BlogMaria Karttunen 14.02.2023

Social Media Trend Review 2023

In 2022, there has been a huge stir and incident on social media, most recently Elon Musk’s acquisition of Twitter. The use of social media has also increased on almost every platform: social media reaches almost 80% of Finns aged 15–74 every day.1 Now more than ever, it is worth keeping a close eye on what is happening in the market. Dagmar’s social media experts put together six social media trends for 2023 that marketers should keep an eye on.

1. Social shopping

Sales through social media platforms are growing globally. Nearly 50% of Chinese and 40% of US internet users have already shopped on social media platforms². 

It is now possible to buy products directly from many social media platforms without going to the service provider’s e-commerce platform. The visitor can be transported more easily from inspiration to activation. At the same time, the online store’s purchase pipeline becomes more streamlined, barriers to purchase are lowered and conversion is accelerated.

Social media channels now also offer opportunities for virtual product testing and adaptations using AR, i.e. augmented reality. Purchasing decisions become easier and brand commitment increases.

2. Authenticity &; User Generated Content (UGC)

Content and brands are now required to be authentic and relatable. Brands are expected to make bold statements and values that are transparently followed.

One response to this requirement is “User generated content” (UGC): consumers post branded content they create on social media channels without being a commercial collaboration. Good and bad products and services have been announced before, but now brands have started to utilize this in their own marketing.

Brands can get users to create content for them by, for example, creating social media trends, challenges and competitions, and rewarding them with product samples or discount codes, for example. Visibility in the brand’s own channels can also be a motivator. So it’s a good idea to create your own hashtag and encourage the community to use it. Be careful about authenticity – your audience will notice the difference!

3. Social media as a customer service channel

The importance of social media as a customer service channel is growing. Consumers want quick answers to their questions, so social media is becoming the most important channel for customer service.

Previously, social media vented irritation when there was no response from other service channels. Now there are more and more general questions and feedback on social media3. On the other hand, according to a study by eMarketer, more than a third of those who have had a bad experience are likely to share information about it on social media…

Consumers expect to meet and be able to talk to a brand on social media. For this reason, customer service expertise must be resourced for social media, the necessary workflow models and technological solutions must be built there, and goals and indicators must be defined. Brands need to take a leap in customer service in social media channels.

4. Social media consumption becomes even more fragmented

Traditional social media channels have gained fierce competitors that already reach an audience of millions.

TikTok has evolved from dance videos towards a platform for addictive, inspiring, and diverse videos created by the users themselves. TikTok works as a channel for both organic and paid content. According to the platform’s own data, there are approximately 1.3 million users per month in Finland. The number of users has doubled over the past year, and the target group has expanded from young to older.

Snapchat already has nearly 1.5 million Finnish users every month. The visitor profile emphasizes young people, but the “snap” also reaches those older than them.
 
The new social media platform BeReal started to grow exponentially in summer 2022. In this “polished world of Instagram” challenging channel, photos must be taken with the app’s camera in a two-minute time window – exactly where you are, looking the way you are. Other social media platforms like Instagram and TikTok soon introduced similar features to their channels.

Twitch and Discord continue to grow, especially among young men. Despite the new challengers, the position of Facebook, Instagram and LinkedIn remains strong. Marketers need to think about which channels create value for their customers, what purpose the channels are aimed at, and what kind of content consumers expect there.

5. The importance of audio is growing

The pandemic created a breeding ground for social audio, as people spent a lot of time in front of screens and needed an alternative way to connect. The need was met by, among other things, the social audio platform Clubhouse.

On TikTok, audio is an essential factor. Content must include sound, including advertisements. Artists even make TikTok-friendly songs or tee up their music on the platform before the actual release. Audio creates countless opportunities for brands, so you should think carefully about the soundscape and the use of audio also on social media platforms!

The Most Used Digital Music Streaming Platforms in Finland 2022 Image source: https://www.teosto.fi/pohjoismainen-tutkimus-91-prosenttia-suomalaisista-kuuntelee-musiikkia-digitaalisista-suoratoistoalustoista-instagram-ja-tiktok-nousussa/

6. Short video content

According to a CISCO report, up to 82% of global internet traffic is video. TikTok has contributed to changing the way we consume video content. Other platforms have also responded to the change with their video formats, such as Instagram Reels and YouTube Shorts.

Short video content responds to the need for entertaining and informative content quickly as our ability to concentrate continues to decline. Generation Z’s ability to concentrate is eight seconds on average, which is still a few seconds shorter than millennials, who can concentrate for an average of about 12 seconds.

Videos respond to the growing demands for authenticity – they can sense the content creator’s personality or, for example, the atmosphere of a restaurant better than just a picture, which increases reliability.

Sources:

^{1Mind Consumer January-Jun 2022 Consumption, leisure and media 2}
Insider Intelligence – Social Commerce Forecast 2022 ^{3https://www.mckinsey.com/capabilities/operations/our-insights/social-media-as-a-service-differentiator-how-to-win}