Last week, Andrew escaped the sideways snow in Ohio and landed in beautiful San Diego to attend Social Media Marketing World 2023. It was an eventful several days, packed with workshops, conferences, and networking with marketers from all over the world.
As marketers, keeping up with the ever-changing digital landscape is essential, and this year’s event was packed with information. Below are a few key takeaways that we plan on applying to our marketing strategies immediately:
1. The Enduring Power of Facebook
Despite the doom and gloom in the headlines, Facebook is far from dead. Data from Meta indicates that Facebook alone has 2 billion monthly active users. A recent Hootsuite study showed that out of 5.3 billion global internet users, 3.71 billion use at least one Meta app every month.
2. A Shift in Social Media Consumption
Facebook may not be dead, but the meteoric rise of TikTok has led to a significant shift in the way people consume content, and how the algorithms are optimized for engagement. Since 2022, the amount of “connected content” (shared by friends, groups, or followed pages) we consume has significantly fallen, being replaced by “unconnected content” (from people or pages we don’t follow). Unconnected content has grown by 44% since Q1 2022, with Reels on Facebook and Instagram driving the majority of new consumption.
3. The Resurgence of Meta Ads
Meta ad costs have dropped by 30% since January, the first time in 10 years. With more people using Meta platforms than ever, and ads becoming more efficient, Facebook and Instagram ads represent a great opportunity to promote your brand in a crowded digital space.
4. LinkedIn’s Evolution from Professional Networking to Content Powerhouse
LinkedIn continues to be the top platform for professional networking, with 180 million daily American users including C-suite, business owners, startups, and professionals. However, LinkedIn has evolved from a stiff networking platform. Instead, engaging content like questions, polls, videos, and even selfies, are now the keys to success on LinkedIn. By optimizing your profile and engaging your audience, you can turn LinkedIn into a lead generation tool that is “better than your website.” (Judi Fox)
5. AI: The Game-Changer
The topic that had everyone buzzing at Social Media Marketing World was AI. With recent announcements from Google’s PaLM APIs, OpenAI’s GPT-4, Runway’s impending “breakthrough” in storytelling, and the many many more AI platforms that are soon to come, it’s clear that AI is about to reshape the marketing landscape. Paul Roetzer of Marketing AI Institute predicts that 80% of marketing tasks will be automated within the next 2-3 years, meaning “Meaning that AI won’t replace marketers, but marketers who use AI will replace marketers who don’t.” Sundar Pichai, Alphabet & Google CEO, believes that AI is “more profound [an invention] than electricity or fire.”
Social Media Marketing World 2023 was an engaging and fun conference, packed with valuable insights into the future of marketing. As marketers, embracing these emerging trends and leveraging new technologies is not optional. Keep an eye out for more updates and insights as we continue to explore the developments that shape the marketing world.