Increased Usage in Social Media
Research indicates that users up to the age of 40 spend an average of 2.5 hours per day on social media. Did you know that, on average, we use 4.4 different platforms, and people up to 40 years old use even five? This increase in time presents significant opportunities for brands to reach their target audience and build a connection.
The Rise of New Platforms
TikTok, Snapchat, and Instagram are experiencing strong growth. With TikTok leading in daily usage, boasting an impressive 5.7 million active users per month – it is evident that these platforms should not be ignored in your marketing strategy.
From Social Media to Interest Media
Guided by the success of TikTok, the focus is shifting from traditional social media to ‘Interest Media.’ This emphasizes the need for content that not only entertains but also informs and aligns with the user’s interests.
Platform Innovation and The Shift in Advertising Budgets
While platforms adopt features from each other, each platform retains unique qualities. This means that a one-size-fits-all approach is not effective; a tailored strategy for each platform is essential.
There is a noticeable shift in advertising spending. Brands allocate less budget for long-term brand building and more for immediate results. Moreover, with price decreases on platforms like Meta and LinkedIn, and TikTok being the most cost-effective platform in terms of CPM, there are new opportunities for cost-effective marketing campaigns.