Our Head of Social Strategy, Sarah Adams, sits down and shares her predictions for paid social in 2024.
1. AI: The rise of intelligent advertising
The use of Artificial Intelligence (AI) in social media is only going to get more advanced and more popular as we move through 2024 so it’s time for retailers to get ahead. Since the launch of the Metaverse, Meta and its suite of apps are continuously updating. The most recent development is the integration of AI solutions, including the introduction of new campaign options and ad set optimisations. These advancements utilise machine learning, enhancing efficiency for performance-focussed advertisers. Dive deeper into the specifics, such as Advantage+ Shopping and innovative text, sound, dimensions and format adoptions in standards campaigns, here.
2. Using social platforms as shopping destinations
Consumer shopping habits have been gradually evolving across social platforms, and with the launch of various shop features, social media is becoming more than just a touchpoint in the shopping journey. Some online retailers have already been building their brands (and revenue stream) on TikTok, and with the re-launch of Meta Shops, we predict that 2024 will see social platforms becoming beginning-to-end shopping destinations.
3. Focussing on UGC (User Generated Content)
Social media is fueled by content, and in 2024, we’ll continue to see authenticity take the spotlight, meaning you need to be creating and publishing content people are craving. Embrace UGC - content created by people, for people, to showcase brands the products users love. Whether through brand representatives or collaborations with content creators, the demand for relatable, lifestyle content is on the rise. Incorporating UGC into your strategy not only resonates with audiences but offers versatile content utilisation opportunities for your brand.
4. Streamline the social shopping experience with shorter purchase pathways
The pathway to purchasing on social media is getting shorter and we predict this will continue throughout 2024 as shopping habits evolve. Pinterests’s latest changes reflect this trend, aiming to drive high-intent users directly to websites faster with Direct to Site ads and Outbound Click options. This eliminates the traditional close-up imager, guiding pinners directly to the selected landing page. Remarkably, 85% of advertisers adopting this solution are already reporting a 25% decrease in cost per outbound click.
In summary, get ready for a year brimming with innovation, authenticity, and exciting advertising possibilities within paid social.
