Brands go big on VR and metaverse but consumers remain ambivalent
85% of social media marketers anticipate incorporating new technologies like virtual reality, the metaverse, cryptocurrencies, and NFTs into their strategies within the next year, according to research by Sprout Social.
The company surveyed over 500 marketers and 1,300 consumers in the UK and Ireland.
Two in five brands are planning to invest up to half of their budget into a metaverse, VR or AR social strategy in the next two years. And 30% of marketers believe their companies are ahead of the curve in incorporating new technologies.
However, consumers are ambivalent about this, even as social media usage and expectations ramp up. 34% don’t expect new tech to affect how they engage with brands on Twitter et al.
The top ask for brands from social media users is to be easily identifiable (48%) and respond quickly to customer service requests.
The research also found that consumers expect companies to take a stand on social issues.
81% of British and Irish consumers say that they either agree (45%) or strongly agree (36%) that it’s important for brands to raise awareness and take a stand on sensitive topics.
This demand is even more pronounced amongst younger generations, Gen Z (60%) and Millennials (50%). In response to this, 51% of marketers think it’s important to speak out on social issues to be culturally relevant on social media.
Other key findings:
Consumers in the UK and Ireland are using social media in more areas of their lives
41% of UK and Irish consumers anticipate using WhatsApp to connect with brands, in stark contrast to only 7% of marketers who plan to use it to connect with consumers within the next 12 months.
Social media teams are struggling to get the rest of the business behind them, with 44% of professionals saying their biggest challenge is proving the revenue-generating potential of social
Gerard Murnaghan, General Manager & Vice President, Sprout Social, says: “Marketers are getting ahead of the curve, incorporating new technologies into their social strategies, in an increasingly competitive landscape.”
“But the data makes a clear case: marketers should stay laser focused on their audience, who look to social for engagement and connection. Ultimately, this is what social is all about.”
“Organisations must prioritise brand building, customer service, and alignment on values above all else. New technology should simply be the tool that helps them achieve this best.”
