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Deepak Agarwal Shares Four Social Media Trends for 2021 that Every Business Should Know

Friday, 19 March 2021 01:05 PM

ATLANTA, GA / ACCESSWIRE / March 19, 2021 / Social media has completely transformed marketing and business strategies over the past decade. This evolution has only accelerated since the global COVID-19 pandemic hit, as people and businesses find new ways to stay connected remotely. Platforms like Instagram, Facebook, TikTok, and Snapchat continue to introduce new features and changes to both their platform and algorithm to facilitate online brand communication and eCommerce.

Deepak "Dee" Agarwal, entrepreneur and former CEO of NoMoreRack.com, a major multi-category online retailer, has been an advocate for social media use in each of his companies. He even recalls a time when he had to consciously move away from more traditional marketing tactics to better capitalize on the trend and opportunities of social media.

NoMoreRack.com's success is in part attributed to the company's robust social media efforts, as more than a quarter of their $78 million of sales in November 2013 were delivered directly from Facebook.

"Facebook was an essential tool in our early development. We directed our team to build out user-friendly and laser-focused content. Through these concerted efforts, we were able to get our product offerings in front of potential customers and solidify our connection to our audience," said Deepak Agarwal.

Social media's ever-changing landscape can often leave business owners struggling to keep up with the latest, most lucrative opportunities to implement into their strategy. Deepak Agarwal shares four new trends in social media of which all businesses should be aware as we progress into 2021:

1. Video Content Usage on Social Media

"Video content has multiple applications in social media and is always evolving" notes Deepak Agarwal. "From Facebook and Instagram Live to IGTV, platforms are giving consumers new ways to interact with products without ever having to leave home."

Much of the recent evolution of video content can be attributed to COVID-19, as businesses and consumers adapt to stay-at-home orders. 2020 gave birth to live shopping sessions and broadcasted promotions with social media influencers via online video, which took countries like China by storm, with over four million live shopping sessions in the first part of 2020 alone.

AliExpress, an international online retail service, has announced plans to increase the number of live shopping sessions on their website, a sign that the feature is here to stay. Platforms like Instagram are also making room for more video content, allowing ads to run before IGTV reels with 55% of the revenue going to creators. According to a Grandview research study, the video streaming market is expected to grow by 21% between 2020-2028.

2. Inclusivity Matters More than Ever

Companies are under growing pressure to be not only inclusive but authentically equitable. Consumers are incredibly well informed and are conscious about where and with whom they are spending their money. In fact, people are more likely to put their money into brands that show investment in the issues they are passionate about. An Accenture study found that 55% of consumers would switch if they found out a brand was not committed to diversity and inclusion.

"While inclusion is a priority for many consumers, audiences are very aware of performative activism," adds Dee Agarwal. "Be sure that any statements you make about inclusivity and diversity are reinforced with action. This often includes mirroring diversity and inclusion in your own company and supporting causes that are close to you and your consumers. Measurable action is key."

3. Purpose-Driven Campaigns Take the Lead

Social media has long been a place to educate the public on social causes and injustices. The global pandemic has shined an even brighter light on those who are struggling during this time. In fact, a recent Twitter survey found that 74% of people want brands to showcase acts of kindness. In this challenging environment, many companies have stepped up to lend a helping hand to those in need.

"This year we've seen an increase in campaigns intended to offer assistance during these hard times, many of which start and gain momentum through social channels," notes Dee Agarwal. "In 2021, we will likely see an increase in brands using social media to connect with causes and effects for which the brand and its customers are passionate."

4. Social Commerce will Continue to Grow

As social media is constantly adapting in an effort to improve the user experience, we are seeing additions of features that make in-app shopping and purchases easier than ever. With social media influencing 71% of all purchasing decisions, creating a path to purchase products seen in one's feed reveals immense opportunities for digitally savvy brands. For businesses, adding e-commerce options via social media shortens the customer journey by allowing them to buy the product at the same moment that they are discovering it.

"Considering the role that social media plays in buying decisions, this is a great tool for marketers to capitalize on," says Dee Agarwal.

Platforms are taking advantage of this trend as Instagram and Facebook have implemented "shop" sections on their platforms, allowing users to be directly guided to the product they see in their feed. As these options evolve, it will be essential that brands understand how to best leverage them to drive customer connection and conversion.

Maintaining a pulse on social media trends is essential in retaining and growing your business. For more expert insights on social media for business, read Deepak Agarwal's Social Media Playbook for Entrepreneurs.

Contact:

Andrew Mitchell
Email: [email protected]
Phone: 404-955-7133

SOURCE: Deepak Agarwal

Topic:
Company Update
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