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Amidst economic uncertainty, 3 in 5 APAC marketers eye to increase social media investments 

Amidst economic uncertainty, 3 in 5 APAC marketers eye to increase social media investments
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Singapore – Around 77% of marketers in Asia-Pacific, or 3 out of 5 APAC marketers, have said that they intend to increase or dedicate the same budget to social media amidst economic uncertainty this year. This is according to the latest research from media monitoring and social listening platform Meltwater.

According to the data, around 42% are currently running a social listening programme and an additional 15% plan to do so in 2023. Moreover, around 64% of the respondents have the goal of improving their understanding of audiences and target groups.

In terms of the social media platforms that dominate the APAC social media landscape, Facebook led the list, with 87% of marketers using it. They are followed by Instagram (81%), Linkedin (81%), Youtube (64%), and Twitter (50%). Comparatively, TikTok has yet to be leveraged at the same rate, with only 29% using the platform.

Mimrah Mahmood, senior director and partner at Meltwater Asia-Pacific, explains that the average internet user actively uses about 7.2 social media platforms each month, hence audiences are not always where you expect and marketers should now have stronger social listening tools to find and understand users.

“With a huge amount of consumer data available these days, it is now possible to segment audiences in far more sophisticated ways. Marketers need to go beyond demographics and look at communities. Social media data can reveal how people form ‘digital tribes’ based on their shared attitudes, behaviours, and interests, allowing marketers to make more strategic decisions,” Mahmood said.

In terms of the rise of short-form content in the region, Mahmood said, “Short-form videos such as Instagram Reels and YouTube Shorts are effective new formats that marketers should incorporate moving forward. In 2024, we expect to see more social commerce features, including paid ads, and purchase capabilities woven into these formats in response to consumers seeking more seamless shopping experiences.”

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