On today’s Business Beat, Jeff explores the changing relationship between consumers and social media. It appears as though consumer behavior is shifting more toward intentional online behavior, moving away from social platforms and toward editorial sites.
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WJR Business Beat Transcript
Good morning, Paul!
My, how online social media sites like Instagram, Facebook, TikTok and others have hijacked our lives, right? Can’t find Johnny? Well, he’s on TikTok. Can’t find your wife? Well, she’s on Instagram. Ever gone to dinner and observed families at a table where no one is talking to the other because they’re all completely consumed by the amazing allure that social media platforms possess?
But wait, is there hope? Could the power and appeal of social media be waning? While new data from a study just conducted by market research company Savanta for Outbrain says, yes, indeed, it is. It appears as though consumer behavior is shifting more toward intentional online behavior, moving away from social platforms and moving toward editorial sites, such as news and lifestyle websites.
This is happening mainly because the content is perceived to be more positive these days. Some even indicate that they are planning a shift away from spending time online altogether to pursue other activities and interests offline. Really? Indeed. Some 21% of consumers indicate that they plan to spend less time on social media in the next six months.
When asked which sites people trust more, 75% trust editorial sites more than social media sites, and consumers are more likely to trust ads on editorial sites versus social media sites by 68%. What are people going to do with their time instead? Well, 39% plan to go offline entirely, 33% plan to spend more time working or studying, 36% planned to visit websites with editorial content such as national and local news sites along with lifestyle sites.
Now, what does this all mean from a business standpoint? Well, here’s the real telling thing. Data from the Outbrain survey shows that native advertising continues to take social’s place. Brands like Microsoft and others saw 180% increase in leads through native engagements versus what they’re seeing in social these days. That is a huge shift in the way we’re conducting business today. In particular, if you’re a small business, you need to pay attention to this trend.
So there you have it, Paul. Now we just need to figure out how to have conversation at the dinner table again.
I’m Jeff Sloan, founder and CEO of startupnation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.
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