L24: Where to Invest in Social in 2024 (and Beyond)?

L24 Where to Invest in Social Media 2024 and Beyond Localogy

Instagram,  YouTube, TikTok,  influencer marketing… Which are ascendant, and which are so yesterday in social media in 2024 and beyond? Which platforms are we not talking about, but should be? A power panel of social media thought leaders from Birdeye, SOCi and Hummingbirds unpacks it all.

Key Takeaways
  • TikTok seems to get all the attention in the tech press, but it’s getting disproportionately low SMB activity, in terms of SMBs using it for social marketing.
  • There are definitely lots of SMBs on TikTok so it’s anecdotally an SMB success… but the aggregate numbers tell a different story. Those SMBs we see on TikTok are a vocal (and successful) minority.
  • One reason the aggregate SMB numbers are lower on TikTok is that it’s very challenging to create TikTok-native content. SMBs can’t just repurpose other video or assets… it has to be deliberate and native.
  • TikTok is also relatively new so SMBs haven’t migrated en masse (they tend to move slow overall), versus more established media such as Google, Facebook, Instagram et. all.
  • Users are a different story. An entire generation of users are being acclimated to TikTok, not to mention Snapchat and a few others, in terms of being on camera and expressing their viewpoints. A subset of those viewpoints are about SMBs such as restaurants. Could this be the new form of restaurant reviews that takes over?
  • As for all the other social channels, it will continue to be a moving target and users will lead the way. They will self-select based on their preferences and trends. Brands and SMBs will always have to shift gears depending on how those trends develop.
  • One challenge for SMB activity on TikTok is creation. TikTok makes it easy with its in-app editing functions, so other social channels can take a lesson from that in democratizing the creation process.

Where to Invest in Social in 2024 (and Beyond)?

Deepak Bahree, Birdeye
Damian Rollison, Soci
Emily Steele, Hummingbirds

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