According to a report released by ComScore,
“Social Networking leads all categories in engagement, accounting for 1 out of 5 minutes spent online.”
Parallelly, another research report by ComScore stated that
“Digital media usage time is driven by mobile apps with smartphone apps accounting for more than half of all the time spent.”
What can we infer from this?
From a marketer’s perspective, social media marketing and app marketing follow different approaches, which is true. But here we try to understand why mobile and social platforms are receiving maximum engagement for most businesses.
The answer—Digital population seeks flexibility and personalization.
Social media is a virtual platform that has transformed the digital space in a way that it now mirrors the diversities and similarities in the real world. This has been possible because people are connected to the network 24×7 via their mobile devices. With continuous advancement in tech and digital analytics, it’s easier to track and interpret the behavioral pattern of billions of consumers in this space. This trending phenomenon has strained the enterprises to induce enterprise mobility.
The difference between digital, mobile, and social media is fading away. The way billions of people now consume information and communicate has evolved from newspapers, television, and telephone to tweets, YouTube, and WhatsApp.
What’s going to be the next move of marketers from the digital age?
Let’s discuss the latest trends following which marketers can benefit from the social media mania and mobile app explosion occurring at the same time. When we look closer, these fragmented media platforms are undergoing a process of segmentation based on demographics, habits, and interests.
Let’s have a look at what’s been happening with Snapchat lately. According to eMarketer’s latest forecasts, the usage of Instagram and Snapchat is expected to rise by double digits in the US and the UK. Teens are gradually moving from Facebook to Instagram and Snapchat. Why? It’s because some features like selfie masks, 24-hour stories and the overall visual appeal of these platforms are more popular among teens. Even though Facebook tried to copy these features it has failed to gain the loyalty of young adults.
This is just an example of how a social media platform is segmenting a large population by age and its interests. It simplifies targeting the right segment for marketing the product that is meant for them. The ad budget can be spent wisely for a better output. But this is just the beginning; the transformation process is still at a primitive stage. Nonetheless, some social media platforms are emerging to serve various interest groups that have already gained millions of users.
Five latest developments and trends in the digital marketing space
Social Media as a CRM platform
Simon Mall’s chatbot strategy has recently created a lot of buzz. It delivers deep personalization to its customers. You can send an instant message to the ‘mall’ on Facebook Messenger and talk directly. The shoppers can DM specific questions to mall representatives using this chatbot.
In an interview, Christian Brucculeri, CEO, Snaps said
“Chatbot platforms are the next evolution in digital CRM [customer relationship management] for brands. In the next 18 to 24 months, every brand is going to need to have some mobile messaging CRM tool and strategy in place to ensure that their bots are communicating with the rest of their marketing technology solutions and drawing from other customer touchpoints.”
Mobile Social Mania
A new study from RetailMeNot found that 92% of marketers planned to increase investments in mobile ads in 2017. Social media advertising was also a draw; 89% of respondents planned on increasing outlays there. Social media giants like Facebook already have 80% of their revenue coming from mobile ads and eMarketer predicts that by 2020, 59% of the US Facebook users will access Facebook through mobile.
App cannibalization and increasing competition
It’s been almost a decade since mobile apps became popular and now they have started eating their own kind. The time spent on apps has declined for some categories while other apps have seen massive growth. Here is an opportunity for marketers to choose from the best performing categories to reach their target segment.
When it comes to app popularity “Commutainment” is a category winning the app game. The commutainment category includes the apps that remain centered around communication for entertainment. For example, social media apps, messaging apps, etc.
Cross Platform Analytics
In this phase of transition where mobile transformation is midway, it becomes necessary to understand which platforms are helping you achieve your goals at present. Identifying and maintaining good KPI’s depend on the data source you choose, and this is where cross platform analytics can give useful insights.
Camera becomes keyboard
Videos have the highest interaction across all platforms and will continue to do so.
Millennials have a new keyboard, and that is the camera. The graph below shows the average engagements by Facebook post type in June 2017.
Social Media and mobile apps will remain the focus of marketers in the year 2017. We can expect mobile tech and social media usage to grow with Millennials and increase its penetration.
Kriti is currently managing the inbound and outbound marketing for Kaspon Techworks. She is an enthusiastic digital marketer who likes to experiment with the latest marketing trends and techniques. She is an avid learner and loves to express her views through blogging.