WASHINGTON, Jan. 24, 2024 (Globe Newswire) — GoodFirms, the world-renowned B2B ratings and reviews platform, has announced its latest research report.Social Media Marketing – Top Tips, Challenges and Trends to Watch in 2024This study aims to collect valuable advice, suggestions, and recommendations regarding social media marketing along with trends for 2024.
GoodFirms research highlights that more and more businesses are adopting social media platforms to grow, promote their brand, and increase sales by implementing the right social media strategy. Respondents also pointed out that the main benefits of social media marketing include large audiences, cost-effective marketing, increased brand awareness, increased customer engagement, and improved customer experience. .
According to the results of this social media marketing study, 11.6% of companies surveyed spend more than 75% of their marketing budget on SMM. Meanwhile, 15.8% of respondents spend 50% to 70% of their marketing budget, and approximately 32.9% of companies spend 25% to 50% of their budget on social media marketing.
LinkedIn is the best social media with 93.5% choosing this platform, Instagram 71.4%, Facebook 68.3%, Twitter 61.9%, YouTube 42.8%, Tiktok 33.9%, WhatsApp 25.6%, Reddit 21.5%, interest 6.5% It won as a platform.
This study looked at the types of content posted by marketers. The results are as follows. 92.6% are planning a blog, 87.1% are investing in images, 74.7% are investing in short videos, 62.3% are posting infographics, and 38.4% are planning a podcast.
According to GoodFirms research, evolving trends, customer preferences, increasing competition, and privacy concerns are significant challenges marketers face when implementing social media strategies.
Additionally, the study revealed important tips for social media marketing. Understand your audience and omnichannel presence, measure your social media marketing efforts, include engaging and exciting content, entertainment, implement social listening, AI-powered personalized content, post frequency. Etc.
“The growth of AI, automation, influencer marketing, the dominance of video content, the rise of AR/VR, the explosion of social commerce, social responsibility and sustainability, and user-generated content are some of the social media trends to watch. “It will be on the top list by 2024,” says GoodFarms.
GoodFirms concludes that whether you're a small startup, a big brand, or a freelance blogger, social media has become an integral part of any business and can't be ignored. Social media platforms offer many benefits to the business sector, as the future of SMM is predicted to be heavily influenced by technologies such as automation, AR/AR, and artificial technologies.
Key findings:
- The use of artificial intelligence in social media marketing is becoming very popular as it provides personalization to customers.
- Influencer marketing, especially micro-influencers and nano-influencers, has room to grow in the future.
- Regardless of platform, video content and short reels will continue to dominate.
- The rise of technologies like AR and VR will revolutionize social media marketing strategies.
- Knowing your target audience and their preferences is essential for a successful social media strategy.
- Creating engaging, ephemeral, and authentic content is paramount to increasing social media engagement.
About the research:
GoodFirms Survey – ”Social Media Marketing – Top Tips, Challenges and Trends to Watch in 2024“Ask 650 companies Seek insight on the topic, understand trends, discuss the challenges social media marketers face when developing a social media strategy, and consider the best ways to create effective social media marketing campaigns.
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About Good Farms:
GoodFirms is a Washington, DC-based B2B reviews and ratings platform that provides B2B service users with rich, original, and in-depth information about IT products and services. Both service seekers and service providers benefit from the reviews, ratings, and research insights provided by GoodFirms.
