Social Media Trends That Impact Digital Advertising

The number of social media users in Australia is currently 18. 58 million. In 2022, it is estimated that there will be around 19.27 million social network users in Australia. In such a scenario it is impossible for marketers to not include social media advertising in their marketing mix.

Digital marketing which has become synonymous with social media today, faces a continuous challenge at every bend. With social media in constant flux, what worked few months ago might not work for you today.

Changing habits and evolving platforms and new platforms coming into fray every day are influencing how people are reacting to and using social media. This dynamic digital environment is also influencing digital advertising and how well digital marketers are able to reach their audience.

By keeping a keen eye on the changing social media trends, you can stay ahead of the curve. This will also ensure that you are able to come with up-to-date strategies, have the right tools at your disposal, and the required skill to make the best of social media.

With this in mind, we have charted some of the current social media trends of this year that digital marketers need to be aware of.

Rise in Investment in Social Media Advertising

Brand will increase their spending on social media, particularly in the retail industry. As such, you should not ignore the power of paid advertisements across platforms because they have a large number of potential customers to reach out to. Platforms like Facebook are making it easier for retailers and advertisers to innovate more and more each and this activity will only increase over time.

Rise of Social Media Influencers and Word-of-Mouth Marketing

Brands have traditionally relied on celebrities and characters to sell their products. As the need to carve out more authentic information about the brand increased among potential customer, advertisers turned to social influencers. However, over time, these influencers were struggling to maintain authenticity and currently have become increasingly expensive. This resulted in advertisers to turn to micro-influencers and social media personalities who have high influence over their specific niches. Influencer marketing is already a multi-billion-dollar business with many 59% of brands already willing to increase their budget in this segment.

Speedy Growth of Online Video Advertising

Online video advertising will witness fast growth and see it account for 25 per cent of the total internet advertising market by 2023. The mantra among digital marketers in 2020 will be “if it moves, use it”. Online video and animation will continue to grow as an integral branding building tool for advertisers as they drive results. In fact, this has been the fastest growing online advertisement category. You can catch more eye balls when you introduce video and animation as a part of your social media advertising campaigns. Globally, it is projected that consumers will spend 84 minutes a day watching online video in 2020, up 25 percent from 67 minutes in 2018. Though much of this will be going to SVOD services, advertising supported platforms like YouTube and social media platforms will remain integral for advertisers.

Voice search Will Bring in New Revenue Streams

Though advertising opportunities seem limited at the moment, extensive adoption of smart speakers will open up new revenue streams over the next five years.

Reach Alone will Not Suffice

Despite the strong growth of internet advertising as a category, the rest of the online advertising market is in decline. Australian online publishers should emphasise their brands, safe environment with a focus on professionally generated content rather than reach alone.

The Spread of Misinformation

You need to be extra careful with what you are spreading on the social network and be mindful of what you are engaging with. The rise of fake news has not only affected the world of politics but also advertising and media industry. Creating a surge in headline only readers, fake news has made it increasingly easy to plaster false information on an image and turned into a viral meme in no time, which is extremely dangerous.

Algorithm changes, new cutting-edge features and a constant stream of updates are common in the digital landscape. It therefore becomes vital for digital advertisers to stay in the know, so that they can take informed decisions in their brand building activities on social media.

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