Hootsuite has launched its seventh annual Social Trends report providing a look under the hood of the social media marketing industry and how businesses can maximise their performance in the coming year.
There were a range of key findings in the report, including that almost three-quarters of small businesses (those with less than 100 people) are working with creators.
Hootsuite, however, thinks that as marketing budgets shrink, there will be a great opportunity for smaller companies to get a slice of the creator cake. 29 per cent of businesses pay creators in products or freebies, for example, while 44 per cent of companies pay creators less than $500 per post — with 15 per paying nothing at all.
Similarly, just 18 per cent of marketers create different posts for different platforms, while more than half reuse the same post on each platform with as few changes as possible.
But despite the extra leg work, marketers that create different posts for different platforms are significantly more confident in the results they’ll get. Just under 20 per cent say they are extremely confident in their returns with 40 per cent saying they are confident. By contrast, less than five per cent of marketers that reuse content are extremely confident. Just over 20 per cent say that they are confident in getting a return.
“Social media has never played a more central role to businesses. As businesses continue to look for ways to future-proof operations and connect with today’s tech-savvy customers, social media and digital marketing will inevitably play a part in nearly every business strategy,” said Maggie Lower,
Hootsuite’s chief marketing officer.
“In 2023, businesses that take a social-first approach to their brand and customer care strategy will be the ones to reap the benefits. Stronger brand reputation, greater customer interaction, trust and loyalty – now and in the future – depends on it.”
The report used survey data from more than 10,600 marketers and interviews with “dozens” of social marketing practitioners, leaders, observers and partners.
“In a year marked by global economic and social upheaval, brands and organisations are looking for tools to help navigate their business through the noise to connect with their customers — and with even more urgency as we all become more digital and connected,” said Tom Keiser, Hootsuite’s chief executive officer.
“With the launch of our 2023 Trends Report, we’re proud to provide our insights, recommendations and tangible recommendations to help organisations not only successfully navigate the digital wilderness, but also adapt to new buyer trends, find new ways to support their customers, and identify new paths for growth.”
You can read the full report here.
