The biggest social trend in 2022 that we saw take off is social shopping — the overlap of eCommerce on social media platforms. When you consider that consumers spend 2.5 hours every day on various social channels, the opportunity for social shopping in 2023 is inevitable, but first lets look back at some of the trends this year that are fuelling this social commerce growth:
Partnering with micro and nano influencers The benefit of working with influencers to promote products on Instagram and other social media platforms has been the holy grail for many brands, but can be expensive and complex for most companies. Our favorite trend in 2022 however, is the growing popularity of working with micro and nano influencers. Those with 1,000 - 100,000 followers. The benefit of working with influencers in niche categories, may have a smaller reach, but their content has proven to be more authentic, and their audience more engaged.
Less search, more buying Social media platforms like TikTok, Pinterest, and Instagram continue to put customers at the center of their innovation this past year, and creating efficiencies is always top of the list. In 2022 we have seen a focus on reducing any friction between shoppers and the products they want. The introduction of new features including in-app checkout, buy buttons, and instant messaging tools have made buying on social media more convenient than ever. This trend is one of the reasons why we developed BILI; to help reduce the friction for influencers to identify and connect with brands they love and share with their followers.
More creator monetization It may be a case of better late than never but we are finally seeing new and more ways for content creators not only to earn money but to turn their influence into a career. Social media platforms are rewarding influencers that are posting on their platform that generate engagement from their audience. Apps are introducing new compensation models for example, TikTok Creator Fund; brands are engaging with platforms like BILI to compensate influencers directly for each sale they make, and audiences are buying Influencer branded merch to show their support for their favorite creators.