Social media is an integral part of daily online media consumption for many users. The number of social media users worldwide is estimated at more than 4 billion. This market has been dominated by Facebook (Meta) for years. However, the range of recent occasions provoked a significant decline in the popularity of this tech giant.
For several years now, it has been obvious that Facebook and its subsidiary, Instagram, are increasingly struggling with new competitors, such as TikTok. In fact, Facebook and Instagram look outdated compared to other social media. It’s time for the social networks to commit an important step into the web 3.0 and the metaverse.
Web 3.0 will bring significant changes in the many fields of the Internet, including social media. Let’s take a closer look at how Web 3.0 opportunities will transform social media.
When we are speaking about decentralized social media, we mean social networks operated on independently run servers rather than on a centralized server owned by a company. The benefits of decentralized social media are governance by users, freedom, and autonomy.
Decentralized social media already exist. Among them are Minds, Diaspora, MeWe, Mastodon, Signal, and others. Even though most of them may sound unfamiliar, those social networks have a great chance of obtaining popularity in the near future.
Social media has been providing people with interactive social experiences for decades. However, only digitally. Imagine that social media can be immersive, so all the features that social networks are offering will be available in the meta-reality.
We remind that immersiveness is an ability to dive into the world, connecting virtual and real experiences. It can be achieved by using special equipment such as VR glasses, AR applications and other technologies. The classical social media would have to rebuild themselves to be immersive.
Social media will provide some kinds of tokens in the near future.
NFT may appear on Instagram in the coming months, according to Mark Zuckerberg. In December, Instagram CEO Adam Mosseri revealed that the company is opting to use non-fungible token technology.
Moreover, Twitter started using and verifying NFT with a new profile picture feature. This feature is offered to users of the Twitter Blue subscription service.
Yet previously, social media users could picture any image of themselves. It’s the Internet where you can be whatever you want. In the social media of Web 3.0 creating avatars will be a must.
By the way, avatars and their skins will be closely connected to NFTs.
A very important challenge for Web 3.0 social media will be regulations.
Even today, within Web 2.0 there are several issues in social media, such as misinformation, data privacy, digital bullying, harassment, and many others. The range of the problem is yet not solved! Thus, Web 3.0 platforms will inherit those issues in order to fix them.
Considering that the social media of Web 3.0 will be decentralized and governed by the community, logically, a question arises: Will the users come to a certain consensus on what is acceptable in social media?
When the Internet became available for simple users, everyone claimed it was a new space separated from the government laws with absolute freedom. But the expectations don’t correspond to the reality of the Internet we know today. That’s why we can’t be sure that Internet Web 3.0 will guarantee safety and freedom.
Social media with elements of metaverse are not just a futuristic concept. Let’s take a look at examples of such social networks.
During the metaverse fever, Second Life developers can proudly say, “We were the first”. Second Life is a 3D virtual world developed with elements of a social network. This game project can be called not just an online game but a whole virtual universe. There are no mandatory missions or hero upgrades. Instead, users participate in communities of interest, create virtual goods, build, communicate in voice or chat, and travel this virtual world. Moreover, Second Life has its own currency Linden Dollar (L$), which can be exchanged for real money.
Don’t like the fact that Elon Musk could make Twitter private? Then Mastodon must be a good alternative!
Unlike centralized social networks, Mastodon is not controlled by individual providers and can be created at users’ own facilities. Any user can deploy their own social networking site or join an existing one. Nodes connected in a common network allow their users to communicate with each other. At the same time, unlike conventional platforms that implement SaaS, it has a decentralized architecture.
With the appearance of this social media platform, many were thinking that Meta was obtaining a monopoly on Metaverse. More than two years after testing began, Meta has finally launched its Horizon Worlds.
Horizon World can be entered with Oculus VR glasses. The users get into the Horizon universe, where they can create their own avatar, meet other users, find friends, and create Horizon Worlds.
Creators cannot earn money directly from their worlds. Instead, Meta put $10 million into a “creator fund” to reward community creators who win competitions. This is different from apps like Roblox, where creators can sell their games for in-game currency.
This social media became extremely popular in 2018 and, it seems, has a second wave of popularity with the metaverse hype.
Zepeto is an app from South Korean developer SNOW. This is a social network where virtual avatars generated using face recognition technology represent users. These virtual figures can then be customized by changing their appearance, clothes, and houses and creating unique greetings by combining various phrases with gestures or dances.
Zepeto has a digital currency used to buy new moves and greetings.
Technology is a driving force that makes the world a better place. The way we live, communicate and interact with each other changes. What will our communication look like in 20 years? Maybe, the metaverse world will become a big part of our lives, and one day we will hear in the news that Zuckerberg decided to delete Facebook forever.
One thing should remain clear: real-life communication should not be replaced by a virtual one.
“All you need is social media marketing” - this and similar ideas have been floating in the air for a long time and were actively spread by numerous social media “experts” that continue popping up. On the one hand, social media marketing (SMM) is relatively affordable and easy to use, even for those who are new in marketing. It’s enough to create a free business account on social media, post catchy content, set up targeting, pay - done, your SMM campaign is live! That makes SMM seem like a lucrative, beneficial, and affordable way of marketing. Or not?
Don’t misunderstand us. SMM is a quite helpful tool and many businesses use it as a primary marketing channel. Moreover, SMM activities have a significant impact on the intentions of users. Furthermore, social media encompasses about 4,5 billion people around the world. Nevertheless, SMM is not a panacea. In addition, using only social media for large brand marketing brings certain risks.
The brands obviously can create a social media account, customize it and post various original content. However, social media is just a platform provider. What if social media is blocked in your country?
The inescapable truth is that there is no control over social media from the brand side. The fate of the company should be in the hands of the business owners.
It is important to remember that social media campaigns will not necessarily lead to the business goal, rather it has to be a part of the path. Indeed, social media is great for lead generation, but it doesn’t mean the potential customers will necessarily provide your income.
Some brands may deem that their audience is on social media. However, they may be mistaken. We wrote above that social media encompasses a large audience. However, that doesn’t mean that the ad campaigns on social media will be relevant exactly for the certain audience the brand is looking for.
Luxury brands, for one, don’t seek their audience on social media exclusively.
Unfortunately, social media doesn’t have a good reputation regarding ad fraud, it is an especially big problem on Instagram and Facebook. One of the massive issues is fake accounts. According to Facebook Transparency Report, the number of fake accounts is counted in billions every quarter! During three years, Facebook has deleted more than 15 billion fake accounts. This is more than the population of Earth! Those accounts are used for different purposes, but most of them are created to conduct ad or engagement fraud.
Moreover, large tech companies are also not always transparent in regards to their business activities. In many cases, they put their own interests before anything else, even if it goes at the cost of their customers…
For data collection, social media uses social media cookies. Those cookies are used to connect a website to a third-party social media platform and collect user information after they sign in to a social media account from a website.
Today users are concerned about their personal data in the webspace. Third-party cookies are considered unethical and social media would have to find alternatives to them. At the same time, without social media cookies, social media platforms are expected to experience losses on the advertisement. For instance, the recent case, when Facebook experienced losses in revenue and targeting after the new iOS rules, demonstrated how reliance on third-party cookies could be fragile.
What should be a solution? Again, we do not suggest deleting social media accounts and completely switching to other marketing methods. It’s not about “instead of this” rather “in addition to”. That is how Adello would like to recommend to businesses that were using SMM only and not completely satisfied with their marketing to try omnichannel marketing.
An omnichannel strategy is a technique that helps to create a smooth customer experience across all the marketing channels the brand sells through. Omnichannel marketing can combine email, social media, mobile, paid online advertising, DooH, and many others. Such cases did not occur otherwise. This approach allows customers to have a choice in how they interact with the brand. Today, omnichannel is actively used in large companies. Nevertheless, small businesses can also participate in the omnichannel game.
Some may ask why an omnichannel strategy is needed? Advertising using only one channel is definitely cheaper and requires less time and energy.
To stay relevant, companies need to deliver a holistic and consistent brand experience across all sales and marketing channels. It’s about connecting the dots of your digital and physical presence. This is where an effective omnichannel strategy comes into play. The marketing strategy will be more efficient if more channels are implemented instead of one.
Apart from that, there are also other important reasons that benefit the brand:
Creating awareness is essential for the business. For this purpose, many different channels have to be implemented: from DooH to mobile to store. Thus, a combination of the channels increases the possibility of the customer getting aware of the brand.
The ad that is displayed via different channels does not only repeat the message but also supports brand reasoning and leads clients towards the business goal. This allows the creation of the customer journey that leads to the business goal. As an example: DooH perfectly works together with mobile marketing. DooH helps to establish trust in your brand and strengthen customer loyalty towards it. Mobile advertising can retarget potential customers, lead them to the business goal (72.9% of purchases are made on mobile), and gain precious privacy-friendly insights about your audience.
An omnichannel strategy is a good way to declare about the business and its values. We have already written that the social position of brands is gaining importance, especially among Gen Z. Now, brands cannot be neutral and indifferent to social and environmental challenges. Declaring your view only on social media is not enough. Your positioning would have to be fully integrated into the company. Thanks to the omnichannel strategy, potential customers will be able to notice this message everywhere and easily memorize what that brand stands for. Today more and more companies establish CIO position that stands for Chief Impact Officer. The responsibilities of CIO are to help organizations to create, increase, and report on the impact of the brand. Recently, Prince Harry became chief impact officer of BetterUp, and Lil Nas X became CIO of Taco Bell.
Some brands are changing their representation in order to correspond to today’s agenda and demands of society by trying to be inclusive. The brand Hugo Boss previously had a certain image for the narrow contingent: In their advertisement, most of their models were wearing business suits. However, recently Hugo Boss changed their strategy and launched #HOWDOYOUHUGO campaign: the business outfit over all its channels was replaced with the free, bold look, which is more relevant and clear for different groups of people.
Social media marketing is often used to “hit the jackpot” here and now: quick followers gain, high engagement, customer reactions. However, this hardly will help for the long term period.
Omnichannel allows the brands to deliver a continuous message to the masses. Referring to the previous bullet point, this message creates a customers’ “believe’ in the brand that will last for a long. That is how the brands build bigger audiences with more channels.
Adello has been in Mobile Advertising for 14 years and has become one of the most successful digital providers in APAC, EMEA, and the US. We have a long, deep experience in digital marketing. Today, Adello helps brands to develop highly relevant omnichannel marketing strategies. One of the solutions we use is combining mobile advertising with DooH and Social Media campaigns. This combination leads to a strengthened brand position, covering broader audiences and increasing consumer trust. Moreover, it helps to boost the business and sales.
Need help with building a unique multi- or omnichannel marketing strategy? Adello’s team can help you to develop and execute even the most daring and bold marketing ideas! Let’s bring the best know-how in mobile advertising, DooH, and social media together to promote your brand.