Main of the article
Social media usage has grown significantly in the past year, spurred on by the coronavirus pandemic and its impact on the daily lives and habits of people in lockdown.
New data has revealed that the number of global social media users grew more than 10% in the past year. This means that more than half the world's population now use social media.
64% of marketers see social as becoming more important to their organization' marketing effectiveness over the next two years.
Ad revenue slowing down
Facebook reported its slowes revenue growth but it was still 7% higher than analysts expectations, and also they have grown surprising resilience so far. Full consequences of the ad boycott won't be known until the third quarter, further losses could also arise from the platform's potential ban on political ads in the month ofo the US election.
The decision to impose a blanket ban on political ads is not cut and dry, as it will be difficult to determine where to draw the line. Banning political ads favors incumbents and whoever the media covers, Mark Zuckerberg said.
Even though big brands have been veering away from Facebook long before both the pandemic and the 'Stop Hate for Profit' initiative. Due to a large percentage of its nine million or more advertisers ar small businesses, they are less likely to be in the position to sacrifice the reach that Facebook offers, so the boycott won't be necessarily harm Facebook too much.
Twitter has seen its daily actice users increase 34% to reach 186 million, they now said to be considering a subscription model, which would involve charging users for certain parts of the platform. It's certainly a sign that platform's reliance on advertising revenue is being shaken.
In terms of ad strategy, it is likely that the Covid19 will continue to shape paid social, particularly fo retailers.
As a result, the trend will be seen by consumers that gifting direct rather than ordering and giving gifts in person.
It means that creating awareness early through paid social will be key.
Marketers re-evaluate influencer partnerships
Many brands have turend to influencers in order to in viewers over lockdown, however, influencers have found their sponsorships dwindling. Users are turning to social platforms like Instagram to engage in meaningful and positive conversations as well as to find a sense of community.
Going forward, it is likely that brands will continue to monitor and evaluate influencer partnerships closely, particularly in terms of the type of content that consumers want to see post-Covid.
Video goes from strength to strength
Video has been the over-arching medium of choice, with many brands pivoting to video content as well as live video to increase interaction with users. The amount of video content increased across the three platform of Facebook, Twitter, and Instagram in March.
Brands to capitalise on growth of TikTok and more quirky, user-generated content
As well as live streaming, short-form content has also become more popular with social media users in 2020, driven by the growth of TikTok. It is particularly popular with younger users, it was recently reported that kids aged 4 to 15 in the UK, US, and Spain are spending almost as much time watching TikTok videos as they are watching content on YouTube.
One of the reasons for the app's popularity is its championing of authenticity and personal expression, driven by user interest in niche topics such as dance, comedy, fashion, as well as user engagement in current affairs and political movements.
Risk of boycotts and backlash increase
2020 has also seen a shift in the type of conversations both brands and users are having online, largely fuelled by the Black LIves Matter movement. It has led to brands taking a stand against platforms that fail to address hate speech.
Regardless, the boycott is a clear example of how both brands and social media platforms are being held increasingly accountable, driven by the clear expectations of consumers.
New features to reflect our new normal
Platforms have also been quick to develop landing pages dedicated to the pandemic, whereby users can easily find and access the latest news and information on the topic. Overall, this suggest greater recognition of mis-information and a bigger attempt to combat deliberately panic-inciting content.
Social selling gains momentum
Social commerce has continued to gain momentum in 2020, driven by new features rolled out on Instagram and Facebook.
Both of platforms can make anyone sell all types of businesses to set up their own online store. With more consumers shopping online since coronavirus, it also means that businesses have a greater chance of being found by users who are increasingly using social to discover, browse, and shop.
Consequently, social media could steer the way for new and exciting shopping opportunitiese in 2020, particularly as platforms like Facebook and Instagram are able to incorporate social proof to further drive sales.
Vocabulary
- advocacy : so's advocacy of a particular action or plan is their act of recommending it publicly (생각, 행동 노선, 신념 등에 대한 공개적인) 옹호, 지지, 변호
- veer : If so or sth veers in a certain direction, they change position or direction in a particular situation 방향을 홱 틀다, 바꾸다
- initiative : An initiative is an importatnt act or statement that is intended to solve a problem (특정한 문제 해결, 목적 달성을 위한) 계획, 진취성, 결단력, 주도권, 주도 등
- closure : The closure of a placce such as a business or factory is the permanent ending of the work or activity there 폐쇄, 종료
- quirky : sth or so that is quirky is rather odd or unpredictable in their appearance, character, or behabiour 변덕스러운
- solidarity : If a group or people show solidarity, they show support for each other or for another group, especially in political ro international affairs. 연대, 결속
- dent : 움푹 들어가게 하다, (자신감, 명성 등을) 훼손하다
- dominance : The dominance of a particular person or thing is the fact that they are more powerful, succesful, or important than other peopler or things. 우월, 권세, 지배, 우세 등
- hypocritical : If you accuse so of being hypocritical, you mean that they pretend to have qualities, beliefs or feelings that they do not really have. 위선의, 위선(자)적인
- combat : A combat is a little, or a fight between two people. 전투, 싸움, (나쁜 일의 발생, 악화) 방지하다, 싸우다, 전투를 벌이다
- insurgence : The insurgence came to an end almost two months after it began. 모반, 폭동, 반란
- steer : When you steer a car, boat, or plane, you contro it so that it goes in the direction that you want. 조종하다, (특정 방향으로) 움직이다
* refer/Link : https://econsultancy.com/what-will-shape-social-media-marketing-trends-in-the-second-hal f-of-2020/
What will shape social media marketing in the second half of 2020? – Econsultancy
With social media usage soaring and new features appearing, let’s take a look at some of the trends that have and will continue to shape 2020.
econsultancy.com
* The above is a summary for personal practice.
Thank you for corrections and advice, but please refrain from malicious comments.