Victor Potrel is VP of Content Distribution at TheSoul Publishing, a leading digital media studio that creates positive original content.
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As we enter 2023, the social media landscape is expected to undergo significant changes in how platforms monetize content and how brands interact with consumers. With this in mind, publishers and creators must stay ahead of the curve by understanding the trends shaping the industry in the coming year.
Inspired from conversations with other leaders in the industry and at my company, here are my insights into the top social media trends for 2023 and how publishers can leverage these to their advantage.
1. Shared viewing experiences will become more widespread.
Consumer viewing habits are shifting, and one way social media platforms may respond is by seeking partnerships to drive reach and revenue on additional surfaces. According to one survey, shared viewing experiences, such as watching YouTube content on TV, are already a growing trend, especially among families. The survey also found that these shared experiences are a way for parents and children to bond while encouraging the development of digital skills.
Publishers can leverage this trend by seeking partnerships and collaborations with streaming platforms and mobile providers. For example, a publisher could create a YouTube channel optimized for TV viewing, focusing on family-friendly content.
2. Short-form content will remain popular.
The race to monetize short-form content is likely to kick into high gear in 2023. Whoever offers creators the best deal will win the day.
Short-form content, such as 15-second videos on TikTok and YouTube Shorts, has proven to be highly engaging for audiences and creators alike. In 2022, YouTube announced that it would be making Shorts eligible for monetization starting in 2023, which opens up new opportunities for creators to earn money from their content. This, coupled with the potential changes to TikTok’s monetization strategy, will likely result in creators moving toward platforms that offer the most generous monetization options.
In light of this trend, publishers should focus on creating and publishing short-form content across various platforms. They should also stay informed about the latest changes to platform monetization policies and adapt their content strategies accordingly.
3. Virtual influencers will become more prominent in brands’ marketing campaigns.
I believe we will see more integration between social media, music and gaming in 2023 and beyond. This will generate various new opportunities for virtual influencers within decentralized media.
In other words, as technology advances, the use of virtual influencers will likely become a popular marketing strategy for brands. The market for influencer marketing continues to grow rapidly, with some experts predicting its value will double between 2020 and 2025.
To remain relevant and effectively reach Gen Z audiences, many brands are already tapping traditional human influencers, and in 2023 they should explore the potential return on investment (ROI) of working with virtual influencers. These computer-generated characters interact with consumers across social media and within the metaverse. They have already proven effective at driving purchases, with 40% of sales from virtual influencer promotions coming from Gen Z or millennial consumers.
4. New advertising approaches will be embraced.
We are on the cusp of a new phase for platforms and creators alike in how products are advertised—and 2023 will determine what they will be in the next few years.
As platforms compete for content creators, new opportunities for brands to advertise on social media will present themselves. We will evolve from existing models, with a renewed focus on innovative ways to reach and engage with consumers.
One example is the rise of social commerce, which allows consumers to purchase products directly from social media platforms. Platforms like Instagram and TikTok have already introduced features that will enable brands to tag products in posts and stories, making it easy for consumers to purchase without leaving the platform. In 2023, we can expect to see more brands experimenting with this feature and driving direct sales.
Another example is the use of virtual reality (VR) to create more immersive shopping experiences. Brands are exploring using VR fitting rooms and metaverse catwalks to allow consumers to try on clothes and interact with products in a virtual environment. As the demand for personalized shopping experiences grows, I expect more brands to experiment with this technology in 2023.
Publishers can stay ahead of the curve by experimenting with new advertising models and finding ways to integrate products into their content. This can be anything from a fashion blogger creating a YouTube video showcasing a virtual fitting room to a travel influencer creating Instagram posts that allow viewers to book their next vacation directly from the post.
Conclusion
Overall, as we head into 2023, it’s clear that technology is rapidly evolving, and brands willing to take risks and experiment with new technologies will be better positioned to capitalize on the opportunities this evolution presents. That’s particularly true within Gen Z and gaming communities, who are paving the way for new platform experiences and technologies.
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