Brands have limited budgets for digital marketing – and those budgets have to be stretched across numerous channels.
As marketers, we have to be smart about deciding when and where our time and money should be invested. We all recognise the benefits of social media, but with the biggest platforms becoming increasingly competitive and user acquisition slowing, it’s only natural to look for the next big thing.
With that in mind, we examine the biggest and fastest-growing social platforms and discuss where marketers should be focusing their efforts in the months and years to come.
Which platforms are up-and-coming?
TikTok
TikTok is a video sharing social media platform that has seen rapid growth, with Wallaroo Media reporting that it currently has 800 million monthly active users and the app itself has been downloaded 1.5 billion times. Previously known as Musical.ly, the platform has predominantly seen popularity with the younger generation, however, the platform sees potential to expand its audience age. TikTok sets itself apart from other social media platforms as it’s sole purpose is to entertain rather than socialising and connecting. The app is optimised for discovery and the in-app editing features allows users to easily create the short form videos. Want to find out more about how implementing TikTok ads could help your brand? Get in touch with us now.
Pinterest is a virtual scrapbooking social media platform where users go to become inspired by all things artistic, fueling their interests and hobbies. Pinterest is also a resourceful tool for business marketing, with the ability to create Shoppable Pins, where users can directly make purchases within the app. Pinterest also boasts that it has over 300 million monthly active users.
Houseparty
This live group video chat platform aims to connect users with contacts in their phone via a video group chat. According to TechCrunch, the one million users of the platforms spend 20 million minutes on the app each day and, since the launch of the app to IOS and Android, Sensor Tower reported that the app has been installed 35 million times. Allowing up to eight users on a video chat at the same time, the platform is an upgrade from chat rooms calling itself the “Internet’s Living Room”. Currently Houseparty is working on developments that will allow in-app purchases from other interest based apps such as game apps, according to Mobile Marketer.
Yubo
Yubo is a social networking app that connects people together based on their geographical location. The app’s core purpose is socialising, by allowing users to meet new people, make friends and be a part of an online community. The app is currently the 5th most downloaded social networking app on the IOS app store and since its launch in 2015 has attracted over 20 million users. Ecommerce businesses wanting to attract the younger generation should consider advertising on this social media platform.
Reddit self-proclaims itself as the “front page of the internet”, with over 150,000 communities, and over 168 billion views generated each year, according to MediaKix. The site is a collation of forums on every possible topic, where users can share content. The most impressive factor of Reddit is that 99.98% of its traffic is organic (Statista), which proves just how popular the site is. Many marketers find it a struggle to get started with Reddit, however brands such as Nissan, Lemonade Inc and Spotify have mastered the ability to have a strong presence on the platform.
So which (if any) of these up-and-coming social networks is the platform of the future? The one that marketers can’t afford to ignore if they want to be ahead of the curve?
TikTok by far is the most engaged social media platform in 2020 and as most brands are still getting to grips with the app, there is huge potential for ecommerce and fashion brands to reach their audience through the app. With 800 million monthly active users, it’s hard to deny that this platform is the one to watch.
However, it’s important to not lose focus on the already established social media giants of the internet. Facebook, which owns both Instagram and Whatsapp, is doing a great job at building its empire, but well known platforms such as Twitter, LinkedIn and Snapchat are still receiving a lot of attention from their respective audiences. With the power of paid social, targeting various users on these platforms has never been easier.
Need help with your social media strategy? Struggling to make a big enough return on your investment? We can help! Get in touch with Return today.