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The walled gardens of social media have dominated the world of digital marketing for nearly a decade. Massive audiences, data-driven ads, and rich content formats have led advertisers to pour budgets into Silicon Valley’s wells.
But in 2022, so-called “headwinds” of privacy and economic uncertainty, combined with increased competition and an evolving user base, have presented a new set of challenges for the giants and the marketers that fund them. .
Throughout 2022, each of the major platforms had both overall and unique challenges. In addition to mounting pressure from legislation, regulation, investigations, and lawsuits against tech giants, smaller startups, and the advertisers themselves, Apple’s app tracking changes are putting pressure on the tech giant’s revenues and limiting its targeting and measurement capabilities. weakened. Meanwhile, competition from rivals such as TikTok and the turmoil of Elon Musk-owned Twitter have contributed to the industry’s survival dilemma of where to show up and what to avoid.
“I don’t want to be in the buyer’s seat right now,” says Ryan Anthony, CEO and co-founder of marketing neuroscience startup Dirt. “I can’t think of a single advertiser he doesn’t need to blow up. [lifetime value] Model of the year for privacy.
In a turbulent year, marketers, agency execs, analysts, and other professionals have learned from data practices to Content strategy for e-commerce initiatives. The rise of TikTok, young user demand, growing creator economy, and brand safety issues have compounded an already complex situation, causing some companies to rethink their usual tactics.
At the heart of this discussion is the importance of data. A survey of 6,000 marketing leaders conducted by Salesforce this summer found that 75% still rely at least partially on third-party data, but 68% have moved to first-party data said it plans to. Meanwhile, 51% say their measures to protect consumer privacy exceed regulatory requirements and industry standards, down from 61% last year.
“Marketers are restructuring around first-party data to create the right context and the right targeting on these platforms, so there can be a slight gap year,” he said. said Jay Wilder, VP of Product Marketing at Salesforce’s. Marketing cloud. “Part of it is shifting audiences from one platform to another, and marketers will catch up.”
imitator year
Gartner research shows that social advertising remains the largest spender at 10.1%, down from 11.3% in 2021. But the huge audience, evolving content his format, and expanded advertising tools on TikTok and Pinterest still attract different types of advertisers.
Facebook, YouTube, and Instagram have all been vying to catch up with TikTok. This made it his year where platforms copied and tried each other’s formats. Keep users in your app. And in September, Snap announced a major restructuring plan to refocus on Snapchat’s key differentiators like community growth and augmented reality.
“As TikTok and Instagram compete for audience attention, the lines of content between the two will continue to blur,” said Claudia Ratterman, Director Analyst, Gartner Marketing.
Some brands find success with organic reach TikTok’s decline over the years on Facebook and Instagram. Other companies are moving beyond social advertising by partnering with creators. For example, his Skillshare, an online learning platform that uses its own platform, influencers spend less on his marketing than they did two years ago, even when teachers own their audiences. .
Skillshare CEO Matt Cooper said: “If one of our teachers is promoting a Skillshare class on YouTube or in our newsletter, we know they are reaching people, not bots.”
Creator, computer and social beyond content
The growth of video has led marketers to think not only about what their creative assets look like, but how they can do more with them. User-generated content, the creator economy, and artificial intelligence such as generative AI will all be part of marketers’ content strategies in 2022 and likely to become even more of a priority in 2023.
Forrester Research Principal Analyst Kelsey Chickering said:
Content has been central, but the way content is consumed in social networks is also evolving in unexpected ways. Young people have used his TikTok search engine to find information and research products, but some researchers say there is a worrying and potentially dangerous misinformation in the search results. I also found (TikTok’s features also include executives from search ranking king Google, which suggests it may soon face more competition.) Elsewhere, people are on Reddit to get advice from other Reddit users, or add the word “Reddit” to your search queries to find something related. result.
Timo Pelz, vice president of business marketing at Reddit, said: “They are still spending money. They need to be very thoughtful about how they do it and justify their purchases more. A lot of the places you go to today just advertise you .”
Liz Cole, head of social at VMLY&R, says that the continued duplication of platforms and their functionality has led them to evolve from separate islands and collectively become part of the overall social web. In her view, platform users are in many ways all part of the same audience and need cross-platform content. This shift is also evolving the way agencies plan their content.
“Rather than giving a thumbs-up to trying to get people interested in content when they aren’t, we’re thinking about whether we’re creating content for people who are looking for it.
Elon Musk, Twitter, and the ‘Blue Bird in the Room’
When it comes to how platforms have changed marketing in 2022, perhaps the biggest change is also recent. Ever since Elon Musk acquired his Twitter two months before him, many marketers have been asking the platform to pause advertising, how to handle organic content, and to completely ditch the embattled blue bird. I’ve been working on whether to let go. On the other hand, it seems that some people still love it even in the new era.
The True Impact of Mask Ownership While Twitter and its advertisers may be uncertain for the time being, some say the turmoil will collectively cost tens of millions of dollars in lost advertising revenue.
It’s not just about advertising. Many businesses use Twitter for customer service channels, social listening, announcements, or other initiatives that rival platforms simply can’t deliver or don’t fit as well on other platforms. This dynamic also creates a catch-22 situation for the brand.
Gali Arnon, Chief Marketing Officer at Fiverr, said: “Even Twitter is supporting it by running ads. We’re actually hearing from customers who either love or don’t like it, and the funny thing is, those customers are complaining on Twitter.”
Widening cracks in the traditional walled garden of social media are also creating room for brands looking for fresh ways to grow new audiences and drive conversations with consumers. . Huge’s vice president of connection strategy, Beth Tripaldi, said some brands are starting to shift budget to “really unique pockets” such as Reddit and Discord. No, but many brands are building their own servers as a way to connect directly with fans.) When segmenting larger audiences into niche communities is harder than traditional social media marketing But she believes it also comes with new elements. creative opportunity.
“The people who are really driving the conversation around it aren’t really empowered or set up to grow from it,” Tripaldi said. “That’s where brands come in. Brands can be more of a facilitator that helps add value.”
Marketers’ efforts to integrate their online shopping strategy with their social media strategy have also led to the growth of “social commerce.” Facebook and TikTok are testing live video shopping, Pinterest is building a long-awaited new tool, and even Musk says he wants Twitter to become a more commerce platform.
For e-commerce platform MikMak, 2022 saw a 19% increase in social commerce traffic over 2021. Also this year, he saw a 531% increase in social commerce traffic based on buy intent clicks on MikMak from January to November. The places where traffic is coming from are also changing. For example, TikTok ranked 7th in total social commerce traffic share in 2021, but 3rd in 2022. (Facebook accounted for 56% of the share in 2022, followed by Instagram at 32%, YouTube at 3.6%, Snap at 2.3%, Pinterest at 1.3% and Twitter at 0.15%.)
MikMak founder and CEO Rachel Tipograph cites many factors that have changed the landscape, including the rise of retail media networks, the weakening of advertising attribution, and the convergence of brand and performance marketing. It’s especially difficult for businesses that rely on driving traffic from social apps to retail apps, as most people have opted out of being tracked on their Apple devices. While some places are more difficult to attribute, such as certain apps or certain categories such as groceries, Tipograph says MikMak is a product that people research more often, such as toys and electronics. Other product categories, such as category, still show strong results.
“It’s not the technology’s fault. It’s because companies don’t want to get along with each other,” Tipgraph said. “Apple said he woke up in 2019 and realized people were building billion-dollar businesses on hardware and wanted a piece of the pie. As you can see, they’ve effectively put ad tech back on track.”
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