Social media has now become the basic part of the customer’s journey map, and it has significantly changed the way companies interact with customers. Even if there is the risk of having limited amounts for spending on marketing due to economic factors, social media is still one of the most important manifestations for executives.
The reason is clear: as consumers engage in social media platforms, it provides great potential avenues for connection with the potential customer right from the initial purchasing stages down to the recommendatory stages.
Why social media is essential for businesses
1. Brand development
Statistic: According to research 94% business leaders feel that data derived from social media is positive to brand image and brand loyalty.
It is vital to spare time for reputation management, especially when markets experience changes in their dynamics. Social networks are one of the tools to construct and stabilize particular brand reputation. They feed the audiences genuine interactions, which strengthens their commitment to the brand. Businesses developing their accounts in social networks also learn to establish direct communication with customers and create a long-lasting, familiar form of a brand to rely on even in crisis.
2. Enhancing competitive positioning through social media data
Statistic: 92% of business leaders agree that social media insights positively impact competitive positioning.
Social media provides real-time insights into competitor strategies and consumer preferences. By analyzing social media data, businesses can understand competitors’ strengths and weaknesses, gauge content themes, and measure share of voice. Tools like Sprout’s AI-driven social listening can streamline this process, offering actionable insights that help brands stay ahead in the competitive landscape.
3. Creating a customer-centric business strategy
Statistic: 91% of business leaders say social data helps them better understand customers.
Social listening tools offer valuable insights into customer trends and preferences. The brands that use these insights can adjust their strategies based on the changing nature of consumers’ needs. For example, Goally – a technology company targeted at neurodiverse consumers – incorporates social listening into their operations by adjusting their content service and customer relations based on customers’ primary impressions.
Explore some of the most effective social media strategy examples.
4. Supporting better public relations outcomes
Statistic: 91% of business leaders agree that social media insights positively impact their PR function.
The landscape of public relations has shifted with the rise of social media. Brands need to craft compelling narratives and generate media interest proactively. Social media offers a platform for consistent brand storytelling and thought leadership, amplifying PR efforts and enhancing media coverage.
5. Playing a critical role in crisis management
Statistic: 84% of business leaders agree that social media insights positively impact risk management.
Social media crises can occur on any scale, from minor missteps to major incidents. A well-structured social media crisis plan is essential. Monitoring social media enables brands to address issues proactively and manage risks effectively. A social-first approach to crisis management allows businesses to mitigate potential problems before they escalate.
6. Introducing products and services through social commerce
Statistic: 68% of consumers follow brands on social media to stay informed about products and services.
Social media has become a crucial platform for product discovery and promotion. Consumers increasingly look to social media for updates on new products and services. Investing in social commerce strategies allows brands to tap into this trend, positioning themselves where their customers are already engaged.
7. Supporting exceptional customer experiences
Statistic: 88% of leaders say social data and insights are critical for delivering exceptional customer care.
With many consumer interactions occurring digitally, creating standout customer experiences is vital. Brands must actively engage with their audience, leveraging social media to provide proactive and reactive customer care. By combining social listening with optimized engagement workflows, businesses can exceed customer expectations and build lasting loyalty.
Top social media trends in 2024
Staying current with social media trends is essential for maintaining relevance and engaging audiences effectively. Here are some notable trends shaping the social media landscape in 2024:
1. Mascots
Mascots offer a fun and engaging way for brands to participate in social media trends. They provide a lighthearted approach to brand representation and can effectively engage audiences in humorous or nostalgic ways.
Examples:
– Duolingo’s Mascot Convention: A playful take on mascot culture, showcasing how mascots are integrated into social media strategies.
– Vikings Team Stunt: A creative response to fan jokes, highlighting how mascots can enhance brand engagement.
2. Duets/stitches
Duets and stitches allow brands to co-create content with their audience, fostering community and dialogue. This approach encourages user-generated content and participation.
Examples:
– Whole Foods’ Chantilly Cake Response: Engaging with fan reactions and showcasing brand responsiveness.
– Revlon’s Humorous Stitch: Reacting to user-generated content in a playful manner.
3. Influencer/celebrity marketing
Partnering with influencers and celebrities can amplify brand messages, but success depends on finding the right fit between the brand and the influencer.
Examples:
– Michael Cera and CeraVe: A clever campaign leveraging name similarity to generate buzz.
– E.L.F. Judge Beauty: A diverse influencer campaign targeting Gen Z with engaging content.
4. Unhinged marketing
Unhinged marketing embraces unique and unconventional humor, appealing to younger audiences who value creativity and entertainment over traditional sales pitches.
Examples:
– Drumstick’s Niche TikTok Content: Leveraging playful, unexpected content to engage viewers.
– US Open’s Trend Integration: Using current trends to promote events and athletes.
5. CGI Ads
CGI ads provide a visually striking way to capture attention and create memorable marketing moments.
Examples:
– Maybelline’s Realistic CGI: A whimsical yet plausible ad that captures the imagination.
– Spider-Man 2’s Bus Rescue: A masterful CGI stunt that generated buzz and speculation.
6. Short-form content
Short-form content remains crucial, with platforms like TikTok, Instagram Reels, and YouTube Shorts leading the way. These formats cater to shorter attention spans and offer engaging ways to connect with audiences.
Examples:
– TikTok Trends: Leveraging brief, impactful content to drive engagement.
– Instagram Reels and YouTube Shorts: Using concise videos to maintain viewer interest. Generally accepted, 7 AM – 10 AM is considered as best time to post on Instagram.
7. Face of the company
Featuring real employees as brand representatives adds a personal touch, fostering a more genuine connection with the audience.
Examples:
– Kev Kennedy’s Distinctive Persona: Enhancing brand identity through unique individual representation.
– Empire State Building’s Social Media Team: Engaging audiences with recognizable and personable staff.
Conclusion
Social media is a crucial part of the customer journey, reshaping how businesses engage with audiences. Despite budget constraints, it helps connect with customers from awareness to advocacy and is key for brand building, public relations, and product promotion. Staying updated on social media trends is vital for relevance and engagement, enabling businesses to enhance their competitive edge and build lasting relationships.