Unveiling Social Media Trends for 2024: What You Need to Know

1. Dominance of Video Content:

• 82% of internet traffic will come from video streaming by 2024.
• Short-form videos on platforms like TikTok and Instagram Reels are leading in engagement

Short-form isn’t just unavoidable at this point, it is the number one consumed content on the internet.

When information like?86% of women uses social media for shopping advice comes about, it is hard to ignore the potential of working with influencers to get user-generated content. And read our guide if you're in doubt whether your business needs a social media manager or content creator or both.

2. Rise of Social Commerce:

• 60% of Instagram users discover new products on the platform.
• Features like Instagram Shopping and Facebook Marketplace are boosting direct sales

While search engines (55%) and retailer websites (34%) are widely recognised as the primary sources of pre-purchase information, it is crucial not to underestimate the significance of social media for Gen Z.

3. Authentic & Ephemeral Content:

• 65% of consumers authenticity in brand support.
• Stories and live videos are particularly effective.

Youtube still has the has the highest average visit duration (00:20:09) and one of the lowest bounce rates (22%)

4. Micro-Influencers on the Rise:

• Micro-influencers have up to 60% higher engagement rates than macro-influencers.
• They help build trust and authenticity

Stores that have at least one social account?have 32% more sales on average than stores that don't use social media

The most important factor for running successful social media ads in 2024 is to make sure your targeting is very specific.?

5. Community Building:

• Creating and nurturing online communities is key.
• Engagement within these communities fosters brand loyalty

Customer reviews are 12 times more trusted than direct marketing from organizations.        

User-generated content (UGC) is 9.8 times more impactful than influencer content for purchasing decisions.        

Over 99.9% of consumers read reviews when shopping online.        

88% of consumers prefer businesses that reply to all reviews, compared to 47% for those that don't respond.        

6. Data Privacy Concerns:

• Users are increasingly concerned about data privacy.
• Transparency and data protection are top priorities for social media platforms.

Takeaway: To thrive in the evolving social media landscape, brands should focus on video content, leverage social commerce, collaborate with micro-influencers, and build strong online communities while ensuring data privacy

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