Every Agency’s Guide to Social Media in 2024: How to Stretch ROI, Without Stretching Your Budget | GWI
Social Media
01 Turning challenges into opportunities
Let’s be real—the landscape has shifted. People’s priorities and values are evolving, budgets are tighter, new AI technologies are reshaping the creative industry, and we’re seeing significant trends emerging across social media:
- Consumers are increasingly using social media for entertainment rather than personal sharing, with video content rapidly gaining popularity.
- With declining trust in traditional media, people are turning to their favorite channels and influencers for news updates.
- Social media is playing a larger role in the purchasing journey, with more people discovering products and brands via social platforms rather than search engines.
The good news? Many of the challenges agencies face today are actually opportunities in disguise. Here are a few examples:
Challenge: The Rise of AI Generative AI offers significant time-saving benefits for agencies, but consumer opinions are mixed. With the rise of spammy content, it’s no surprise that only 3 in 10 consumers find it “appropriate” to use AI for writing social posts.
Opportunity: Speed Up Ideation Use AI to expedite data gathering and spark creativity, from pitch preparation to strategic content planning. Authenticity and personalization are more crucial than ever, so ensure the “human” element remains central to align with audience expectations.
Challenge: The Attention Economy’s Stagnant growth indicates that time spent online has plateaued, with social media usage declining in over 20 of 50 global markets since Q4 2022. You’re competing against thousands of brands (and bots) for people’s attention.
Opportunity: Do More with Less To capture and retain consumer attention, focus on where and why they’re spending time on social media. Tailoring your marketing efforts to meet these preferences will help you cut through the noise more effectively.
Challenge: Inclusive Marketing Diversity, equity, and inclusion (DE&I) are increasingly important, with concerns about representation in ads. Audiences are unlikely to engage with or trust brands that don’t reflect their identities.
Opportunity: Build Trust with Engaging Content Brands with a narrow focus on Gen Z may overlook other valuable audiences. Validate your client’s target audience, and remember that baby boomers, for instance, are an often-overlooked demographic—many are active on TikTok, with their social media usage climbing since the pandemic.
02 Driving ROI with insight-led channel planning
Before selecting which channels to prioritize, leverage third-party consumer data to identify your client’s ideal target audience and their preferred social media platforms. The more insights you gather, the better you’ll understand where your audience spends their time, their unique traits, and what they expect from your brand.
Naturally, your goal is to establish a social presence on platforms frequented by your client’s target audience—covering as many platforms as feasible to enhance visibility and broaden reach. However, it’s also vital to consider platforms that enjoy high popularity and cultural relevance.
For instance, consider TikTok. Despite ranking 8th among consumers’ most-used platforms, it holds the 3rd position for perceived cultural influence—a hub where new trends are born. By staying abreast of trends on culturally significant social apps and consistently engaging with or responding to content, you can amplify your client’s visibility organically. The key lies in crafting compelling narratives that ignite discussions.
Step 1: Identify Your Target Audience (and Their Preferred Platforms)
Consumers often frequent multiple apps daily, sometimes simultaneously, and engage with similar content across these platforms. Juggling all these platforms may not be feasible, nor is it necessary, given the significant overlap in social media usage—like the 89% of BeReal users who also utilize Instagram.
However, it’s crucial to recognize that each audience is distinct. Our generational analysis underscores the importance of delving deeper into platform demographics: while Facebook remains popular among older demographics, younger generations gravitate toward platforms offering more visual stimulation.
Keep in mind that every platform boasts its own distinct culture and atmosphere. It’s imperative to grasp these subtleties and tailor your social content accordingly to meet users’ expectations. However, it’s important to be practical—producing one standout post on a single platform surpasses churning out ten subpar ones across multiple platforms. Therefore, consider factors such as time, budget, and resources before making commitments.
Authenticity remains paramount, so evaluate how well your client’s brand values, tone of voice, and messaging align with your selected channels and target demographics. Embrace experimentation and learning—leveraging consumer insights to craft pertinent content that resonates with audience interests and prompts engagement.
Dive deeper into the comprehensive guide for expert strategies for optimizing your social media presence. Unlock valuable insights and actionable tips to elevate your brand’s visibility and engagement. Continue reading now!
The Table of Contents of “Every Agency’s Guide to Social Media in 2024: How to Stretch ROI, Without Stretching Your Budget” :
- 01Turning challenges into opportunities
- 02Driving ROI with insight-led channel planning
- 03Nailing your client’s content strategy
- 04Getting influencer marketing right
- 05Success story: TikTok
- 06 Key takeaways
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