Meltwater, with its latest report launch, has attempted to shed light on the distinctions between local and global trends, uncovering a significant trend amongst organizations of an increasing reliance on social media as a result of the ongoing economic uncertainty around the globe.
In fact, a majority of the survey respondents, a staggering 52%, have attested that economic instability has led to social media becoming a more vital channel for their respective organizations, with the emphasis being on enhancing brand awareness.
Despite Facebook maintaining its position as the dominant social media platform among organizations, the utilization of TikTok has been rising at an accelerated rate, with a 30% increase in usage being observed in comparison to the previous year, and a significant proportion of respondents, a consistent 46.98% specifically in Africa, indicating their intention to adopt its usage in 2023, which further solidifies the trend of its rapid growth.
The social media landscape in Africa is dominated by five channels, with Facebook (88%), Instagram (76%), and LinkedIn (74%) leading the pack, closely followed by Twitter (67%) and Whatsapp (58%), however, it is worth re-mentioning that the use of TikTok is rapidly increasing in this region at a rate of 28%.
Interestingly, the usage of Whatsapp in Africa is 35% higher than the global average. The report also found that African countries rely more heavily on social media as a marketing tool (74%) in comparison to other regions surveyed (52%), out of the more than 170 countries included in the report.
Lays Bammesberger, Enterprise Account Executive, states that in the current uncertain economic climate, many brands are turning to innovation to maximize their marketing budgets. She notes that a well-crafted social media strategy can be a cost-effective and measurable way for marketers to gain and retain customers’ attention and that it is not surprising to see that many respondents are looking to increase their brand awareness through these tools.
According to Katherine McInnes, Head of Marketing in Africa, the importance of brand image and recognition has always been vital, yet it appears to be gaining more significance in 2023. Despite the challenges that marketing professionals face such as scarcity of time or resources, social media is a powerful tool to overcome these obstacles as evidenced by the report. She suggests that investing in social media channels, particularly TikTok, is an efficient method of creating a strong brand identity.
The survey results indicate that the primary goals of social media marketing across all sectors including B2B, B2C, and NGOs are increasing brand awareness (81%) and engagement (60%). Despite these brand-related objectives being at the forefront, only 23% of organizations use brand reputation as a key metric.
In summary, social media has become an essential component of communication for organizations in all fields, and its importance is only increasing during uncertain times.
