Social Bakers, a global AI-powered social media marketing company has released the Q3 edition of their social media trends report. The report reveals where the industry is currently standing with regard to spending and engagement globall
Here are the key findings –
While higher costs are not generally a good thing for marketers, in 2020 the rise in global CPC is a welcome sign that things have stabilized and become a bit more predictable. While the spending in digital has returned to pre-pandemic levels, some user behaviors may have changed for the long run, and it’s extremely important for businesses to learn how to create the kind of digital experiences that users now expect.
It’s crucial for marketers to do audience research to see how their particular audience’s habits have changed this year. The data in the report shows that while time spent online has returned to pre-pandemic levels, the time many people are online has changed.
The upcoming quarter is a crucial time for the near future of influencer marketing. Socialbakers data shows that the biggest spike in #ad usage was, predictably, during the holiday season of Q4 2019, but the increase really started in Q3. This year, there wasn’t nearly the same kind of jump, and whether that’s strictly because of the coronavirus pandemic or if it’s a sign of some other marketing strategy change remains to be seen. But we’ll certainly have a clearer picture of where influencer marketing fits into current plans in early 2021.