More Social Media & Influencer Marketing News You Need In January
Chicago has finally made it through the big freeze and that means we’re one step closer to my birthday! This week, we’re looking at how more social media trends are worth knowing in 2024, the rise of long-form video content, and a recent study shows that global media ad spend is going up.
Are you looking for more like covering my favorite social media tools to use, like GoCharlie.ai. Or keys to gaining success with influencer marketing, and more deep dives on other social media or influencer marketing topics.
16 Most Important Social Media Trends for 2024
It's the start of the year, and that means trends are still top of mind. Hootsuite has now shared 16 trends that will be important for advertisers. Here are a couple worth knowing:
Social Media Is Turning Into a Search Engine: If consumers want to learn more about a product or service, Google search results don't always provide genuine results insights from actual consumers. But do you know where you may find a wealth of guidance from real people? That's right: social media.
In 2024 and beyond, social media platforms pose the greatest threat to traditional search engines. TikTok has integrated Google search results into its in-app results, and the platform's Creative Center now includes powerful search capabilities such as Keyword Insights.
Longer Form Content: We've discussed this in the past, but expect longer videos (2-5 minutes) to reappear. First, the major platforms continue to increase their maximum video lengths. Instagram Reels can now last up to 15 minutes, while TikTok is reportedly attempting the same duration (more soon). X (Twitter) also launched its premium service, which allows paid users to upload videos up to two hours long.
TikTok Experiments with 30 Minute Uploads
The app, once known for its 15-second videos reminiscent of the now-defunct Vine, has evolved, increasing the maximum post limit. TikTok is currently experimenting with 30-minute uploads on the beta version of the app, which is similar to the span of a sitcom.
TikTok's ultra-short-form videos initially appealed to viewers with short attention spans and an insatiable demand for material. The post-restriction gradually increased from 60 seconds to 3 minutes, eventually reaching 15 minutes.
So, what does this mean for the content creators? Increased possibilities for monetization. Longer videos provide more options for pre and mid-roll advertising, allowing creators to generate greater cash. This move is especially helpful for creators who previously earned most of their income from longer-form channels such as YouTube.
Global Mobile Ad Spend to Reach $402B in 2024 Fueled by Social & Creators
According to Data.ai's new State of Mobile 2024 report, global mobile ad expenditure will reach $362 billion in 2023, up 8% from the previous year, fueled by revenue from short-form video and video-sharing apps. According to the estimate, mobile ad expenditure will reach $402 billion in 2024, an 11% rise over the previous year.
Which app is leading the charge? None other than TikTok: "In 2024, TikTok stands poised to surpass gaming giants and secure its position as the highest-grossing app in history," said data.ai CEO Theodore Krantz in a statement.
Social apps and the creator economy are also receiving attention for new monetization alternatives outside adverts, with further growth projected in 2024. It is predicted to reach $1.3 billion, a 150% year-over-year rise.
Until next time!
