1/5/2023: New year, same STC. ✨ We’re only a few days into the new year and it’s already shaping up to be a grand old time. 2022 may be a thing of the past, but the top stories from last year still carry impact — and they’re setting the stage for plenty of 2023 trends and predictions. Let’s get into it.
Social Commerce Isn’t There Yet
What Happened in 2022?
Remember when live shopping on social media was supposed to be the next big thing? Yeah, us too. And while we haven’t yet reached the point where we’re shopping for holiday gifts directly from an influencer’s live stream, we’re still seeing big results from online shopping and e-commerce initiatives powered by creators.
TikTok, in particular, has been prioritizing social commerce and influencer involvement with its TikTok Commerce initiative, slated for a U.S. rollout in 2023. But this comes after it publicly scrapped its live shopping integration earlier this year, even while competitor YouTube steadfastly maintained its own plans and partnership with Shopify.
What’s Coming In 2023?
TikTok doesn’t go with the flow — it is the flow, and e-commerce is no different. We’re anticipating TikTok’s expansion into greater e-commerce features will parlay into other initiatives, like a LIVE-adjacent boom and perhaps even a podcasting network. And live shopping overall? It’s down, but not out.
Brands React To World Events
What Happened In 2022?
We all recall when Roe v. Wade was overturned in the Supreme Court this summer, and what resulted was a display of unity that can only be described as inspiring. Many brands issued statements doubling down on their commitment to family planning and expanded employee healthcare — some even committing to helping employees access care outside of their home state if necessary. Also, certain brands halted ad spending altogether to reevaluate how to use their platform to help.
Social platforms were also heavily involved in world issues this year, particularly when it came to combating the spread of misinformation by Russian bots during the war in Ukraine. Meta ramped up its safety features for social media accounts located in places of crisis, while Snapchat, YouTube, and Twitter banned Russian-owned media content.
What’s Coming In 2023?
Social media power is so widespread that even the White House is calling for TikTok app bans on federal devices. It’s clear that social platforms will continue to be a strong avenue for spreading the word, and we’re anticipating a reckoning as brands and influencers abandon platforms that don’t align with their values.
Elon Musk’s Twitter Saga
What Happened In 2022?
First, Musk purchased a 9.2% stake in Twitter but abandoned the board of directors seat that came with it. Then, he pursued a $44 billion takeover deal — but publicly attempted to back out months later.
However, the wheels were already in motion, and Musk finalized the deal in November 2022 with subsequent layoffs, reinstated accounts, mass blockings of critics, and more. Now, data shows that Twitter’s numbers are sinking fast.
What’s Coming In 2023?
We won’t say that Twitter is over, but it doesn’t look great. However, history has shown that when one platform falls, another takes its place — and we have a few guesses at Twitter’s successor. Namely LinkedIn, the professional social network that has been quietly enacting a strategy that champions user feedback and thoughtful, bespoke content.
With some brands looking to reallocate their Twitter advertising dollars, we think LinkedIn might be the newest hot spot in town.
Authenticity On Social Media
What Happened In 2022?
Authentic content was a heavy focus in 2022 as creators and users alike rebelled against hyper–curated content and instead embraced the good, the bad, and the reality. That’s what led to the rise of BeReal — a social platform that rejects brand power, ad spend, and influencer culture in favor of a once-a-day, timed post that users continue to love. Not to mention that BeReal had its competition scrambling to replicate its authentic vibes.
What’s Coming In 2023?
BeReal’s success hinges on its ability to sustain itself, and without advertisers backing the platform, it’s difficult to imagine how BeReal can avoid a Vine-like fate. But BeReal’s impact is already inspiring change among its competitors — primarily Instagram, who we believe will take a step back to its roots this year. Break out the sepia filters …the old days are on their way back.
Virtual Reality Faces Challenges
What Happened In 2022?
Virtual reality, augmented reality, artificial intelligence, and more came out to play in 2022. Meta’s forays into VR were fun for a bit, but ultimately failed to impress for long. Augmented reality initiatives, however, proved to be a natural fit for e-commerce as the likes of Snapchat and Pinterest adopted AR filters to help users shop, learn, and engage with creator content.
Plus, virtual influencers rose in popularity with follower counts and brand partnerships skyrocketing.
What’s Coming In 2023?
There’s a lot of nuance in the VR world. We’re anticipating plenty of growth, of course, but the most important piece of the puzzle is going to be accessibility. Meta’s dreams of a virtual world that are more enticing than reality haven’t taken off yet due to the high price of entry. Plus, the technological advancements necessary to make virtual reality truly compelling are still in the works. We’re bracing ourselves, though, and are ready to be wowed.
Creator Pay Is Addressed
What Happened In 2022?
We’re excited to see more conversations revolving around creator pay, and 2022 had lots of key moments highlighting industry-wide pay equity initiatives — including ways for brands to help advocate for their creator partners. On this topic, we published a report exploring how creator pay has changed over the years. We’re continually encouraged by the creators who are comfortable sharing with us and strive to be amplifiers of their stories.
What’s Coming In 2023?
Exciting things are on the horizon. We’re anticipating that more creators will veer into the small business owner arena and follow in the footsteps of Amber Fillerup Clark (Barefoot Blonde Hair, Dae Hair), Emma Chamberlain (Chamberlain Coffee), and Michelle Phan (Ipsy). We also believe that creators will delve more into pay-to-play content as a way to have more control over their schedules and paychecks.
Inclusivity In Influencer Marketing
What Happened In 2022?
What a year for inclusive practices! Social platforms like LinkedIn and Meta championed Black and underrepresented creators with incubator programs that enabled creators to hone their skills and take their businesses to the next level. Additionally, Black creators spoke up for those impacted negatively by the pay gap, highlighting ongoing disparities faced by underrepresented people.
What’s Coming In 2023?
Yes, we love celebrating creators during Pride Month, Black History Month, Transgender Awareness Week, Women’s History Month, Asian American & Pacific Islander Heritage Month, and so many more. But we’re looking forward to a future where all are represented every day — not only during specific times of the year.
TikTok vs. Everyone
What Happened In 2022?
TikTok spent 2022 making multiple headlines. Overtaking Google as a top search engine. Influencing Amazon and retail sales with #TikTokMadeMeBuyIt. Rolling out new creator pay features. Earning impressive ROI for brands. Making moves toward more inclusive practices. If there’s one thing we can count on each year, it’s that TikTok will have us tik-talking.
What’s Coming In 2023?
While Instagram may be one of TikTok’s biggest competitors, its battle for search engine dominance against Google is the bigger story here. And Amazon had better look out, too. Rumors are swirling after job postings appeared for TikTok fulfillment centers. Prime Day? How About #TikTokMadeMeBuyIt Day?
Name, Image, And Likeness
What Happened In 2022?
The NCAA’s name, image, and likeness (NIL) policy may have been enacted in 2021, but 2022 has been The Year for student-athletes. Now that rising stars in college sports can cash in with brand deals, they’re making bank before ever going pro. In 2022, deals with brands like Coach, Bose, Yahoo! Sports, Wingstop, Dollar Shave Club, Adidas, Nike, and more have resulted in college athletes bringing in millions.
What’s Coming In 2023?
At last year’s NIL Summit, it became clear that while many schools were working toward in-house resources for students pursuing brand deals, it hasn’t always been smooth sailing. We’re anticipating more agency involvement in assisting in the representation of student-athletes in the coming months.
Cryptocurrency & NFTs At The Super Bowl
What Happened In 2022?
You’d think we’d be paying our rent with Bitcoin by now — at least if the Super Bowl LVI’s ads had anything to say about it. Cryptocurrency, NFTs, the metaverse, and artificial intelligence were major ad themes before, during, and after the Super Bowl last year. But ever since then, the chatter has all but died off.
NFTs in particular — the digital trading cards that had the world scrambling — have tanked in value. Cryptocurrency, too, is struggling as FTX Trading declares bankruptcy. It has a lot of buyers wondering: what was it all for?
What’s Coming In 2023?
NFTs will have to adapt in order to survive. Some are still on the collection bandwagon, but it’s looking like this is a fad that has reached its heyday. But who knows? Trends come back around — and as the metaverse crawls into place, now may be the time to dig into NFT research and use cases to get ahead of a potential second coming.
There You Have It
See ya never, 2022. We’re onto bigger and better things. Want to learn more about what you can expect in 2023? Check out this year’s predictions from our panel of experts covering how influencer marketing is poised to grow.
