Last updated on November 8, 2020
2020 Predictions for Social Media: What platforms are right for your brand?
Social media marketing is a necessity in your brand marketing and everyone is using it. Facebook alone has 89% of marketers on the platform for their brand marketing efforts. But are consumers still engaging? Are certain platforms more favourable than others?
While Facebook holds strong amongst the platforms for the most demographic groups, they lag behind Instagram when it comes to younger groups, specifically Gen Z.
We asked our 9,000 Canadian panel directly what platforms they use the most – here’s the goods:
Facebook holds strong amongst other social media platforms
- 65% of Baby Boomers use Facebook the most
- 50% of Millennials use Facebook the most
- 67% of Gen Xers use Facebook the most
Instagram has a strong hold on younger social media users
- 34% of Gen Z members report using Instagram the most
So what are the projections for 2020?
Instagram Continues to Rise
Are Canadians starting to realize that the book of faces is starting to become the book of advertisements? Despite most survey demographics saying they use Facebook the most now, 2020 projections look more towards Instagram as the popular social platform.
- 42% of Gen Z’ers think Instagram will be most popular in 2020
- 43% of Millennials think Instagram will be most popular in 2020
- 32% of Gen X’ers think Instagram will be most popular in 2020
- 38% of Baby Boomers think Facebook will be most popular in 2020
New Platforms will Emerge
Amongst Instagram and Facebook taking the No. 1 and No. 2 spot for 2020 projections, “Something new” took the No. 3 spot.
15% of members agreed that a new social platform could become popular in 2020. Additionally, Boomers (19%) and Gen X’ers (17%) over-indexed in this insight.
New Platforms: What Are They?
If you want to take the traditional route, then, by all means, use Facebook or Instagram. But if you want to get ahead of the curb here are some social media platforms we suggest for your brand marketing in 2020.
Social Platform No. 1 – Lasso
Are you looking to reach your Facebook user base but aren’t gaining much engagement in the oversaturated platform? Give Lasso a shot!
Lasso is a similar platform to TikTok where users can upload short videos with filters and music overlays.
The pro: Lasso is owned by Facebook which means you could leverage Facebook members to follow your Lasso account.
The con: the audience on Lasso is still rather small so gaining tracking may take awhile. But hey – they early bird gets the worm!
Those who are looking to market their brand in a creative and entertaining way, Lasso might be the app to tie your audience into.
Social Platform No 2. – Vero
Are Instagram algorithms and data mining getting in the way of your social reach? Then Vero might be the next best thing.
This social platform is similar to Instagram in which users can share content such as photos, music and videos.
The pro: Vero doesn’t use any data mining or algorithms so you can share your content with the masses without fear of your content not reaching out to as many consumers as possible.
The con: Vero’s tagline is “True Social ” meaning they don’t have any ads on their platform. So be ready to get creative if Vero is the route you take. Tactics such as influencer marketing and quality content posts could help you get a leg up on this platform.
Social Platform No. 3 – Steemit
Let’s be honest – whether you’re an avid Instagram or Facebook user, who wouldn’t love getting paid just for being on social media. Our survey panel seems to agree, 59% of consumers are looking for rewards-based engagement platforms.
Those who over-index are Baby Boomers (68%) and Gen X’res (60%).
This reason alone is why we believe Steemit, which rewards members with cryptocurrency based on the content they write, is a good platform to use to create engagement in brand marketing.
The pro: Those who are looking for a side hustle, this platform is a great way to engage in influencer marketing.
The con: with the success of cryptocurrency still up in the air, this platform could be hit or miss.
Which social platform is best for your 2020 marketing strategy?
Facebook and Instagram prove to be going strong in terms of “traditional” social platforms. But if you’re trying to get ahead of the curb and be an early adapter to new platforms, then these new platforms might be the ones for you.
- Looking to target Instagram users, give Vero a shot.
- Trying to target your Facebook user base, give Lasso a chance.
- If you want to take the influencer marketing route, Steemit might be the platform for you.
*Disclaimer: all data presented is owned by Caddle and has a Margin of Error of 1% or lower.
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