Social commerce, social search, influencer marketing… Discover the main findings of Hootsuite’s global Social Media Trends study.
Hootsuite, a Canadian platform for managing campaigns and customer relations on social networks well represented in Europe, publishes this November 15 its “Social Media Trends” study on social media trends in 2023. Explanations of the flop of social commerce in Europe to the rise of social search in France, via the access of SMEs to certain segments of influencers hitherto congested, various lessons are delivered to brands on the social strategies to be deployed in 2023.
Influencer marketing more accessible
Brands that previously couldn’t or dared not access influencer marketing have an opportunity to seize. According to Hootsuite, major global brands are reducing their investments in influencer marketing. For this, the report bases itself in particular on the evolution of the data obtained in its own surveys over the past two years. “A drop in demand from big brands can make it easier for small and medium-sized advertisers to access certain creators who were too expensive until then,” analyzes Romina Gonzalez Galetto, director of Hootsuite France. But that’s not all. “Creator sponsorship offers are down this year as well because brands often need to experiment and question their strategy,” explains the specialist.
Social commerce is still scary
In China, the report reminds us, citing an eMarketer forecast, social commerce generated about $350 billion in 2021, ten times more than in the United States. “The market was expecting an explosion in social commerce, which did not happen,” explains Romina Gonzalez Galetto. The reasons for this? Lack of consumer confidence. “Marketers – 37% – confirm to us that consumers are afraid to leave their bank details on platforms. At the same time, an Accenture study indicates that for 48% of them the main concern when making a purchase on social networks is the quality of the product and the reputation of the brand”, specifies the specialist. “Brands will have to work hard on their image and reputation before developing their sales directly from social networks,” she continues. It should be noted in passing that very few brands (less than 8% according to the study) claim to dedicate teams to customer relations on social networks. “The offer of a customer relationship on its social pages is not a luxury: its absence can have a very negative impact on the reputation of the brand. It is therefore a skill and a service that companies will have to develop” , concludes Romina Gonzalez Galetto.
Social search is growing in France
A trend is growing in France: the use of social networks directly to learn about brands, evaluate products, compare prices, get opinions. In France, at the beginning of 2022, nearly 40% of Internet users were looking for information on brands directly on social networks. In France and throughout the world, this phenomenon is observed at all ages. It is even pushed to the extreme among 16-24 year olds, since they use social networks more than search engines to find information. To keep up with this trend, brands must therefore take an interest in optimizing their social content for search. Work that also pays off in search engines, which increasingly display results coming directly from social media.
Test and stay safe
Twitter is experiencing a slaughter: change of governance, massive layoffs, new economic models, uncertainty about future decisions concerning algorithms, moderation, security, etc. Although still small, a share of audiences is starting to migrate to other alternatives. Should we stop everything on this social network? For Romina Gonzalez Galetto, the answer is no. “Listen first, analyze audience and performance data, observe the evolution of features and offers, test and only then make the necessary decisions”, she advises. As for emerging social networks, here again caution is in order: “Don’t give in to fads, don’t rush: let the network settle in, observe it, study it and wait a little for its presence and its audience are more consolidated before you get started.”
Hootsuite’s Social Media Trends report brings together the results of several studies carried out by leading market organizations (The Harvard Business Review, McKinsey, Deloitte, Edelman, Insider Intelligence, Forrester, etc.) and a survey of 10,643 marketers pretty much everywhere in the world.