The social media landscape is like a city where the skyline changes constantly. Every year all major platforms compete to be the tallest skyscraper while new buildings sprout while others crumble. In this blog, we will look at three major social media platforms and see where they stand as we go into 2023.
Twitter has been in the news a lot lately, with the recent takeover of the app by Elon Musk. Major layoffs have left the company operating with drastically reduced staff, and some are warning that the app could crash under this increased strain. If Twitter can withstand this chaotic transitional period, what will the app look like in 2023?
Musk has laid out some big plans for the social platform, like moving to a subscription model. Twitter recently introduced Twitter Blue, a premium subscription service that grants users the coveted blue checkmark that once signaled a verified account. Users with a blue checkmark will receive priority in notifications and can unlock premium features like “Edit Tweet.”
To attract creators to the platform, Twitter offers several features for users to monetize their Tweets. The Subscriptions program allows users to subscribe to select creators and receive exclusive content, similar to platforms like Patreon or Substack. Writers and journalists can also connect with their readers by launching a newsletter with Revue on Twitter.
While Twitter has always led with short-form text content, the platform continues to lean into the audio space with the Spaces feature. Twitter Spaces are live voice chats that are open to the public. Hosts can invite up to 13 people to speak in a Space, while anyone can join as a listener. Listeners can also request permission from the host to speak. Apps like Clubhouse have capitalized on the popularity of live audio chat rooms, and Twitter has the potential to take this concept even further.
META
Since changing the name of its parent company from Facebook to Meta in October 2021, this was a year of considerable change for the social media giant. The Meta corporation has gone all in on the metaverse, pioneering virtual and augmented reality experiences for users and brands. Meanwhile, Facebook is facing somewhat of an identity crisis.
Facebook, in many ways, was the first true social network, connecting real-life friends, family, classmates, and colleagues. Over the last few years, it has tried to reinvent itself as a news site, commerce platform, and video streaming service. Now Facebook is doubling down on short-form video content to retain users. Instagram, which was once a simple photo-sharing app, is now crowded with Reels, Stories, and Shops.
Taking cues from TikTok, the Facebook and Instagram algorithms are beginning to show more recommended content in the Feed. That means users will see fewer updates from friends and more content from users and brands they do not follow. The opportunity to possibly help deliver more relevant content to users while giving brands and creators a higher potential for organic reach and exposure beyond their existing audiences.
However, this shift could alienate Facebook users whose sole purpose is checking in on friends and family or interacting in groups. Many Instagram users, including some of the app’s most high-profile creators and influencers, have expressed frustration with the shift to AI-generated posts, causing Meta to walk back some changes. Will Meta continue to chase TikTok’s success by altering its content recommendation system? Or will the platform marry the two and allow users to prioritize family and friends updates?
TIKTOK
TikTok is one of our most talked about social apps of 2022 (check out our Automotive Marketer’s Guide to TikTok!) and remains the fastest-growing social media platform.
Now is the time to jump in for creators and brands looking to get started on the app. Part of what sets TikTok apart from other social platforms is its content recommendation algorithm which prioritizes videos based on their relevance to a user’s interests rather than their popularity. Creating a highly personalized user experience on the app’s “For You” page gives creators significant potential for organic reach. Whether you have 10 or 10,000 followers, your video has the same opportunity to end up on someone else’s For You page.
TikTok’s skyrocketing popularity has not been without controversy. The app has come close to being banned in the United States due to concerns over data privacy. The popular platform reached an agreement with Oracle to store U.S. users’ data separately from its Chinese parent company ByteDance. While a proactive first step that allowed the company to avoid becoming banned, we expect TikTok to remain under scrutiny from lawmakers, advertisers, and the wider public. The United States is now TikTok’s largest market, and for them to succeed and be fully embraced, they must maintain users’ trust that their data is not misused.
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Predicting the future of these platforms can be difficult, especially since the social media landscape is ever-evolving.
For users, brands, and creators alike, we do not recommend placing all your eggs in one basket, especially when it comes to social media. Because when one platform falls in popularity, another will rise and take its place. We emphasize diversifying and branching out into more than one social platform. Having a multi-channel presence on social media will help you to be more resilient and adaptive as these changes inevitably occur.
To learn more about new Social Media Advertising strategies in 2023, continue to follow the PCG Digital blog.
Chloe McGinley
Drive Your Meta Advertising Strategy Using Conversational Commerce
