The 2020 is here and we make sure you have on hand the social media trends for this year. Furthering you will read the most innovating trends coming to Social Media and those running already.
Facebook will launch “Libra” cryptocurrency in 2020
Facebook is planning to launch its own cryptocurrency in 2020, allowing users to make digital payments in a dozen countries. The currency, dubbed Libra, would enable Facebook’s users to change dollars and other international currencies into its digital coins which can then be used to buy things on the internet and in shops/other outlets, or transfer money without needing a bank account.
Zuckerberg has reportedly met with the governor of the Bank of England, U.S. Treasury officials and money transfer firms such as Western Union, to develop cheap, safe ways for people to send and receive money. In order to try and stabilize the digital currency, the company is looking to peg its value to a basket of established currencies like the U.S. dollar, the euro and the Japanese yen. It’s also looking at paying users fractions of a coin for activities such as viewing ads or interacting with content related to online shopping, similar to retailers’ loyalty schemes.
To sum up, Facebook knows that 7% of those who have visited Facebook in the last month have a cryptocurrency investment. So, while this kind of digital money is becoming popular, no one in the industry wants to stay apart.
Telegram rising up
Since Mark Zuckerberg said they were planning a technical integration of Facebook Messenger, Instagram and WhatsApp. The popularity and increased growth of Telegram has exploded. As a result of privacy concerns around Facebook brand and security issues, a great slice of the cake is going to Telegram in the Messaging platforms. Also, if Facebook allows people to communicate across their platforms sharing the same underlying structure. Will users feel the need to own all three separately?
As an all-in-one messaging, social media and e-commerce platform, Telegram has been growing in popularity, especially in the Middle East and Africa. It is a platform perfectly positioned to capture a whole new generation of users growing up in a completely digital lifestyle, pitching privacy and favoring cryptocurrency features.
WhatsApp won’t be Ads-Free anymore
Facebook has confirmed that WhatsApp will introduce ads to its messaging app this year. Although not all users will be happy with the new feature, Facebook confirmed it at its annual Facebook Marketing Summit in the Netherlands.
The ads will take up the entire screen of a smartphone and allow users to find out more information about the advertiser by swiping up. When WhatsApp first launched, its creators promised it would not sell its users’ data. But, that changed when Facebook acquired the messaging service in 2014 for $19 billion. With 60% of internet users using the service on a monthly basis, they will try to generate extra revenue.
An study confirmed that 42% of WhatsApp users agree they tend to buy brands they see advertised. But 26% say they use an ad-blocker because too many ads are annoying or irrelevant
You smell the 5G. It’s here
The connection speed will revolutionize the technology as we know it. 5G is here and promises speeds up to 20x faster than 4G. In fact, this will improve the smartphones capabilities or other connected device. It will enhance the quality, speed and predictability of mobile entertainment. So, will open up opportunities to streaming games online on mobile.
In theory, 5G will be able to simultaneously support more than a million devices per sq km. This is a big jump over the 60,000-odd devices that 4G max out at.
This advance on connectivity will change a lot of things. To clarify, the IoT will jump to another level of uses being more efficient for consumers and predictable. Secondly, the video advertising could boost on social news feeds. Also the location based tools, AR filters and 4K videos will move to the core of social ads offerings.
Just to know, 37% of consumers in the US and UK say they will switch to 5G as soon as it’s available.
Turning to TikTok
This Social Media platform is a video-sharing social networking service owned by ByteDance, a Beijing-based company founded in 2012. It is used to create short lip-sync, comedy, and talent videos. The app was launched in 2017 for iOS and Android for markets outside of China.
TikTok is one of the most popular and most interesting social media apps on the planet. And is growing exponentially in America between the Gen Z. It’s a youngest app conquering 41% of teens (16-24s) of the world, but that can change soon.
TikTok has 500 million active users worldwide. That makes TikTok 9th in terms of social networks sites, ahead of well known sites such as LinkedIn, Twitter, Pinterest, and Snapchat. It was the third most downloaded app in 2019 Q1 with 188 million new users, growing 70% from Q1 of 2018. Also, it was the most downloaded app on the Apple Store in the Q1 of 2019 with 33 million downloads.
Advised, if your business is based on videos you must check TikTok out.
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This year almost finishing has some data you may need to know for your business. The 2019 showed an increment in social media use and the trend is similar for the next year. Further, we will split the statistics of social media and what it can mean for your business in 2020.
Screen Time Tracking
One of the biggest problems with social nowadays is the time consumed on these platforms. In other words, 6 in 10 global internet users say that they are constantly connected online.
That’s why some companies have begun to focus on the way to improve the the digital wellbeing of people through tools that helps to take control of their time.
Google’s Digital Wellbeing features provide analysis on a user’s screen time usage. Android users can set app time limits so as not to spend too long in one particular app, whilst Google Pixel phone owners can use the Wind Down feature to reduce the screen’s blue light before going to bed. Apple offers similar functions with its Screen Time feature since iOS 12, as do Facebook (‘Your Time on Facebook’) and Instagram (‘Your Activity’).
Globally, digital consumers are now spending an average of 2 hours and 23 minutes per day on social networks and messaging. A look at the trended data here suggests that we might be approaching saturation in social media consumption.
Across the globe, 16-24s are devoting the most time per day to social media – just under three hours, on average. The importance of messaging apps to this demographic is a key reason behind this, as is the centrality of smartphones to their digital lives. Additionally, it is important to note that this consumption is simultaneous rather than sequential; 72% of 16-24s say they use social media while they are watching TV.
Consequently, time spent on Social Media platforms is steady because of the Time Tracking tools, helping to stay connected but not addicted.
Social Media Motivations
It’s time to know what make people turn the face around Social Media. And is because the role that Social Media plays in the lives of its users has evolved.
While people find Social Media to follow the news and current events with a 40% saying that, and to keep contact with friends in second place with a 39%. Entertainment plays a key role on engaging consumers of social media and it’s showing a great growth in the last years. As a result of being the top motivation among 16-24S.
With Generation Z and millennials showing less interest in other people’s updates – and the growing desire to extricate themselves from the social aspects of social media. Social media as an entertainment hub will likely become the dominant form of engagement across the most widely used open platforms.
Create entertaining content to engage prospects is right know a must have for every business. To clarify, entertaining is a key factor to Attract, Engage and Delight the customers.
Now, what platform is winning?
Globally, Facebook remains as the 1st place followed by YouTube on number of members. Although, if you take a close look at the graphic YouTube has a 85% of people that have visited or used the service, so is the 1st in this aspect.
Among market shares Facebook retains members despite the privacy and security concerns about theirs services in 2018 and great part of 2019. The company of Mark Zuckerberg has Facebook, Messenger, WhatsApp, and Instagram inside the top 10. Also, the company stock value has increased a 53.76% since December of 2018.
Snapchat has a considerable presence in North America, particularly among Gen Z, where 61% use it on a monthly basis.
The Social Purchase Journey
Putting items and services on sale through Social apps is a goal that remains difficult for buyers and vendors. The fact is that now is possible to buy something while using a Social Platform. However, the steps to make the final purchase is a bit difficult and untrusted among users.
Social commerce has the potential to improve and grow in the next years. Therefore, it’s seen as a potential to be a major revenue generator. But social commerce has been a tough sell in many Western markets. Online consumer habits here can be difficult to change, especially when it comes to the potentially sensitive information involved in financial transactions.
Lets see what consumers are doing in this graphic.
We can see here, that the biggest impact of Social Media on the purchase Journey is to research products and to discover brands or products. The consumer mindset is still attached to retail sites. But, this can change in the next year with the most important platforms involving into this area.
Moreover we will share with you the Trends for the next year on social media and we will update this post with new current data. Please, keep informed with us.
If you need help with your Social Media profiles we do Social Media Management for small business. Don’t hesitate to talk with us.