Social media has transformed how brands and organizations engage audiences in the past 20 years. But now these platforms are undergoing some very significant changes of their own, driven by rapid developments in artificial intelligence, the rise of disruptive competitors, and ongoing cultural and behavioral shifts. These present a host of challenges and opportunities for the platforms, as well as the brands and organizations that rely on them so heavily to reach and engage target audiences.
For the brands and organizations using these platforms to reach and engage audiences, strategies that worked in the past no longer apply. This report is a collection of trends designed to help marketing and communications teams navigate their way through the shifting social media landscape.
04/09/2024by Nicolas Mendel and Louise Jones
SPENDING ON SPONSORED PARTNERSHIPS ROSE 3X FASTER THAN AD SPENDING IN 2023
Source: eMarketer
With the creator economy estimated to hit $480 billion by 2027, a meaningful creator engagement plan is fundamental to a future-fit social strategy.
For brands and agencies, creators are a more agile and scalable way to play at the forefront of culture, free from unwieldy processes that plague more traditional modes of content delivery.
As creator-led content becomes more integrated, we see its impact spreading across categories, including more unlikely suspects like B2B, healthcare and financial services. Creator commerce will be an ongoing area of innovation in 2024, and its ability to move the needle on sales should not be underestimated.
The impact of #BookTok, #HealthTok, #CleanTok and #BeautyTok on their respective industries says it all, with brands in these arenas designing specific products to woo the creator class and their loyal followers.
This year will see creator partnerships continue their evolution from obvious product placement and staged enthusiasm to more ambitious co-creation between creator and brand, where product is seamlessly integrated.
We predict more brands organising better to take full advantage of the creator opportunity. This could look like hybrid creator-creative teams, in-house creator consultancies, or always-on contracting as opposed to ad hoc campaign projects.
Given the proximity of creators to their audiences, companies that creatively assign main character roles to these personas will win big. Dove’s award-winning ‘Turn Your Back On Bold Glamour’ campaign is a standout example.
Nicolas Mendel is Head of Digital Performance at Ogilvy Sydney.
Louise Jones is the Head of Social at Ogilvy PR in Sydney.
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