The year 2023 brought significant shifts to the social media landscape, and predictions for 2024 indicate even greater changes in how brands interact and operate on these platforms.
Merging TikTok interaction with e-commerce
The rise of e-commerce on TikTok Shop is a powerful force transforming the relationships between consumers, sellers, and content creators. Since September 2023, TikTok has enabled creators to seamlessly integrate product promotions into their content, allowing followers to purchase featured products or services directly.
The rapid adoption of TikTok Shopping, despite initial hesitations in some markets like the US, signals a major shift. Over 200,000 creators are now registered as sellers. TikTok’s streamlined order fulfilment process has proven key to driving sales, making the platform a standout compared to other social media channels.
TikTok Shop as a monetisation channel for creators seeking diversified income streams offers promising opportunities. With a smooth shopping experience and tailored content, this form of e-commerce is likely to continue its growth throughout 2024.
The rise of Social Commerce
While TikTok Shop is making waves, other platforms are also increasingly integrating e-commerce features. Instagram and Facebook have been refining their in-app shopping experiences for years, with Instagram introducing features like “Shoppable Posts” and “Live Shopping.” Additionally, Pinterest has made strides in becoming a major player in social commerce, with its “Shopping Spotlights” and “Pinterest Shop” helping brands reach consumers directly on the platform.
The growing trend of live-stream shopping, already hugely popular in China, is also set to explode globally in 2024. This interactive format, where influencers or brand representatives showcase products live while viewers can purchase in real-time, has gained traction beyond just TikTok. Platforms like Amazon Live and YouTube are also investing heavily in this space, pointing to a broader adoption of real-time, entertainment-driven shopping experiences.
Integration of AI and transformation in content creation
The ubiquitous presence of artificial intelligence (AI) continues to leave its mark on numerous aspects of life, and its role in social media will only grow in 2024. The rise of AI-based content creation tools, such as YouTube’s Dream Screen, enables creators to efficiently add content by simply using prompts.
Additionally, the emergence of AI-generated influencers and post-production content modification tools will provide new promotional avenues for brands and creators alike.
AI-Powered Personalisation at Scale
AI isn’t just transforming content creation; it’s also revolutionising personalisation on social media platforms. With the vast amount of data users generate, AI tools are being used to tailor not just ads, but entire user experiences based on individual preferences. From personalised feeds on Instagram and TikTok to AI-generated recommendations on platforms like YouTube, we’re seeing content being hyper-targeted in ways that maximise engagement.
For instance, Meta’s Advantage+ shopping campaigns use machine learning to automate and optimise ad placements across its suite of platforms, helping brands reach users more effectively. As AI becomes even more sophisticated in 2024, we can expect an increase in predictive analytics being used to anticipate consumer behaviour, thereby creating even more personalised digital experiences.
The shift from copycat features to platform uniqueness
The trend of social media platforms copying each other’s features may slow down in 2024. Instagram, which has long mimicked Snapchat and TikTok’s features, losing its photographic DNA along the way, seems to be undergoing a transformation.
More platforms are realising that merely imitating competitors isn’t enough. Instagram’s strategic focus on improving its IG Direct chat functions and developing channels underscores a shift towards capitalising on unique strengths rather than cloning features. Hopefully, this prediction holds, and Instagram will regain its identity as a visually-led platform.
This trend suggests that platforms will increasingly strive to differentiate themselves to maintain and grow their user bases. Content creators should consider aligning their efforts with the unique strengths of each platform, which will help maximise audience engagement.
The Uncertainty Surrounding Threads
Threads remain something of a mystery—a big question mark for 2024. In the European Union, Meta’s new app debuted just before Christmas, while in EU countries and other markets, many users created profiles out of curiosity and began testing the platform.
In markets where Threads launched in July 2023 (such as the US and UK), the initial excitement and predictions of it being a “Twitter killer” (now X) were followed by a noticeable decline in user engagement. However, recent data indicates a renewed interest in Threads, making it an intriguing player in the social media arena for 2024.
By leveraging its integration with Instagram and Facebook, alongside continuous feature updates, Threads has the potential to regain popularity and challenge the dominance of other platforms. Follow @CallmeJaro TikTok.
The Future of Social Audio and Video
While Threads might be a wildcard in the social media space for 2024, we shouldn’t forget about the potential resurgence of audio-first platforms or even the rise of podcasting and live audio rooms on platforms such as Spotify or LinkedIn Audio Events. Video remains dominant, but audio could become an even more integral part of social media strategies as more professionals and creators seek out alternative formats for connection and engagement.
At the same time, vertical video continues to rule the digital landscape, with platforms like YouTube Shorts, Instagram Reels, and TikTok continuing to dominate user attention. Video-first platforms are racing to enhance their monetisation tools, giving creators more ways to profit from their content, which will be crucial in the competitive creator economy.
Evolution of User-Generated Content (UGC)
The evolution of user-generated content (UGC) signifies a shift, where brands are increasingly collaborating with established content creators to develop advertisements. This trend doesn’t eliminate the role of traditional UGC creators but promotes partnerships that allow brands to leverage the credibility and reach of creators without direct product promotion.
For influencers and UGC creators, identifying opportunities to pivot towards such partnerships could open new revenue streams, while for brands, this offers a more authentic way to connect with audiences.
Personalisation on LinkedIn
LinkedIn’s transformation into a more interactive platform points to a shift towards greater personalisation. Users are encouraged to engage more authentically, moving away from the typically formal and rigid professional content.
This trend leans towards more genuine interactions and posts, which could redefine how professionals use the platform. However, let’s hope LinkedIn doesn’t become overrun with cat and dog photos!
This trend demands a refreshed approach to using LinkedIn, taking advantage of its growing significance in fostering personal connections within professional networks.
Regulatory Impact on Social Media
Another trend to watch is the growing regulatory scrutiny surrounding social media platforms. With increasing concerns about data privacy, misinformation, and the mental health impact of social media, governments worldwide are looking to impose stricter regulations. This could result in platforms having to adapt their algorithms, content policies, and even the ways they handle e-commerce and advertising. For example, the Digital Services Act (DSA) in the European Union aims to impose new obligations on platforms to protect users from harmful content and ensure transparency.
As regulations tighten, platforms may be forced to rethink their growth strategies in certain regions, which could significantly impact both creators and brands.
Conclusion
The social media landscape in 2024 promises further evolution and innovation, compelling content creators and brands to rethink their strategies. The interplay between e-commerce, technological advances such as AI, and the resurgence of certain platforms will shape how engagement, content creation, and interactions between brands and consumers unfold in the digital world.
Of course, these are just New Year’s predictions, and time will soon reveal what the future truly holds.
