Have you ever heard of Matt Navarra? He’s a UK-based social media consultant and geek. Matt founded the Facebook Group, “The Social Media Geekout,” with more than 25,000 members. He is also the Social Media Director of TNW, a digital media agency that connects and inspires people all over the world. Matt became famous for being a social media leaker. Typically, he would tweet the latest features and tools that most social media giants are experimenting with. These include Facebook, Instagram, Pinterest, Snapchat, and Twitter. He also keeps a watch on messaging apps like Messenger and WhatsApp. So, if you want to know the latest trends in social media, Matt is the person you should follow.
Matt works as a freelance social media consultant for BBC, Lloyds Banking Group, Pinterest, Sainsbury’s, the UK government, and the United Nations. These are well-known organizations with large social media followings. He also helps top brands in refining their social media marketing strategies. Recently, Social Media Today, an online community of digital marketers, gets the chance to interview Matt. During the interview, Matt was able to answer questions about the key social media trends today and where things can head now. Below is a transcript of the three key trends in social media according to Matt Navarra.
SOCIAL SHOPPING
Matt Navarra ranks social shopping as the top key trend in social media today. A social media agency Hong Kong agrees with Matt that it is the most important element to grow in digital marketing.
Facebook and Instagram have made a big step to social commerce, through digital Shops. It features branded content, product tags, live shopping, etc. A range of similar developments was also made by Pinterest, Snapchat, and TikTok. Pinterest introduced product catalogs and pins. Snapchat rolled out branded AR filters and lenses, equipped with an eCommerce link. While TikTok is currently testing TikTok Shops.
Social apps have largely conquered the scene of online shopping. Matt has noted that their new features and tools open up new marketing potentials among brands and businesses. They have also revolutionized the way people shop today. Gone are the days where people had to visit physical stores. A major percentage of consumers today have shifted to online shopping.
Matt noted that the only downside of social shopping is too much reliance on social media networks. Although they give a great return on investment (ROI), brands and businesses still need to explore other marketing channels. It is because social media is constantly changing. Their updated guidelines and policies may eventually affect marketing analytics. If a brand or business depends solely on these pieces of information, they will then get stuck in Facebook, Instagram, Twitter, etc.
CREATOR ECONOMY
Another key social media trend, according to Matt, is the creator economy. Most people who earned fame in social media are now eyeing to monetize their content on different social media platforms. Facebook has launched the “Stars” feature to help fans support their favorite creators via tipping. Twitter has introduced Twitter Blue, its first-ever paid subscription. YouTube has also rolled up a new addition to its Supes Family – “Super Thanks.” It is also a tipping feature to earn badges and stickers.
To retain the best talent, different social media networks have initiated creator funding. It is a bonus program to entice creators in publishing engaging and unique content. Facebook allotted $1 billion creator funding that expands and evolves per season. Snapchat has also offered $1 million a day for Spotlight creators. YouTube has also dedicated a $1 million fund for Shorts creators. Shorts are 15-second video clips similar to TikTok. It is the latest short clips addition to the video-sharing platform.
The question with the creator economy is how many people are willing to pay just to follow their favorite creators. Plus, how much are they willing to spend to support them? A digital marketing speaker Hong Kong answers the question that the key to success lies in choosing the right social media platform that will offer a sustainable revenue option. Within the next 12 months, it is a matter of race between the social media giants.
AUGMENTED REALITY
Matt included augmented reality (AR) as another key trend in social media today. AR is a precursor of virtual reality (VR). A video marketing agency Hong Kong highlights the main difference between the two as AR using real-world settings while VR uses computer-simulated dimensions.
Matt has noted that we’ve only just started the AR revolution in social media marketing. Facebook is currently developing AR glasses and hats. Pinterest spearheaded AR try-ons on makeups. Snapchat recently applied for the patent of bitmoji fashion. It is an AR try-on for clothes and fashion. Even Google Maps have also integrated advanced AR tools to give a different online shopping experience.
Matt sees more social media platforms focusing on the AR trend. The limitation may be technical expertise and technology. But social media teams will continuously innovate to give a better shopping experience and connect brands and businesses with people all over the world.