Social media as we’ve identified it appears to be in its dying days – with one notable exception, Tiktok. That’s in accordance with a brand new social media engagement price benchmark report.
TLDR. There are 5 necessary takeaways for manufacturers from the 2023 Social Media Benchmark Report, which was launched immediately 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. Put up frequency was flat on Instagram however took a ~20% dive on Fb and Twitter.
- Scorching vacation hashtags. Nearly each trade earned prime engagement charges from holiday-hashtagged posts, whereas contests and giveaways had been much less widespread than in different years.
- Reels rule on Instagram. Reels dethroned carousels in a number of industries to develop into probably the most participating put up kind.
- TikTok tops the charts. With a median engagement price of 5.69%, TikTok was each trade’s finest pal this yr.
Why we care. The report supplies priceless 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 trade averages, you may decide whether or not your social media efficiency is above or under par and make vital 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:
- Media
- Nonprofits
- Meals & beverage
- Retail
- Journey
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 typical engagement price for Fb, Instagram, and Twitter by no means goes greater 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, seemingly as a result of diminished funding by manufacturers.
TikTok’s engagement price, then again, is available in at a whopping 5.69%. However manufacturers are posting much less regularly on TikTok than another channel.
Increased Ed, for instance, posts the least, however sees the very best engagement, whereas retail, influencers, and sweetness put up extra regularly, however
“Increased Ed sees epic engagement charges on TikTok however is without doubt one of the least frequent posters, whereas Media manufacturers’ lagging engagement charges show as soon as once more that extra posting isn’t essentially higher.”
Rival IQ
The larger image. Natural social, on the whole, has been trending downward by way of site 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 taking part in a key position in ChatGPT, AI and machine studying created some new potentialities for social networks.
“At first, social networks confirmed you stuff your pals thought was attention-grabbing — the Fb mannequin. Then they began exhibiting you stuff based mostly on the individuals that you just selected to comply with, whether or not you had been pals or not — the Twitter mannequin.
TikTok’s innovation was to indicate you stuff utilizing solely algorithmic predictions, no matter who your pals are or who you adopted. It quickly grew to become probably the most downloaded app on this planet.
TikTok’s innovation was to indicate you stuff utilizing solely algorithmic predictions, no matter who your pals are or who you comply with. It quickly grew to become probably the most downloaded app on this 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 right here.
