Businesses need to recognize how this trend can help increase engagement with social media followers. Influencer marketing is evolving Influencer marketing isn’t a new concept either. These are some of the top reasons why brands are partnering with these types of influencers: Research shows that micro influencers have 60% higher engagement rates than traditional celebrity influencers. Brands are taking advantage of paid advertisements It’s 2018, so businesses know they need to have an active presence on social media. Companies that want to take their social media strategies to the next level also pay for advertisements. Facebook alone has more than six million advertisers on its platform. Encourage them to use hashtags and post about your brand on social platforms. When a customer posts about your company on their personal profile, it exposes your brand to all of their followers. If your business starts to regularly share ephemeral content, users will make sure to check back frequently to make sure they aren’t missing out on anything. That’s why brands need to come up with alternative social media marketing methods such as paid ads and micro influencers to increase referral traffic.
Social media is constantly evolving.
It’s no longer just a place for your family and friends to share old and embarrassing photos of you every Thursday.
As a marketer, you need to learn how to properly leverage these platforms to your advantage. Being active on social media is huge, and it’s absolutely necessary for your survival.
But that alone won’t automatically make you successful. You also need to stay up to date with the latest marketing trends and apply them to your business.
Today, marketing and social media go hand in hand. As we near the midway point of 2018, I’ve taken the time to identify the top social trends of the year to date.
I analyzed data from previous years and determined what trends saw a steady incline. Plus, even though the year isn’t over yet, I was able to see which new developments were the most prominent in these early months.
I predict that these trends will continue in the coming year. It’s important for you and your brand to stay on top of things right now.
1. Live video continues to thrive
Live video content made big waves in 2017. In one of my previous blog posts, I explained that you should jump on the live video bandwagon.
It should come as no surprise that this continues to be a popular trend in 2018.
In fact, live video content has become so popular that roughly 95% of brand executives say it will be a crucial part of their 2018 marketing strategy, according to a recent study.
Why?
Consumers love it. Research shows that 80% of audiences prefer watching live video from brands as opposed to reading a blog. And 82% of consumers say they would rather watch live videos than read social media posts.
As a result, the most popular social media channels have implemented live streaming options. Brand marketers are taking advantage of this.
When it comes to live streaming, Facebook leads the way, according to the 2018 state of social media report from Buffer.
In 2017, only 31% of businesses broadcasted live videos to promote their brands. I expect to see a much higher percentage by the end of this year.
Marketers aren’t the only ones taking advantage of live streams. Regular people share live videos to interact with their friends and family on social media.
The increasing popularity of live video means your company needs to get on board with this trend right now. Businesses need to recognize how this trend can help increase engagement with social media followers.
Start going live on all your distribution channels. Respond to user comments in real time.
This will help you maximize your reach and generate new leads for your company.
2. Chatbots are taking over
Internet chatbots have been around for a long time. They go all the way back to the days of AOL instant messenger.
But like everything else, they are evolving. Now chatbots are being integrated with social media platforms.
Businesses are using chatbots to communicate with their customers on social media. This trend is growing at a rapid rate.
In the first year of the new Facebook Messenger platform, we saw the number of chatbots jump from 33,000 to more than 100,000.
The possibilities here are seemingly endless. Take a look at how Pizza Hut uses chatbots to make it easy for customers to order food through social media:
These bots recognize word phrases sent by users. Their automatic responses are based on how they are programmed.
As you can see from this Pizza Hut example, these bots can be used directly to drive more sales and increase revenue streams.
I believe we are going to see more businesses take advantage of these tools by the end of 2018. In fact, a recent survey suggests that roughly 80% of marketing executives have used or plan to use chatbots by 2020.
It’s a winning solution that’s a cost-effective alternative to paying real customer support representatives.
It’s estimated that chatbots are going to save businesses in the healthcare and banking industries a whopping $8 billion per year by the year 2022. That’s compared to $20 million in 2017.
Sure, nothing can replace the personal touch of a human response. Well, at least not yet. But these chatbots out there right now are certainly on the right track.
3. Influencer marketing is evolving
Influencer marketing isn’t a new concept either. But the way that it’s being used on social media channels is definitely changing in 2018.
More specifically, companies are starting to partner with micro influencers to increase their credibility.
What exactly is a micro influencer? They are people on social media channels who have a strong following but don’t have a celebrity status.
While there is no exact threshold, micro influencers typically have anywhere between 1,000 and 90,000 followers. Once we start to reach the hundreds of thousands of followers line, we are entering macro influencer territory. And anything higher than a macro influencer is considered to be a celebrity.
These are some of the top reasons why brands are partnering with these types of influencers:
Research shows that micro influencers have 60% higher engagement rates than traditional celebrity influencers. You can also expect to see 22.2% increase in average weekly conversions from this marketing tactic.
Another reason why brands are so drawn to micro influencers is because they are cost-effective compared to other advertising expenses.
This is still a relatively new trend, so brands and influencers alike are unsure of how to come up with a standardized pay scale. As of now, it’s anything goes.
I’ve seen some businesses that don’t even pay their influencers. They just send them free stuff for social media posts.
But as we continue moving forward in 2018, I’m expecting micro influencers to be more business savvy and demand pay for their efforts.
They know their followers trust their opinions. So don’t be hesitant to spend money on influencer marketing as the year continues.
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