There are over 2.5 billion active social media users worldwide and the number is growing at a rate of 9% a year. The advertising spend is rising even faster. According to Advertising Age, social media spend grew 55% to $10.9 billion, up from the previous year’s $7 billion.
Brands and businesses will do themselves well to move where their target audience are. Millions of people are spending more time online and social media platforms.
From time to time, new features are added to all social media platforms to make user’s experience fun and unique. However, must of this features do not mature into something universally accepted or used? But just like different technological developments that has been seen since the beginning of time, this innovations are sure to gain ground in the coming months.
Highlighted are digital strategies that will shape 2017:
Study by market research firms like Zanthus have found that quite a number of people have started cutting back on TV subscriptions and are moving to social/digital platforms. This means that network and content will have to start working on live video strategies for platforms like Facebook Live and Instagram stories.
The concept of being of being able to engage with consumers in a one-on-one ways slowly becoming a huge asset for brands. The focus though would be in developing relevant content to so many whilst also learning from consumer behaviour and trends b both individually and collectively. Cost of developing bots for such purposes is still on the high side but costumer service oriented brands can benefit massively from this in 2017.
Peer to peer monetary exchange has been possible on Messenger and Google for while now and is steady becoming huge around the world. Social media networks like Twitter and Pinterest are now allowing purchases which will aid mainstream adoption by major brands and individuals.
Though much has been heard and little seen, VR is on the steady rise. From 360 degree videos, immersive consumer experience to gaming, VR is only going to get better and more commonplace in 2017.
Evolution of Social Channels:
With Snapchat’s continued rise and Explore tab on Instagram, social channels are now increasingly taking over our free time and some work time too. Better search algorithm will make it easier to find fun and interesting channels/accounts to engage with, ensuring that consumers spend more time on these platforms.