The importance of social media advertising is growing day by day. It has become an important and influential virtual space where people connect with each other. Around 59%, which is more than half of the world’s population, are social media users. Subsequently, it has become the right space for marketing your products or service digitally.
The major advantage of using social media for business is that it allows them to reach a wider audience with a small budget. A proper social media management strategy has become integral for businesses now, regardless of the size or the industry.
When it comes to social media platforms, Facebook is second to none in terms of followers. Two billion people use Facebook every month which means more than 36% of the world’s population are Facebook users. If your Facebook marketing strategy is weak, you are missing out on a great opportunity to grow your business. Furthermore, our social media marketing strategy should be relevant, updated, and measured closely to reap its various benefits.
Staying updated on the latest trends is key to building a winning social media strategy. We have collated a list of Facebook trends that are expected to have an impact in 2023.
Facebook Live For Live Streaming
In the post-pandemic world, live streaming has become much more popular. Be it product demonstrations, events, or other consumer engagement initiatives, businesses are increasingly using live streaming platforms these days. It is expected to continue in the next year too as more businesses recognize live streaming as a powerful marketing channel. Facebook Live is a feature that allows users to do live streaming to the social media platform. Users can react, comment, or share while watching the live stream. It offers an excellent opportunity for marketers to share various information regarding the business and get an instant boost in real-time engagement rate. Since it doesn’t need much investment, it is ideal for marketers working with a shoestring budget.
Social Commerce To Grow
The world was largely disrupted by the Covid-19 pandemic. Today’s consumers, especially Millennials and Gen Z shoppers, prefer to shop virtually than physically going to the shops. They are more likely to shop from social media platforms so that they do not have to leave the app to place an order. It is expected that Facebook and Instagram will dominate the social media shopping space in the coming years. The platforms are gearing up with advanced features to make shopping easier for users.
Chatbots For Customer Service
Social media platforms were initially used by businesses for marketing or promoting products or services. Now it has started to evolve as a customer service platform as well. Customers want instant responses to their concerns, and they are looking for personal attention from the brand. They can ask questions, share experiences, post complaints, etc. regarding your brand on social media platforms. By providing quick responses to customers on social media, brands can meet customer expectations and stay authentic. In the coming years, automating customer interactions will become more commonplace. Though businesses have been already using chatbots for customer service, there will be steps taken to make the interactions simpler and personal.
Improved Ad Spends
A survey by SurveyMonkey points out that nearly half of social media users bought a product after social media ads. Ads placed on Facebook and other social media platforms report higher ROI when compared with traditional advertising channels. The ad spending on Facebook is expected to increase further in 2023 with the decline in organic reach that businesses used to get before. The total expenditure on digital advertisements is expected to reach $681.39 billion in 2023 and a major share of it will be utilized on social media platforms. And Facebook ads are popular because around 74% of the social ads placed on the platform are proven to be effective.
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There is no doubt that social media platforms are advantageous for marketers. However, it needs proper strategy, well-planned execution, and close monitoring to reap the benefits. As one of the top Facebook advertising agencies, Fresh Content Society can assist you in making your brand a digital success.
Get in touch with our team today for a quick consultation.