Why social media is more important than ever
There are over 4.62 billion social media users worldwide, well over half of the world’s population. What’s more, this growing industry is also changing. Not only is this industry growing, but it is also changing. People are now using these networks for more than just engaging with friends. Today, social media platforms play a vital role in influencing consumer behavior in both B2B and B2C spaces.
There is more than 4.62 billion social media users in the world, it is well over half of the world’s population. What’s more, this growing industry is also changing. Not only is this industry growing, but it is also changing. People are now using these networks for more than just engaging with friends. Today, social media platforms play a vital role in influencing consumer behavior in both B2B and B2C spaces.
In 2022, more than 98% of consumers consider taking part in the not-so-new phenomenon called “social shopping”. Social shopping, or social commerce, leverages the sense of community and connection created by social media to integrate buying and selling into our daily lives. Consequently, social media has become a digital shopping mall, where consumers browse products and services while making purchasing decisions. through interactions with friends, influencers and brands.
This channel is expected to reach a size of $1.2 trillion by 2025, meaning no brand, retailer or platform can ignore it. One of the most crucial areas of change is the shift from traditional search engines, like Google, to social platforms like Reddit. While you’re unlikely to be searching for “groceries near me” on Reddit anytime soon, consumers are increasingly looking for validation of shopping choices on social platforms, especially Reddit, rather than to check Google reviews. Are the cracks starting to appear?
Many search engine giants are increasingly receiving kickbacks from users for search results that provide no value to the user. This is especially true when it comes to technical questions and peer-generated reviews, which are often unreliable. As a result, users have increasingly moved to social sites like Reddit to find relevant and helpful results.
Too many advertisements
.As paid platforms like Google Ads grow in popularity, so does the number of ad search results on any search. There is a plethora of research showing users’ reluctance to scroll below the fold of the page for information. With this in mind, it is obvious that users are increasingly frustrated with big search engines. .
SEO-targeted content lacks value
Clever keyword placement can keep results at the top of the SERPs, but some companies have taken advantage of this, abusing the system by keeping low-value content at the top of searchers’ listings. This means users are finding more content that lacks quality. Although Google’s machine learning algorithms have strong anti-spam capabilities, it’s no secret that most content found online seems repetitive.
Today’s users are at the “algorithmic mercy” of things happening on Google’s side. It won’t provide exactly what readers are looking for, but rather show them what they “really meant.“This trend towards personalization can actually hinder the user experience.
How Social Media Makes Things Better
The shift to online interactions has been further propelled by the pandemic. Most consumers around the world now have both display power and purchasing power on their smartphones. They can use social media as a trusted advisor, much like asking for a friend’s recommendation before making a buying decision. Simply post a query to your feed and you’ll receive unfettered responses from family, friends and strangers – all of whom are part of their online community. Post-pandemic, customers showed a an increased reliance on influencers, in the same way they trust their friends, valuing their opinion and direct criticism of anything mentioned on traditional online platforms. This has especially increased among Gen Zers and millennials.
Unfortunately, the power of this kind of social validation is that you can’t fake it. But there are some things you can do to take advantage of this burgeoning social economy:
- Content driven: You may not be able to brag, but posting genuine, engaging, and useful content can boost your social rating. Having actionable posts with links to signup pages or swap now buttons can dramatically improve engagement. .
- Network Driven: Having a large and engaged audience can help you get better social ratings and increase your reach via word of mouth. This is a crucial advantage that is almost entirely unique to social media. If you neglect social media, you risk suffering poor review and the effects of negative word of mouth.
- Focused on experience: Giving your merchants a positive experience on your page can give your brand a huge social boost. This can range from posting lots of humorous “memes” to posting occasional high probability trade setups.
The amount of growth seen among social media users was unimaginable 10 years ago. Platforms like Reddit and TikTok are growing exponentially, with the latter garnering 8 new users each second.
Despite its seemingly minimal return on investment, brokers can no longer ignore social media as a crucial part of any marketing strategy. However, it takes effort to maintain constant interactions on various social media networks. Autochartist can reduce the resources and effort brokers need to ensure their channels are active and engaging. Our technology can automatically publish meaningful content to dozens of platforms, helping brokers capitalize on changing market trends. Contact us for more information.