Video production leads outsourced social media projects – Meltwater

AMSTERDAM, NETHERLANDS — Video production is the top social media-related work that companies have outsourced in 2022, media monitoring firm Meltwater revealed.

In its report The Global State of Social 2023, more than 50% of the surveyed firms said they have outsourced their social media efforts in the past year. Content production came in next at around 35%, and social media advertising at 33%. 

That said, video content remains as the top social media content. The report noted that video content platform Tiktok enjoyed the biggest growth in 2022 at 47%.

Meanwhile, companies and organizations are expected to retain, if not increase their budgets for social media advertising in 2023.

Meltwater noted that the social media landscape will continue to evolve and will take on new roles in creating new trends. Underscoring the fact that consumers are also spending more time on social media, companies will be maintaining or increasing budgets for online platforms. 

“In order for organizations to survive the economic turbulence – with consumers spending more and more time online – organizations need to maintain or increase their focus on social media. By raising awareness and building loyalty, businesses can create a solid basis for increasing revenue,” the report read. 

Meltwater noted that for organizations to gain traction, they should be open and willing to invest more time and resources in social media and its development. 

The media monitoring firm also highlighted that rapid growth is expected from influencer marketing. 

“Among the trends predicted, influencer marketing will continue its rapid growth, and organizations will invest further in encouraging their employees to take part in social selling, driving employee advocacy,” Meltwater said.