What’s in store for the social media industry in 2018?
The way consumers use social media channels is constantly evolving and as marketers and entrepreneurs, we need to adapt to these changes.
To better understand these changes, plus what’s ahead for 2018 and beyond we teamed up with Social Media Week to collect data from over 1,700 marketers and create the State of Social Media 2018 report. The report shows us how marketers, from businesses of all sizes, are approaching social media marketing.
Ready to jump in?
A handy guide to navigating what’s coming up next in the social media world.
3 Key social media takeaways to guide your marketing in 2018
1. There are huge opportunities in the messaging space (only 20 percent of marketers have used messaging apps for marketing)
Messaging platforms have grown at an incredible rate over the last couple of years. And there are now more people using the top four social messaging apps (WhatsApp, Messenger, WeChat, and Viber) than the top four social media apps (Facebook, Instagram, Twitter, and LinkedIn)1.
Despite this incredible growth, our State of Social 2018 survey found that just 20 percent of businesses have invested in marketing through messenger platforms:
After seeing such high user growth for the past few years, companies like Facebook will begin to focus on how they can monetize chat apps which will open up new advertising opportunities for marketers.
Right now, marketers still appear to be investing more time and resources into social media platforms like Facebook and Twitter, but as organic reach continues to decline (more on this below), we’ll see a greater number of marketers experiment with messaging apps as a way to connect with their audience.
2. Companies that invest in social media ads are more than twice as likely to say social media marketing is “very effective” for their business
When we asked respondents how effective social media marketing has been for their business 45 percent said “somewhat effective” and a further 29 percent believed that social media marketing had been “very effective”.
However, when we split these results based on whether or not the respondents had invested in ads, we found that businesses that have invested in social media ads are more than twice as likely to report that social media marketing is “very effective”.
Whereas businesses that have not invested in ads are more than twice as likely to report that the effectiveness of social media marketing for their business is “uncertain” or “very ineffective”.
3. Engagement is the #1 way to measure ROI from social media advertising
When we asked respondents how they measure the ROI of their social media advertising campaigns, 42 percent said ROI, followed by leads (17 percent) and sales (15 percent):
When we broke down the data by business size, engagement was still the #1 way both small and large businesses measure ROI from social media advertising:
This appears to be the continuation of a trend we noted in 2017, where social media is becoming more about engagement than driving traffic or making direct sales.
State of Social 2018: The full report
About the State of Social Media survey and data
For this report, we surveyed over 1,700 marketers (1,796 to be precise) from businesses of all sizes. You can view a more detailed breakdown on the data at the bottom of this post.