Social Media Industry Predictions for 2024: TikTok, Organic Social, Paid Media & Influencer Marketing

This week, the Marketing team at The Social Shepherd has put together all of our social media industry predictions for 2023 together in a series of short video podcasts :)

• A shift in video length: We’ll start to see more longer-form videos on TikTok, but brands will need to ensure they have a strong hook or narrative to keep their audience watching.
• Moving away from trends: Trends will continue to dictate content on the platform, but we’ll see more creators and brands creating their own narratives and styles by stepping out of what’s considered ‘best practice’ & trending.
• High-care production: TikTok will continue to look very organic, but creators and brands will start investing more in the quality of the content. This does not mean high-production clips but a higher care process when creating them.

• Brands will take organic more seriously: Organic Social often gets neglected by brands, but 2023 will be the year when many will realise that it’s a crucial part of a brand’s strategy.
• Focus on specific platforms: Instead of jumping into every available social platform, brands will focus on fewer platforms depending on where their audience is and doubling down on what's working for them.
• Back to ownership: Brands will realign their brand positioning on social and focus on what makes them unique while being native to each platform.
• Stepping away from brand-led content: Consumers want less promotional content and more personal, relatable and genuine content. Therefore, we expect to see the continued growth of UGC-style content, which tends to perform better.

• From Universal Analytics to GA4: Universal Analytics will disappear in July, and why brands should set their GA4 ahead of time to make sure performance will be tracked.
• Sunsetting cookies: The famous cookies will finally vanish, which means a lot of brands losing precious 3rd party data. Therefore, brands should be switching focus on 1st party data instead.
• More automation: After seeing the growth of Google Performance Max and Meta announcing Advantage+ Shopping Campaigns, we expect to see growth in automated targeting campaigns.
• CPC and CPM Inflation: As well as inflation in the economic environment, we predict an increase in CPC and CPM as competition rises on the platforms.

• Follower count will become less relevant: There will be more focus on the content itself as algorithms feed users content it thinks they’ll like. Therefore, the ‘reach’ metric will be more relevant than ‘followers’.
• Exclusive content for core fans: The growth of platforms like OnlyFans and Patreon during 2022 saw platforms such as Instagram & Facebook create spaces where creators can share exclusive content for followers willing to pay for more content.
• Influencer Marketing strategies will become a crucial part of social media: Influencer Marketing has been growing over the last few years, but in 2023, it will become an essential part of social media strategies.
• Influencer fee increase: Considering the cost of living crisis, we predict that influencers will increase their fees when working with brands. However, it’s important to evaluate if the return on investment when working with influencers will be worth it.

Listen to our Co-Founders, Zoe & Jack, go through all the changes that The Social Shepherd experienced in 2022 and their ambitions for 2023.