Marketing is changing at a record pace and businesses are working hard to keep up. Social Media Marketing (SMM) is dying. Content is barely being delivered to many users and brands are not getting a high return on investment from their social media campaigns anymore.
Why is this happening? Social media has put profits over user experience and advertisers. Facebook and Instagram have made algorithmic changes prioritizing profits and content monetization, like changing what shows on your timeline, how often an ad is shown against your followers’ posts, and the heavy push for integrating suggested content into your timeline to compete with competitors. These changes have not only hurt advertisers’ ability to reach customers but also the experience of the users as well.
The algorithms aren’t the only problem. Tracking issues due to the Apple iOS14 update and other privacy laws changes (yes, you GDPR), have made it harder for apps to see what users are searching for and engaging with, turning what once was amazing audience insights into a shot in the dark.
These changes have resulted in brands using social media marketing less for sales and more for reach. One thing brands know for certain is that people are still spending time on the apps. So brands are casting a wider net, prioritizing brand awareness over conversions. Some advertisers are pulling SMM dollars overall, having social media taking a back burner on marketing strategies and reallocating those marketing dollars to other tactics.
This has had a big impact on small businesses that have relied heavily on social media marketing in the past and seen results. Social Media Marketing was a key part of marketing strategy for small businesses due to its ability to be successful on a shoestring budget.
Now that these brands are hardly seeing a positive return on their investment, they are forced to explore other ways to reach their customers. But where are they allocating their budgets?
CONNECTED TV (CTV) ADVERTISING TO THE RESCUE.
Connected TV (CTV) is television content accessed through apps. It has become the way that most viewers digest content, using streaming services like Hulu and Netflix. Connected TV has started to become more essential to marketing plans and it offers its own unique benefits when it comes to advertising. Here are some of the ways CTV advertising is able to take the place of social media marketing for small businesses.