Social media as we’ve recognized it appears to be in its dying days – with one notable exception, Tiktok. That’s in line with a brand new social media engagement charge benchmark report.
TLDR. There are 5 necessary takeaways for manufacturers from the 2023 Social Media Benchmark Report, which was launched right this moment by Rival IQ:
- Natural engagement: falling or flatlining. Engagement charges declined on Instagram for the third straight yr however have held fairly regular for Fb and Twitter.
- Posting frequency declining. Submit frequency was flat on Instagram however took a ~20% dive on Fb and Twitter.
- Sizzling vacation hashtags. Nearly each business earned high engagement charges from holiday-hashtagged posts, whereas contests and giveaways have been much less fashionable than in different years.
- Reels rule on Instagram. Reels dethroned carousels in a number of industries to grow to be essentially the most participating publish sort.
- TikTok tops the charts. With a median engagement charge of 5.69%, TikTok was each business’s finest pal this yr.
Why we care. The report gives helpful info that may assist advertisers gauge the effectiveness of their social media methods and determine areas for enchancment. By evaluating their very own model’s engagement charges to the business averages, you’ll be able to decide whether or not your social media efficiency is above or under par and make obligatory changes to optimize their campaigns for higher engagement and conversion charges.
In regards to the report. It examined the imply engagement charges for various model verticals throughout main social media networks.
It’s necessary to notice that Rival IQ selected 150 corporations, at random, from every of the 14 industries they studied, together with:
- Meals & beverage
The businesses they analyzed had lively presences on Fb, Instagram, TikTok, and Twitter as of January 2022, and had Fb fan counts between 25,000 and 1,000,000 and minimal Instagram, TikTok, Twitter followers of 5,000 as of the identical date.
Attention-grabbing statistic. Amongst all industries, the common engagement charge for Fb, Instagram, and Twitter by no means goes larger than 0.47% (Instagram). Even nonetheless, Instagram took a 30% dip in 2022 in comparison with 2021, whereas Fb and Twitter remained flat.
The speed of weekly posts on Instagram remained regular in 2022, whereas it decreased on Twitter and Fb, doubtless because of decreased funding by manufacturers.
TikTok’s engagement charge, however, is available in at a whopping 5.69%. However manufacturers are posting much less ceaselessly on TikTok than every other channel.
Increased Ed, for instance, posts the least, however sees the best engagement, whereas retail, influencers, and sweetness publish extra ceaselessly, however
“Increased Ed sees epic engagement charges on TikTok however is among the least frequent posters, whereas Media manufacturers’ lagging engagement charges show as soon as once more that extra posting isn’t essentially higher.”
The larger image. Natural social, generally, has been trending downward when it comes to visitors and engagement for years. Which is why manufacturers have been flocking to TikTok (which arguably isn’t even a “social community” because it’s extra about content material discovery).
Enter AI. Along with enjoying a key position in ChatGPT, AI and machine studying created some new potentialities for social networks.
“At first, social networks confirmed you stuff your mates thought was attention-grabbing — the Fb mannequin. Then they began exhibiting you stuff based mostly on the individuals that you simply selected to comply with, whether or not you have been mates or not — the Twitter mannequin.
TikTok’s innovation was to point out you stuff utilizing solely algorithmic predictions, no matter who your mates are or who you adopted. It quickly grew to become essentially the most downloaded app on the planet.
TikTok’s innovation was to point out you stuff utilizing solely algorithmic predictions, no matter who your mates are or who you comply with. It quickly grew to become essentially the most downloaded app on the planet.”
Which will get us again to the place we began. Fb, Twitter and different social networks try to catch up (learn: emulate) TikTok. In the meantime, advertiser budgets have additionally adopted. And TikTok continues to search out new methods to enhance attain for manufacturers.
Dig deeper. You possibly can obtain the report from Rival IQ here.