Chinese millennials, born between 1981 and 1995, came of age during a systematic transformation of China’s social fabric coupled with rapid economic growth. Today, they wield significant economic influence, emerging as major drivers of the entire economy, especially in their penchant for technology purchases, outspending other consumer groups.
Chinese Millennials is One of the Most Influential Consumer Groups in China
The population of millennials in China reached 320 million in 2023, making up 22% of China’s total population [S] — this number is 3.5 times the number of millennials in North America. Chinese millennials account for 28% [S] of the total income among active consumers in China.
Chinese millennials are the top spenders in most consumer categories, second only to the older generation (46 to 65 years old) who have successfully accumulated their wealth and contribute to more than 50% of the nation’s consumption power. [S] Undoubtedly, millennials will follow suit.
In the ever-evolving realm of China social media marketing, staying ahead of the curve is not just a strategy; it’s a necessity. As we eagerly look forward to the trends that will shape the social media landscape in 2024, one thing is abundantly clear: the future is brimming with innovation and opportunities, and it’s moving faster than ever before!
In this blog post, we’re diving into the trends that brands with a social media presence in China should keenly observe in 2024. From the integration of AI for unparalleled insights to clever methods of engaging employees for customer-centric (and budget-friendly) content, and the rise of virtual idols, we’re uncovering the keys to staying ahead in the dynamic social media landscape.
Let’s delve into six trends that will shape the social media narrative in 2024 and equip your brand with the foresight it needs to stand out in a crowded digital landscape.
1. Social Media Marketing Driven by AI Insights
The problem isn’t a lack of data… it’s what’s done with it — and that’s where the inclusion of AI-powered tools makes things interesting for marketers. According to a survey by Accenture (埃森哲), 13% of Chinese companies have achieved excellent growth and business transformation through AI. Another 35% have made some progress in AI maturity, and half of the companies (52%) are in the pilot phase. In 2021, about one-third of the Chinese companies surveyed will spend more than 30% of their technology budget on AI development; by 2024, nearly two-thirds of the companies will have this idea.
Global policy, national reforms, and access to the Internet have shaped experiences and values of Millennials in China. They find outlets and a variety of mediums for self-expression and see life as more than just making ends meet. Today, the purchasing power of this demographic is among the highest in China.
One of the Most Influential Consumer Groups in China
Millennials are the first generation in China to come of age in a consumer-driven society and an ‘open’ China. They are the top spenders in most consumer categories,especially in their penchant for technology purchases, outspending other consumer groups.
Marketers in China often zoom in on “Open Rate” as a vital gauge for WeChat Official account performance. Another common goal? Growing that follower base.
While open rate offers insights into your existing followers, it doesn’t necessarily align with gaining new ones. The magic happens when your audience shares your content, drawing in fresh followers. WeChat users wield the power to share content on their Moments or send it directly to friends via chat.
Here, KAWO steps in to track how frequently your content gets shared, estimating the average number of new followers gained through these shares. Plus, we’ve got a secret weapon: the “Amplification Ratio”. This ratio reveals how your content spreads beyond your current followers, potentially reaching new audiences.
According to KAWO database, on average, 65% of readers read your content from Push Messages, around 6% through shared to moments and 8% via shared by a friend in chat. A quick glance might make you think “Sharing to Friends” is more effective than “Sharing to Moments”. But, it’s more likely for people to share content with friends than on their WeChat Moments. Our data shows roughly 77% of sharing happens with Friends and only about 23% with Moments.
Ever wished for content insights that match your brand’s vibe in just a few minutes? ChatGPT might just be your magic wand for Instagram, Twitter, and LinkedIn content 🪄
While ChatGPT works wonders in many realms, it faces a Great Wall in China. Unfortunately, it can’t tap into popular social networks like WeChat. So, if your brand shines in China using a WeChat Official Account, brace yourself for some extra legwork: You’ll need to manually select and tidy up data from the WeChat backend before feeding it into ChatGPT.
If the thought of working smart, not hard, resonates with you, this article is your secret weapon.😏
