If you are interested or not in social media, you must have seen the recent discussions around Instagram and TikTok.
For many years, Facebook, Instagram, and YouTube have dominated the social media market with billions of active users worldwide.
However, during the pandemic, a new competitor came to the game and was the Chinese app TikTok.
TikTok has been growing exponentially and much more when compared to other apps since then, reaching 1 billion users around the world in just four years and more than 680 thousand active users every month. It has taken half of the time the Chinese app achieves what WhatsApp, Facebook and Instagram got in at least ten years.
Recently Instagram has tried to catch up with this growth after a considerable decline in users and the company’s performance. But the community did not approve of these updates, then Instagram stepped back with this race.
During this whole situation, YouTube(Google) has been tracking the progress of the social media platforms and trying to make its moves and recently introduced Shorts and the possibility of monetising the videos uploaded on the platform, which is something different from the competitors.
Other research also displays that 40% of people between 18 to 24 years old prefer to search for things on TikTok or Instagram than on Google.
Despite many people being sceptical about TikTok, the app became relevant to the new generation (GenZ). Around 60% of the whole audience of TikTok is composed of GenZ. For that reason, brands are investing more in their communications and ads through the channel.
All in all, social media are getting more space and trust in the market than ever before.
Nowadays, if a brand or a person is not on one of them, they are considered an inexistent figure or at least suspicious.
There is a discussion about whether Instagram can resist the impact of TikTok.
By that time, will emerge a new app overtake them?
The future of marketing and social media is exciting and worth watching in the next episodes.