Social media has turned into a source of inspiration, entertainment, and news. It has also become one of the most effective digital marketing channels, with most companies embracing the power of social than ever before. As the
continues to soar and consumer shopping behavior is increasingly impacted by the likes of Instagram and TikTok, marketers vividly leverage these networks’ drawing power for promotion. In 2023,
stood at approximately 270 billion U.S. dollars, with the expenditure expected to surpass the 300-billion-dollar mark by 2024. And while the United States remains the
globally, marketers from other countries are not getting off the social media train.
The new mainstream: social media as a shopping channel
According to a recent survey, social media was
the leading marketing channel with the vast majority of industry specialists using it as part of their digital campaigns in 2023. Moreover, marketing experts listed the main benefits of social media to be increased exposure, traffic, and lead generation. Direct communication between brands and consumers was another advantage. As of mid-2023, the
average global online shopping order value that stemmed from social media platforms reached 87.5 billion dollars. While this figure was significantly lower than the order value referred from search or e-mail, its growth highlights the vast potential of social media as a commercial playing field. Brand discovery and social media shopping are expected to become even more mainstream in the future.
Humans and clicks: trust and shopping on social media
Facebook was picked as the
leading social media platform for marketing in 2023. About 90 percent of surveyed marketing experts stated that they used it for promotional purposes, which comes as no surprise, considering Facebook’s extensive global user base. Similarly, Instagram has turned into a lucrative marketing destination. The Meta-owned app allows businesses to promote their products and services through various formats, ranging from photos and tags to Stories and Reels. Users can easily be forwarded to brand websites or an integrated shopping tab, highlighting the platform’s increased focus on brand cooperation. Instagram has also propelled the influencer marketing movement, with more creators now partnering with brands than ever before. That said, an ever-increasing share of companies also turns towards
TikTok to boost brand exposure and tap into current short-video trends. Increasingly,
influencer posts on social media engage users more than regular ads, so the segment is expected to keep reaching even higher success rates.
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