream by directly connecting creators with their subscribers.
In contrast to the superficiality seen in most social media, BeReal provides a platform for authenticity. It prompts users at a random time each day to share a genuine snapshot of their current moment, resulting in more candid content.
Event planning is made effortless with Partiful. This social media platform streamlines hosting events and communicating with guests.
Primarily used to stream video games and eSports, Twitch allows users to watch and interact with streamers and audience members in real-time. Its offerings extend to subscriptions, donations, and various streaming tools to enhance user experience.
Social Media Platforms on the Decline
The data suggests that Twitter saw the steepest YoY usage drop (-17%). Twitch also experienced a decrease in usage (-30% YoY). Platforms like Clubhouse and Twitter Spaces, that initially gained popularity at the onset of the pandemic, have since slowed in growth and usage.
Investing in the Right Social Media Platforms
Marketers look at potential for lead generation, audience reach, and website traffic when selecting which social media platforms to invest in.
To Follow or Not to Follow 2023 Social Media Trends?
Keeping abreast of marketing trends and tailoring them to fit your target audience can pave the way to crafting a remarkable social media strategy that amplifies brand awareness and highlights your brand’s creativity. While every trend might not align with your ultimate goals, venturing into new social media landscapes without relevant data might be a risky move.
Note: This post was originally published in July 2019 and was updated for comprehensiveness.
The social media terrain continues to undergo radical shifts each year, challenging marketers to keep up with evolving trends. From our survey, we uncovered that Instagram, TikTok, and Facebook are the social media platforms that marketers intend to invest the most in for 2023. The rise of live audio platforms is another significant trend to take note of, with Facebook Live Audio being the most preferred platform.
These trends demonstrate the increasing significance of diversification in social media marketing strategies. It is recommended that businesses tap into these new consumer behaviors and preferences to maximize engagement and widen their reach.
On the flip side, platforms like Twitter, Twitch, Clubhouse, and Twitter Spaces are currently on a decline. This does not, however, construe that they are redundant. Instead, there are opportunities to explore and harness their unique attributes to enhance your social media strategy.
New social media platforms like Threads, Lemon8, Substack, BeReal, Partiful, and even Twitch, present exciting prospects for businesses and marketers. Though these are still in their nascent stages, monitoring their growth and evolution can provide valuable insights into upcoming trends and audience preferences.
The Relevance of Social Trends for Businesses
Staying abreast of social media trends is not simply about chasing the latest fad. Instead, it is about being responsive to evolving consumer needs, preferences, and behaviors. Being in tune with these shifts can provide businesses with a competitive edge, enhance their visibility, and boost their engagement levels.
Moreover, these insights enable your business to forecast and anticipate future shifts, allowing you to adapt your strategies for optimal relevance. It is essential to remember that not all trends may align with your business objectives. Therefore, leveraging social media trends wisely should serve your larger strategy without detracting you from your business aim.
To summarize, adaptiveness, agility, and astuteness in your social media marketing approach are crucial to staying relevant and competitive in an ever-changing digital environment. As we step into 2023, the key is to respect diversity- in consumer preferences, social media platforms, and overall strategy.
Partner with MKTG Plan for Dynamic Marketing Strategies
At MKTG Plan, our foresight and strategic planning ensure that your social media marketing strategies are future-ready. We specialize in creating engaging and adaptive content, website design, SEO, and comprehensive digital marketing solutions.
Our cutting-edge website designs are tailored to appeal to your target audience and enhance your brand visibility. In addition, our SEO strategies ensure that your content ranks higher in search results and reaches a wider audience.
Trust MKTG Plan to guide you through the dynamic landscape of social media trends in 2023. Let’s collaborate to create tailored, dynamic, and effective social media strategies to propel your business to unprecedented heights.
Stay Agile, Stay Relevant – with MKTG Plan
It’s indeed a task to keep up with the ever-evolving digital marketing landscape. At MKTG Plan, we believe that staying equipped with the latest insights equips us to serve you better. The key is to stay agile, responsive, and strategic – values deeply inscribed in our mission at MKTG Plan.
Note: This post was originally published in July 2019 and has been updated for comprehensiveness.