January 12, 2021
Social Media and CX
Who would have known? A year after Facebook launched in 2005, just 5% of Americans had jumped aboard social media. According to Pew Research, fast forward to 2019, where the percentage of American adults using social media had risen to 72%.
What began as a nice gathering place for people to meet and get to know one another soon drew the attention of marketers who saw the huge potential so that today, social media is the favorite of many brands.
The 2020 CMO survey revealed that social media now captures as much as 24% of marketing budgets. And a survey of nearly 2,200 marketers and business leaders in the U.S. earlier this year by Hootsuite and Altimeter provided more reason for marketers to consider social media. In addition to 69% of adults on Facebook, 75% frequent Instagram, while 73% use YouTube and Snapchat. And this doesn’t include other popular platforms like TikTok and Pinterest.
Identifying and using influencers who have audiences that fit a company’s product line is one of the fastest and most effective ways to leverage social media. The trust and credibility they bring open brand doors very quickly.
Another option is platforms offering in-depth analytics that allow CMOs to target select demographics with ads. Facebook and LinkedIn are two such platforms. Besides building brand awareness, they can be helpful in lead generation.
Some platforms recognize the value of consumer engagement and provide analytics that is measurable in such areas as comments, shares, retweets and clicks on a shared link. It’s also a way to track and measure trends. Consumer habits, such as their most frequent sites, are also traceable. Facebook Insights, LinkedIn Page Analytics, and Twitter Analytics are some possibilities.
Because of the numerous social media venues, it’s important for brands that appear on them to be consistent and speak with the same voice. The tone must be not only authentic but also authentic. And all visual branding must be consistent across all the channels.
The future of social media continues to glow brightly. A lot of what’s likely to grow in importance to consumers is rather predictable based on recent research. CMOs who get ahead of this wave will likely reap earlier successes.
Video content is projected to increase in popularity. According to Social Media Today, it’s already a $35 billion industry this year. HubSpot reports that it has passed e-books and blogs to become the top form of media used in content marketing. 88% of those surveyed by Hootsuite/Altimeter said video produced positive returns on investment and 59% of those who had not been employing video said they would begin doing so this year.
Looking further ahead, tailoring communications at a granular level to provide even more detail and information is one area expected to see growth. A heightened focus on ensuring and protecting consumer privacy is another. In light of recent events, building community, particularly among millennials and Gen Z, is also expected to be of growing interest. Ease and breadth of use with mobile devices will always have appeal.