Marketers are looking to increase marketing investment in emerging social media channels, such as TikTok, and away from old channels such as Twitter and Snapchat
While traditional digital giants including Instagram YouTube and Facebook still take the large majority share, there does appear to be evidence marketers and are willing to try the newer channels, particularly when targeting a younger audience.
Tiktok was the third-most-installed app worldwide in the first quarter of 2019, behind WhatsApp and Facebook Messenger, and surpassed Instagram and Snapchat to be the leading short video application with 500 million monthly active users. The analyst firm added TikTok is fertile ground for brands to launch low-cost viral marketing campaigns. Tiktok in 2020 is also the platform where you can get the most effective organic reach.
Instagram and Facebook will see an increase in spending in the coming year, with a large majority of surveyed executives saying their investment will increase. YouTube is also expected to see an increase in spending.
In June’s edition of WARC’s Global Ad Trends, it was found ad growth in the social and messaging sector had halved over the year. WARC’s Marketer’s Toolkit found one in five marketers intends to reduce spend on Facebook in 2020, with Twitter and Snapchat also facing the prospect of muted revenue growth. This could be a signal of a changing of the guard; Americans aged 13 to 16 years-old are already using TikTok more than they are Facebook and Twitter.
This cooling in growth comes at a time when trust in information on social media reached new lows and calls for greater regulation for tech and social media companies grow louder.
With the increased investment in online video and digital channels including YouTube and TikTok, marketers are clearly aware of consumers’ love for video. As such, live video is an emerging technology. Contact us