5 Social Advertising Trends for 2024

Advancements in technology and evolving consumer behavior are continuously shaping the social media landscape, presenting brands with an opportunity to evolve alongside the consumer to meet brand goals.

Users are no longer looking to social platforms as only a way to connect with friends, but rather as a mechanism for shopping, searching, and enjoying entertainment.

So what should your brand focus their social media strategy on? Keep reading to discover our top five social media trends for 2024 and tips on how to effectively incorporate them into your strategy.

Social Media Trend #1: Growth of Influencer Marketing

Investment in influencer marketing is expected to see strong growth in the next few years due to its effectiveness in building trust and authenticity for your brand. In 2024, there will be an increased focus on leveraging short-form UGC videos, testing out generative AI, and mindfully selecting creators that foster a diverse and representative social media community. 

What You Need to Know:

• According to eMarketer, influencer spend is predicted to grow three times faster than social ads through 2025.
• AI will have a large impact on influencer marketing, with brands being able to work with AI influencers or use AI to quickly find content creators that best suit their brand.
• Live shopping will continue to grow in popularity, providing an immersive and engaging shopping experience for users.

Influencer Marketing Tips:

• Establish clear goals and measurable KPIs before selecting a content creator. For example, if your influencer marketing goal is to drive increased engagement, select a creator that has a loyal and highly engaged audience.
• Collaborate with content creators that align with your brand’s tone and have a follower community with interests that match your product or service offering.

To learn more about tap into creators for your marketing strategy, check out Coegi’s guide to influencer marketing. 

Social Media Trend #2: Paid Subscription Models

Global governments are continuing to hold social platforms accountable for adhering to user privacy regulations. With the increased regulations, social platforms are looking for solutions to maintain an optimal user experience, including offering paid monthly subscriptions for users to opt out of ads. 

What You Need to Know:

• The EU is rolling out the Digital Services Act (DSA) which aims to “create a safer digital space” with full adoption slated for February 17, 2024.
• Paid subscription models aren’t an entirely new concept for social media platforms. Snapchat and Reddit already offer ad-free subscriptions.
• Meta is proposing a $14/month platform subscription to access an ad-free user experience 
• TikTok is testing out a paid subscription service at a $4.99/month cost in an undisclosed market
• X, formerly known as Twitter, is planning to launch a tiered subscription service soon

Paid Subscription Model Tips:

• Influencer marketing is going to become important in a paid subscription model since the content will not be categorized as an ad. Use this time to start honing your influencer marketing strategy to learn what works best for your brand.
• Organic social will be another effective way to reach users in an ad-free environment. Focus your efforts on building your brand’s following across social media platforms and learning what content resonates well with your core audience.
• While the development of paid subscription models is currently focused on the EU market, other markets may follow. Be sure to keep up-to-date on the latest platform releases.

Social Media Trend #3: Generative AI

AI had a large impact on the marketing industry in 2023 and is expected to continue with increased momentum in 2024 as social platforms continue rolling out AI features. From AI chatbots directly integrated within the platforms to audio generation tools, the way users and marketers engage with social media will be in a constant state of change.

What You Need to Know:

• Due to strong user engagement with Snapchat’s My AI, the platform is looking for ways to leverage the chatbot to boost advertising.
• Meta released two Generative AI tools for audio creation – AudioCraft to create audio and music from a text prompt, and Voicebox to assist with editing audio.
• Meta AI is a virtual assistant – including 28 familiar individuals, such as Snoop Dog and Kendall Jenner, that users can interact with across Meta platforms.

Generative AI Tips:

• Generative AI is going to elevate the importance of brand’s maintaining authenticity. As deepfakes and AI assistants circulate across social platforms, users will look to brands to be a source of truth and familiarity.
• Create internal guidelines and policies for the usage of AI to ensure it is being used ethically and responsibly.
• Read our article – Do’s and Don’ts of Using Generative AI for Creative – for more information on how to effectively use AI.

Social Media Trend #4: Social Platforms Utilized as a Search Engine

Social media platforms continue to serve a dual purpose, namely among younger users, to connect and engage with friends and to utilize as a search engine for finding products and services. This shift in consumer behavior should be accounted for when planning your marketing strategy.

What You Need to Know:

• Optimizing your brand’s social profile and social content with relevant keywords to increase your brand’s visibility when users are searching in platform.
• Search Engine Land research found that 51% of Gen Z users prefer using TikTok as a search engine compared to Google.

Social Search Tips:

• Since 99% of users globally utilize their mobile device to access social media platforms, ensure your brand’s site is optimized for mobile usage.
• Leverage SEO to optimize the copy and hashtags in your social creative to increase rank in  search results.
• Utilize keyword research tools, such as Google Trends or Semrush, to research trending topics and keywords to inform your social content strategy.

Social Media Trend #5: AR/VR Advancements

Gone are the days of one-dimensional internet usage as augmented reality (AR) and virtual reality (VR) technology advancements are spurring an “immersive internet.” Users are seeking a more engaging experience across the web and social platforms, giving brands an opportunity to better meet their audiences’ needs and preferences.

What You Need to Know: 

• In a research study conducted by Snapchat, immersion can predict business outcomes with 80% accuracy as a result of immersive experiences tapping into user emotion and capturing attention.
• In a brand lift study conducted by Meta, ads that incorporated AR technology drove a 59% lower cost for driving awareness.

AR/VR Tips:

• Leverage Pinterest Try on product pins to enable users to virtually try on products wherever they are, increasing engagement and attention.
• Meta augmented reality ads create an engaging and unique experience where users test out products and interact with your brand.
• It’s important to keep your brand’s product catalog on social platforms updated so users can virtually engage with your brand and build affinity.

If you want to discuss how to apply these trends and tips to your marketing strategy in 2024, reach out to schedule a discovery call with the team at Coegi.