How Will Social Advertising Change in 2023? We Explore Six Top Trends.
The breakneck pace of change in today’s bustling social advertising ecosystem means brands must exercise constant scrutiny of their digital marketing efforts in order to maximize budget and maintain relevancy. And the stakes have never been higher than in 2023, as overall social media usage—and spending—continues to grow year over year.
More users means more competition for ad space, but also greater opportunities to break through and connect with your audience. Of course, every opportunity presents potential risk as well. Below, we explore what’s driving changes in the social advertising landscape and what brands can do to stay ahead of the curve in 2023 and beyond.
TikTok’s meteoric rise to social media superstardom has maintained momentum over the past 12 months, and the trend lines for 2023 and beyond point higher still. While the platform faces risks in the form of potential governmental intervention, it is on track to surpass 100 million monthly users sometime this year, joining social giants Facebook and Instagram in achieving that milestone.
Despite its rapidly expanding audience—and average individual engagement of 80 minutes daily—the lingering uncertainty surrounding the platform has made it difficult for many brands to build a committed strategy around it. It’s worth noting that advertising on TikTok is still economical when compared to other major platforms, offering a huge opportunity for video-savvy and strategically agile brands to make an impact.
While these are the trends we expect to see dominate the digital marketing landscape this year, it is critical that brands understand the underlying fundamentals in order to maximize their opportunities across the social media ecosphere. Click here to learn more about how you can make digital marketing work for you in 2023 and beyond.
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To learn more about this topic or to discuss an issue impacting your business, contact Bailey’s Vice President of Client Services, Jamie Gailewicz, at 610-818-3103 or email us at [email protected].