This is How The Social Media World Could Look in 2024…
Social media experts, Emplifi, have recently shared their eagerly awaited predictions for 2024 and how the world of social media could shape up for both marketers and their respective platforms.
Emplifi’s top prediction for the year is that “social shopping will become a crucial element of online commerce strategies as brands aim to streamline the transition from product discovery to purchase”, suggesting that brands will have a leg up if they can create a seamless shopping experience for their customers.
Interestingly, they also predict that customer support teams will turn to social platforms to address customer inquiries and concerns which could be the start of a major transformation from the traditional customer service model.
Finally, an interesting one for both marketers and influencers is that experimenting with both short and long-form content is likely to achieve better engagement in the new year, which is a change from 2023 when short-form content dominated most social platforms.
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98.1% of Meta’s Revenue is Said to Come From Advertising
An infographic produced by the renowned team at Visual Capitalist has recently caught the attention of marketers, leaving some shocked at the reliance that major social platforms such as Meta have on advertising.
It was reported that in 2023, 98.1% of Meta’s total revenue came from advertising, which equated to over £92b in 2023. Interestingly, 43% of this total revenue came from the US and Canada, 23.8% from Asia and the Pacific and 22.9% from Europe, despite some of the biggest advertising companies being based in Europe!
It was also stated that as of September 30th 2023, Meta had 3.96 billion monthly active users across all platforms, which equates to nearly half of the global population. The infographic provides interesting insight into the numbers behind the social giant, but also their potential fragilities around the sourcing of their funding.
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TikTok Kickstarts The Year With New Desktop-Based Tools for Creators
As they welcome their creators into the new year, TikTok has developed new tools to help them maximise their creator’s performance in 2024, including a new Creator Center UI that provides more analytics insights and updated discovery tools which integrate conversational AI.
The new Creator Centre UI has been reformatted to make it easier for creators to see the full performance of their content and audience responses. The reformatting has been optimised for PC, so it may make it more efficient for social media managers to keep an overview of content across the platform.
Creator Center users now have a conversational chatbot guide to help them find what they’re looking for. Creates can brainstorm creative ideas, see what’s trending on the platform, and write scripts for their videos with the AI assistant, and so far it’s been a hit with existing creators.
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‘X’ CEO Could be Axed After Poor 2023 Performance
Since her appointment as CEO in June 2023, it has been nothing short of a disaster honeymoon period for Linda Yaccarino at X (formally known as Twitter), which has led to many raising their eyebrows over whether she is the right person to get the platform back on track in 2024.
Some suggest that a big reason behind her substandard performance is the antics of owner Elon Musk, who has been guilty of making radical changes to the platform and then sitting back and basking in the media frenzy that each change created. It seems that Musk appointed a CEO to take the fire from the media, whilst he pulls all the strings behind the scenes.
Although Musk’s actions have fallen heavily on her shoulders, Yaccarino has been outed as an enabler, often adjusting her moral stances to align with Musk’s controversies. Since Linda has only praised Musk and supported his actions, could this be the beginning of the end of her time at X?
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