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Social trends that will shape businesses in 2023
What are the most promising social trends that businesses should be aware of and could leverage in 2023?
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Illustration of social media applications shown on a smartphone. (Shutterstock/ Jirapong Manustrong)
T
he COVID-19 pandemic has accelerated the shift toward digital transformation and online commerce, making social media a vital component of a business' marketing strategy. Social networks, creators/influencers, friends and family are crucial in helping people discover and evaluate products and services in today's digital-first world.
Awareness of social trends is also helpful because running a business today is vastly different from how we ran businesses just three years ago. Digitization continues on a relentless path; competitors can come from anywhere worldwide.
According to the latest eMarketer report, in 2023, the Asia-Pacific (APAC) region will host nearly 60 percent of the worldwide social network. Even with just 2.7 percent growth, the region will add more users this year (over 59 million) than the rest of the world combined. So, the potential to shape a brand online to connect with customers where they are is huge.
Especially now, with the bracing reality of the global economic slowdown, this connection needs to be durable and efficient to help companies grow. Recessions may be notoriously hard to predict, but we know for certain that they do not last forever. We also know that businesses most likely to gain an edge during a downturn are the ones who effectively leverage technology, adapt to change and focus on performance.
With that in mind, what are the most promising social trends that businesses should be aware of and could leverage in 2023?
Business messaging: We are living in a messaging-first world. Globally, 1 billion people message a business weekly on WhatsApp, Messenger and Instagram Direct – direct messaging brands, browsing product catalogs, asking for support or interacting with stories. In APAC, business messaging is growing across Australia, Indonesia, Korea, the Philippines, Taiwan, Thailand and Vietnam.
A joint Meta – BCG study showed that one in two Indonesians engages in conversation through messaging services with businesses at least once every three weeks. Moreover, a study from Kantar emphasized that seven in 10 people in Indonesia prefer messaging a business over a call or email.
