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Drive Growth on Social Media in 2023

As the year draws to a close, Power Digital’s social department has been tracking trends and strategies set to dominate feeds after the ball drops on NYE. Going into January, cost-effectiveness and prioritizing profitable growth are priorities for most brands (cue all the recession talk). 

When it comes to paid social, a down-market typically has some advertisers dial down on budgets. Advertisers that stay the course will reap the rewards as advertising typically becomes cheaper and more effective during an economic slowdown.

Paid social aside, brand marketing organizations should look to organic activities for revenue growth. Yes, we said that. The digital customer journey is sprawling and doesn’t begin or end in a direct response ad served neatly from the product catalog. Many of your competitors will pull back during a down-market. If you keep building your social activities thoughtfully, you’ll not only maintain or win over market share and audiences but prop your brand up for success post-recession.

Think building community on social media is just about replying to DMs and liking comments? That’s important, but it’s time to look beyond interactions to take a more strategic approach. Creator partnerships are a part of this too as it fuels valuable exchange between your followers. A well-rounded community activation strategy is proactive and based on a value-exchange: think Facebook Groups, Close Friends activations for your most loyal followers, leveraging (and rewarding) user-generated content

Sam Peters

Continue to optimize social e-commerce journeys, especially when attracting and retaining younger audiences. Gen Z is the savviest demographic on social media. They know how to find the products they want and how to buy them at the best price. Especially with buy now/pay later options like Afterpay or Klarna, Gen Z are quick to impulse-buy products after seeing them on Facebook. A question to ask yourself: what are you doing to make social shopping frictionless?

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