#124: Social Media For Business: The 7 Best Social Media Trends for 2023

Show Notes

Social media is an integral part of people's lives and daily routines. However, the competition for customer attention is very high. It can be challenging for your business to get noticed unless you have a clear understanding of the platforms and marketing techniques that can help you stand out.
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Come hear Nola Boea and Lori Vajda, the co-hosts of this episode, discuss the top social media trends for 2023 to help you attract your ideal client and expand your small business reach.

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In This Episode You’ll Learn 

• What is personalized content and why is it becoming a major social media trend.
• Although there is platform overlap, it’s crucial to understand where they differentiate in their reach and audience interaction.
• How to take advantage of the analytics and reporting features so you can identify which platforms could offer you the best return in 2023.
• Why it is SO important to tailor your posts and platforms in 2023. 

Key points Lori and Nola are sharing in this episode:
(03:49:67) This is the one exception that makes it worthwhile for small business owners to invest in using social media to reach a larger audience.
(04:56:21) While paid social media can be costly, earned media is a way for first-time entrepreneurs to level the playing field.
(10:35:04) This new trend is helping small business owners sell more products and services. These are the four surprising key benefits of social commerce.
(14:29:33) Ideal for local businesses, this trend is helping owners get noticed and reach more local customers using Instagram.
(22:41:78) This trend explores how to use social media as a search engine.

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Transcript

[00:00:00] Nola: Do you find yourself scrolling through social media for news shopping, social engagement, and entertainment? You're not alone. The vast majority of people turned to different social networks for different reasons, and in the past, companies with larger marketing teams and budgets were able to reach those prospects across all of the varying platforms, making it financially challenging for small businesses even to compete. Until now. That's because as evidence of a recession grows, bigger brands are reducing their spending and marketing budgets, leveling the playing field for solopreneurs.

Stay tuned, listener, because we're sharing why and how you can take advantage of the downturn to showcase your small business. Additionally, learn what other social media trends are predicted for 2023 so you can take advantage of them to reach a larger audience.

[00:00:51] Lori: Welcome to Sticky Brand Lab podcast where we bridge the gap between knowledge and action by providing you with helpful information, tips, and tools from entrepreneurs and other experts so you can quickly and easily jumpstart your side business. We are your hosts. I'm Lori Vajda and this is my co-host, Nola Boea.

[00:01:11] Nola: That's me. Hello there.

[00:01:13] Lori: Hello Nola. How are you? On this fine day, I'm assuming it's a fine day.

[00:01:20] Nola: Yes, it's a peachy fine day.

[00:01:23] Lori: Nola, you and I started talking about this topic earlier because we had noticed some trends happening, and I think I had mentioned during that time as a reminder that when I got started in social media, way back, I can't even believe I'm about to say this way, back in 2009, I was part of a ...I know, I know. I was part of a three-person social media team that we were piloting it for a Fortune 100 company in Florida. Back then, Twitter and Facebook were really in their early stages, very few businesses or businesses were just starting to get into it and using it as a tool. Back then you could post as a business or social and get in your friend's feeds, get in a variety of feeds, all for free. That was considered the good old days. I have air quotes going on. Yeah. Can you believe that?

[00:02:22] Nola: Yep. That was wonderful actually. I was going to say that was crazy. But it's crazy to think that at one point that you could post something and know that everybody was going to see it.

[00:02:32] Lori: Now, let's compare that to today, where roughly 55% of the global population, which is about 4.3 billion people use social media every day.

[00:02:47] Nola: Well, that is a big ocean.

[00:02:51] Lori: It is a big ocean. And that's a great analogy because back in the day you were more of a big fish in a small pond. So your post was seen by a lot of people. Today, think about it like a single dolphin in the ocean. Your post, you can feel like it's major, but when you think about it for an ocean, you're just a small fish in a big pond.

[00:03:18] Nola: It's lost.

[00:03:19] Lori: It is!

[00:03:20] Nola: And as statistics now show, social media today plays a significant role in people's daily lives and purchasing decisions, which is why it's so crowded. And while companies of all sizes can of course use social media to increase their reach, we know that doing so as a team of one, or a small group of people, can be prohibitively expensive. And this is true whether your investment is in time or money.

[00:03:48] Lori: Exactly. And that's why, in my opinion, there's just one except. To it being prohibitive, and that is when it's an economic uncertainty like it is right now. Social media has really evolved and it's far more specialized in how people use it, and this can have a huge impact for how businesses interact with customers and engage with prospective users. So knowing what the projected trends are for 2023 can really help solopreneurs more likely cherry pick where, when and how to use social media in order to reach a larger audience. And that's true, both with paid and organic.

[00:04:34] Nola: Yeah, that's a good point because. In general, people think that the only way to cut through the clutter these days is really to pay your way through paid social media, and that is like through buying ads and boosting posts and things like that. And the trends we're about to discuss today though, focus on shifts we're seeing and hearing about. These trends cover both paid and earned ideas. And if you're not sure what we mean by earned, that's the type of media that well, you earn. Basically, other people are generating content for you and you didn't ask them to. You are not paying them to. For example, somebody might do an at sign and mentioned your brand or they may share your content and do a shout out. All those kind of things that you would love to pay somebody to do that but you didn't ask them to. That is earned media.

[00:05:25] Lori: Because of the changing trends that are currently happening. Earned is a lot easier. And doing it now while big brands are cutting back on budgets and their teams means that you can get out there in the same way or a very similar way that the big businesses do.

[00:05:45] Nola: Cool.

[00:05:45] Lori: So one surprising statistic that I found, and maybe not surprising because we're doing this podcast on the topic, is that marketers are feeling very confident about their return on investment using social media, and that has really come a long way. Hootsuite did the survey and they found that the confidence level rose significantly higher last year from 68% to 83%. Those are big numbers and that in part has to do with the shift that's happening.

So that brings us to the very first trend that we've seen and that the experts are talking about, and that is the rise of a platform specific for branding or for your focus. Okay. So, way to think, consider this is how platforms are used by different audiences are very different. Now we've said that, so what does that actually mean? One mistake to avoid in 2023 is thinking that any content you produce should and can go on every platform. Now, when you're just starting out, out of convenience, Instagram and Facebook are owned by the same corporation, so you can tie your post on Instagram and it'll show up in your Facebook feed. If at all possible, even if you're just a new business, repurpose that content. And here's why.

Today, your potential customers don't only get different types of value from different networks. They explicitly use different platforms and networks for different purposes. So for example, more than 84% of TikTok users. and almost 88% of Twitter users are also on Instagram, but why they're on the platform would be different. On Facebook, they might use it to catch up with friends and family who don't live close by or they don't see very often. On Twitter, that same user might go there and try to capture the headlines for breaking news and then decide which of those articles they want to read further. And on TikTok, they might go there looking for a laugh or searching for the latest viral trend that they would then share on Facebook, or someplace else.

So recycling content becomes a thing of the past. And for you as a business owner, you really want to be more strategic, more creative, and think of unique content for fewer platforms. So Hootsuite had recently done this infographic that showed how someone who is also on multiple platforms might choose different content on the different platforms. For example, if somebody was looking for something funny or entertaining, they might go to Instagram as their first choice. As their second choice, they might go to TikTok and as their third choice, they might go to Pinterest or Facebook. So in other words, it's very unlikely that they would go to those three preferences all in the same time trying to find something funny or entertaining to share.

 And the whole point here is that when you understand that users are getting more specific it gives you some insight as a business owner as to what kinds of content might fit different stages of users, different ages of users, and different preferences. So in 2023, we're really recommending that you narrow down the platforms your brand will be on. And instead of focusing on trying to be on all of them, you get to really hone in, not only on the ones where your customers are, but also the ones you enjoy being on. Because then you're having more fun sharing the information in an appropriate way.

And it kind of reminds me of an article that I just read today, which spoke to the fact that this one big brand, their target audience are young people, like young as in Gen Z and Alpha Gen, which is people born 2013 to 2025. However, their customer base are the parents of those younger kids. So when they send out an email, they're not using in the subject line language that would be better suited for their audience, who would wear their clothes. They're giving subject lines to reference parents. But when they're on Instagram or TikTok, their language that they use is for the audience who's going to be looking at them specifically on that platform.

[00:10:35] Nola: And that is the perfect segue to trend number two. Has to do with social commerce because as you just mentioned, people are shopping online and not just online, they're shopping on the social platforms.

[00:10:49] Lori: This is huge because in the past it was all about getting people from social to your website

[00:10:57] Nola: absolutely. And there was a time when you pressed BUY and then it took people right off the platform, and the platform as a result said, hey, we don't want to drive people to that ad because we lose people on the platform.

And so the advertiser was out of sales and the platform was losing traffic. So the win-win was to put a buy button there and that way, the platform keeps the users on there and the store gets those sales at the same time, so it's seamless. A person can act on their impulses immediately.

[00:11:31] Lori: Seamless is the key.

[00:11:32] Nola: Now, there are four key benefits of social commerce, so if you have something to sell, this is for you. It allows you to get in front of more potential customers, you're able to convert customers right where they are. Also, because it is a social platform, they are going to write reviews and recommendations right there. This is really important if your business is new, because if they haven't heard about you, they're going to want to know what other people know about you. And finally, you can gather useful data on your customer's social habits. So, you are able to now find out which platforms convert the most sales, and you can also use that platform's analytics to find out more about those particular buyers.

[00:12:19] Lori: A third trend that we're seeing is short form content. and one place where this is particularly the case is on LinkedIn. Now, there's still a place for long form content, so for me, short form is under 1500 words. But many people think of short form as being under 2000 words, and that's important to keep in mind as well. You want a mix of both, but as I mentioned, in LinkedIn, LinkedIn is also kind of going through a morphosis, if you will. Once thought of as the place to go look for a job or do networking, more people are again trying to get away from being so corporate, and they're trying to stand out from the crowd, so they're bringing in more memes, more humor, not like the other social networks but consider moving from being in a large business and talking to the C-suite, to being in a large business and talking to your team members. How you engage with your team is much more friendly and social, and how you might engage with the C-Suite, is far more professional.

So here's a tip to keep in mind, and I think this is kind of one of those brilliant ones that ties perfectly well with social. Normally, you write a blog post or you read something, it's in a paragraph form. Well, if you instead make each sentence standalone, so your first sentence, then space, next sentence, then space, next sentence, then space, especially in short form, if you have those spaces in between, what it does for the reader is. It says, here's the line. You've caught my attention. I scroll a little bit, catch the next line, scroll a little bit, and that scrolling behavior lets the algorithm in any social platform know that you're paying attention. It's a win-win, right? Yeah. You're reading something that's captured your attention. The algorithm knows that there's some social engagement happening, so you as the business owner get the benefit of both.

[00:14:29] Nola: Trend number four, target your local audience. Now, while all platforms will help you reach a local audience, Instagram can actually be ideal for your local business. That's because 70% of shoppers look on Instagram for their next purchase and 50% report being more interested in the brand when they see ads for it there.

So here are three ways to be social on Instagram. Posting great images or videos, of course, that's what we think you do on Instagram. But it's not enough. To establish your reputation in the Instagram community, join the conversation of influencers and other brands or even direct competitors. That interaction with the content they're producing will engage with other Instagram users. It lets them know that, hey, you're part of this space as well.

What you want to do locally is to repost local content. When we say local content, that is content that is being produced on social media by, say, local businesses, local communities, local organizations, right? So not only will the content creator feel great that you feature their content on your business page, but their followers will also take notice.

Number two, give a shout out on your Instagram page about other local professionals and businesses. This will help you reach their followers and even more people in your local community. It's a win-win.

Number three, demonstrate your business's local lifestyle. Locals recognize their community, and so include some posts with images of your product in action. This lets local customers envision living that lifestyle by using your product or service.

[00:16:10] Lori: Trend number five. Social media for customer service. Now more people are using social media for customer care situations in part for the reason that you cited earlier, which is people are shopping there. Because they're shopping, they naturally have questions. Whether those questions are, I think I want to buy, I want to know more about this, or I already bought, here's a challenge that I'm having, is anybody else having it? Or, in response to someone else who might have a question about the product or service.

So, Amplify did a survey that highlighted generational platform preferences. For this example. Instagram, 65%. And on TikTok, 51% of the people who use that platform tend to be in a younger age group. Facebook is far more popular with Gen X versus Gen Z, and definitely with baby boomers. So, as I mentioned earlier about the big brand who sells clothing, as a parent, I might be on Facebook looking at that brand's comments and asking questions about a product or a size.

So studies have found that not only do customers turn to social media for research, and purchase products, but they also do it for post-purchase care.
When asked to pick one item that drives positive brand perception, most consumers rated the ability to have 24/7 customer service availability. Quick response time was number two. And while you may not always want to be on social, you at least want to have your notifications on so that when somebody goes and makes the post, you can see it on your phone or in your email feed.

So here's a tip. Communication preferences change with desired outcomes, as well as with age. If I have a complaint, I want it resolved. If I'm a certain age, I'm going to be on a certain platform. So this is something that you as a business owner want to keep at the forefront of your mind.

[00:18:32] Nola: Trend number six, livestream. So livestream refers to the real-time broadcasting of video content over the internet, and it has boomed lately. Now, this is a great way for your business to showcase your products or services in a more authentic and engaging way. So in studies, about a third of internet users have identified live video streams as a type of content, basically, when they're going to social media to watch videos, about a third of them prefer live video, live stream, over any other kind of video content. And 82% in a different study, the respondents said they prefer live video from a brand over their regular social post. You're looking at me really funny.

[00:19:18] Lori: No, no, I, I was looking at you because my first thought was, I wonder why. Why would a customer prefer the live livestream? And then I was kind of answering it in my head, because it's happening in the moment. So for example, a friend of mine has a course starting. And she decided to do her very first live stream on Facebook, which is where her target audience would likely be. And I think she was going to do an "ask me anything" to address questions that would be coming up so more people could hear about it. And my face was more of, oh, that makes perfect sense, because I have a recent experience.

[00:19:58] Nola: Well, one of the biggest developments for live streaming has been the increase of live shopping on Facebook, Instagram, TikTok, and of course YouTube. I would say that is not only just a big deal for doing something new with live streaming, but I think it actually helps expand your reach. And I say that from personal experience because I had somebody show up on my feed that was showcasing their handmade jewelry and clothing items, and they showed up on my feed because a friend of mine was watching. And I don't know what she did, but because she was watching it, I guess she shared it with everybody that she knows. And I saw this product and I'm like, who is this person and what is she showing? And I could have bought something right there, from that site as she displayed it. So this is becoming more and more common. Now, listener, if you're not capitalizing on this trend, you really could be missing out on a great opportunity to engage with your customers and boost your visibility on social media.

Here are three tips for successful social media live streaming. First, you want to promote it as a big moment. So, before the event, when you're scheduling your regular posts, be sure to include information about this upcoming live stream.

Also, start a countdown. So the whole point is to build up hype and anticipation. Now, once you're there, make it timely, or even as you're building up the hype. You want to clearly state why it's urgent, why it's really important that people attend. What is your "why now" message?

Number three. During the event, what you want to do is have a roadmap. Although anything can happen during your livestream, it doesn't mean you shouldn't have a goal of what you want to happen. Especially if you're interacting, it'd be so easy to get sidetracked with comments, so make sure you write down just a few key points that you want to be sure to cover and have those ready before you go live. And that way it'll help you stay on topic. And you can think of it less as a script and more of a roadmap.

[00:22:08] Lori: And if I had to give a good tip for being a good host on a live stream, it would be treat it like somebody was a guest in your home. Ah, they were coming to your home as a party and you wanted to introduce one friend to another friend. How would your tone of voice come across? What words would you use in order to introduce somebody? If you were meeting somebody and getting to know them a little bit better, what would be a follow up question that you would ask? It's again, being a good participant, if you will. And in the case of livestream, it's being a good host.

Our final trend that we're excited is social media as a search engine. And according to Google, more people use platforms such as Instagram and TikTok as a search engine replacing their traditional Google inquiry. So think about if you were looking for a particular product, because I had mentioned as the example TikTok. I might talk about mascara. I might look for where locally I can find that, or what big box brands might carry it so that I could go there.

[00:23:17] Nola: Well, I have a testimonial about that.

[00:23:22] Lori: Do share.

[00:23:23] Nola: I do, yeah. I moved to a rural area that's outside of a small town and I needed to find all of those normal things that you would want to find in a town. Where's the hairdresser? is there only one grocery store? Surely there's a veterinarian. And I would do internet searches. But you know what? In this small town where word of mouth actually is probably the most effective advertising, not everybody had a website. Mm-hmm. And if they did, they weren't really using SEO very well.

So, what I did is I then went to Facebook and I started searching for different vendors or businesses in my town, and I got more results there than I got online. And from those local businesses, they were doing it right. I discovered other businesses because they were promoting each other or just mentioning each other, so it really was through local social media doing the local thing and it was really serving as a search engine, especially in my case.

[00:24:23] Lori: You bring up a really good point. Facebook averages 2 billion searches a day. 83% of Instagram users say it helps them discover new local products and services. But listener, consider this. Go do your own proof of pudding, if you will. Go on the different platform that you like and search for different local businesses. Not only will it help you see what results come up, but it'll help you realize how that business optimized their account on that platform, and you can learn how to do that for your own business on the platform of your choice.

So here's our tip to help you get the most out of that search engine for social platforms. Optimize your profile, but also optimize your content. And you can do this by using keywords for the business description or the product description. You can also put keywords into the caption or your posts. You can post images and videos that reflect those keywords and, although hashtags are popular to use, they're not helpful when it comes to search engine or the search engine style, so they're not going to do much for you.

And finally, we’ll be sharing more ways that you can build an organic following with SEO in upcoming episodes.

[00:25:52] Nola: As a new entrepreneur, you may not have the time, resources, or desire to be proficient at all types of brand promotion. And the same can be true for social media marketing. There are variety of channels available.

Don't make the mistake of trying to be on every single social media platform. Our recommendation is that you focus on creating high quality content for just a few key channels.

[00:26:16] Lori: We'll be sharing more social tips and trends for 2023, be sure to come back and check us out. And remember, starting a business comes with its own set of challenges. So take time to determine if the risks as well as the rewards are right for you. Just don't let your analysis become your paralysis. Be sure to stick around to the very end of this podcast for a fun little surprise.

[00:26:42] Nola: If you found the information we've shared helpful and want more tools, tips, and inspiration delivered to your inbox, sign up for News You Can Use at stickybrandlab.com

[00:26:55] Lori: Be sure to come back next Tuesday and every Tuesday for another informative, inspiring, and motivating episode. And remember, actions create results. So tap into your desire to create a business and brand you love by taking 1% action every day. Small steps, big effects.

[OUT-TAKE]
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[00:27:15] Nola: And our recommendation is that you focus on high quality content for just a Q few, just a Q fee channel.
Uh, nix that out.