INDUSTRY NEWS
The year is coming to an end and there is quite a bit to unpack. Leveraging platform reports, detailed user data, and real-world experience, we’ve broken down the most impactful and course-altering platform developments that shaped 2023. Without further ado, let’s dive in!
By Jess Phillips, Chief Executive Officer, The Social Standard
Starting with the platform that has carved a path to follow, we’ve seen tremendous growth on TikTok. Not only in terms of native, seamless content creation but also for brand utility. TikTok was, and is still, the breeding ground for the trends that shaped 2023. Girl Dinner, Roman Empire, McD’s Grimace Shake, Wes Anderson, and the Cheese Tax, to name several, collectively fueled creator content and brand-decision making. Niche communities flourished, regular people achieved virality, and brands realized the impact of organic, earned media. TikTok will certainly retain its resourcefulness as the virality engine. Brands will continue to harness its power. And consumers will continue spending hours daily browsing an endless supply of content.
Check out the full recap here.
This past year, Instagram was a close second when it came to vertical video. User data suggests the app is steadily growing by the number of those active daily. With creators cross-promoting content, the platform is still flourishing as a means to repurpose content or reach a different audience. The main difference between TT and IG is that much of Instagram’s utility is for driving awareness. Whereas TikTok is aimed toward lower funnel activity, driving more shipping behavior. IG’s leg up continues to be its static photo DNA. Beauty, fashion, food, music, and general lifestyle content all prospered collectively yet independently.
Check out the full recap here.
Being the second most visited website in the world, YouTube’s main focus was still on long-form content. Long-from content is making its comeback across the board, especially as it relates to edutainment. With a spike in intricate software, technical products, and expanding market diversity, education is becoming a priority to consumers when making purchasing decisions. However, we saw several notable changes to the platform’s short-form delivery. YouTube shorts have served as a tool to convert users to longer-form content. TikTok, for reference, updated their monetization structure to favor longer-form content. Luckily for YouTube, that is their bread and butter.
Check out the full recap here.
Snapchat is an interesting case to look at. Contrary to popular belief, user numbers are steadily growing. This past year, we saw many influencers move to Snapchat’s Spotlight Discover page. Their monetization structure is proving lucrative for high-performing creators, and content seems to serve as a lens into the lives of your favorite influencers. At its core, Snapchat remains a place for conversations. Group chats, DM’s, and Stories are its primary pillars. Yet, the platform simultaneously integrates influencer activity to a more intimate degree than others on this list. The ability to interact with content and the story reply highlight feature continues to capture user engagement and deepen connections.
Check out the full recap here.
While the new Twitter is currently facing some challenges and pushing controversial narratives, there’s not much to be said here. Ad-free users are no longer easily targetable and non-paying users are being forced off the platform. While the direction X is headed in is still unknown, we should lay the platform on the back burner as new updates and features roll out.
We’ll blame the mid-year acquisition for the missing trend report.
Nearly half of the world is active across Meta’s suite of platforms. Facebook still dominates in that regard. We’ve seen more vertical video and syndicated content appear on the platform. The main differentiator here is the age distribution, with most users between 25-34 and leaning toward a more “mature” archetype. Meta launched threads this past year which now directly competes with X. As more features roll out, the toolset becomes better optimized for creators and brands. While functionality is minimal when compared to its siblings, Threads offers a fresh take on text-based social.
Check out the full, all-encompassing trend report here.
Pinterest has continued to serve as the go-to resource for inspiration and pre/post-purchasing validation. Earlier in the year, we saw the platform add a suite of new updates and ad solutions. With a delectable UI, tried-and-true search functionality, and unique positioning, Pinterest has continued to be a landing zone for searching and shopping. As far as platform trends go, we agree that their 2023 predictions mostly panned out accurately.
Here is what is expected for next year.
LinkedIn has exploded in popularity this past year. We are seeing more and more young professionals actively using the platform to connect, learn, and grow. LinkedIn’s addition of brand partnership tools has put them on the map for decision makers, creators, and consumers. B2B influencer marketing is booming right now, influencers are emerging, and brands are taking notice.
No trend report came out of LinkedIn this year.
Over the course of the year, we saw thousands of brands make their way to social media, personalities rise, and countless trends shape our social behaviors. 2023 was a revolutionary year for social media with the introduction and commoditization of AI, more users online than ever before, and online conversations at their highest. With all that said, one thing is for certain: We grew with the times, adapted to the changes, and continued to set the standard.
Interested in setting the standard with your influencer campaigns in 2024? Let’s start a conversation! Email us at partner@sostandard.com and subscribe to “The Social Brew,” our industry-leading newsletter to stay on top of trends, updates, and social media coverage.
