Social Media Marketing in 2023: Future Trends and Scope

The advertising and marketing techniques have evolved a lot over the past few years. High accessibility of the internet and advanced technology have made social media ads a powerful marketing tool. Currently, social media ads account for almost 33% of all digital ad expenditures and are expected to grow over time. As the market develops, brands need to keep up with new tools and techniques to remain relevant.

"In 2022, almost 376 million people joined social media, increasing the total number of users by 10%. Now, there are 4.62 billion social media users, which is more than half of the global population"

In this digital era, social networking sites have become a staple in our lives. These apps are used for everything, from growing a clientele to making a purchase decision. The increasing popularity of social media makes it a potent tool to rule the marketing industry even in the coming years.

But, before we dig into the future scope, here’s a quick recap of the top social media trends 2022:

• Hashtags were replaced by social SEO
• Tiktok became one of the top social networking sites
• Instagram reels and Youtube shorts gained popularity
• Don't overstuff and include only relevant hashtags.
• Demand for engaging and high-quality content increased
• Higher demand for chatbots and other AI-Enabled services
• Closed Captioning (CC) became the default in social media videos
• Influencer marketing became the most preferred social media marketing strategies

From influencer marketing to reels, some of the trends mentioned above in 2022 are expected to continue in the near future. Here is a list of future scopes and trends in social media marketing that can help you strategize your next big digital campaign.

Metaverse, the next level of the internet, is a world in cyberspace with many possibilities.

• The advancement in AR and VR technologies opens up a wide array of possibilities, rapidly alternating the internet as we know it
• With metaverse and AI, there could be more personalization and data-driven feeds for the end users.
• Expect high restrictions on content to prevent fake news, impersonation, and fake identities, across all meta platforms
• Furthermore, the metaverse is set to lay out virtual platforms for businesses to work more efficiently

Within the next five years, influencer marketing is estimated to grow at a rate of 25%. The industry predicts that this form of marketing will continue to be a key trend in 2023.

• Influencer marketing has almost 11% higher ROI (Return On Investment) than any other digital marketing strategy
• Macro and nano influencers are growing at a rapid pace. With the increasing demand for authentic content, influencers with a small yet tight-knit community could gain prominence
• More collaborations could be expected between nano influencers who have a niche follower base and small and mid-sized businesses using social media for marketing

Augmented reality is not just for gamers but is used more and more as a marketing tool to reach people. AR is visually attractive and new to everyone. Social media advertising for brands could be greatly enhanced by using augmented reality.

• Snapchat and Instagram filters using AR will continue to be popular social media marketing tools
• Thanks to meta, users are now gravitating towards AR and VR experiences. The Drum reports, AR-enabled services can increase the click rate by approximately 33%. This shows a higher potential for brands to incorporate AR
• People are more likely to shop from brands that offer try-on features, an AR application for businesses using social media
• Many market analysts predict that augmented reality may continue to outpace virtual reality as a powerful tool to enhance user experience

Video marketing, especially short-videos, is one of the top social media trends 2022

• Instagram reels are currently the fastest-growing content format and have higher user engagement than other forms. Short-form videos could remain the most preferred choice of users even in 2023
• Many consumer behavior studies show that people use reels to research products or brands. 2023 would be a good time for brands to leverage this great tool to reach more people
• Meta announced to enable video sharing from Horizon world, meta’s flagship VR app, to Instagram reels or Facebook stories. This could be a great opportunity for brands to boost user experience

By 2023, artificial intelligence is expected to grow into a $42 billion technology, becoming more prevalent than ever

• AI-powered chatbots remain relevant to promote products and raise direct engagement with customers
• The year 2023 could be big for artificial intelligence. Algorithm-led social media news feeds could be showing more recommended content to the end users
• With smart AI navigation, this high-tech tool is expected to be a 190 billion-dollar industry in the next 3 years, making it an alluring opportunity for marketers

• Higher demand for macro and nano influencers with niche follower-bases
• More upcoming content regulations to avoid fake news
• Metaverse to include virtual platforms for businesses
• Short-form content to dominate social media
• Increased popularity and accessibility of VR content and apps
• AI to show more posts from pages and people you did not follow
• Brands offering online shopping experiences to include more AI and AR-enabled tools

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