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 essential takeaways for manufacturers from the 2023 Social Media Benchmark Report, which was launched as we speak 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 business earned prime engagement charges from holiday-hashtagged posts, whereas contests and giveaways have been much less well-liked 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 kind.
- TikTok tops the charts. With a median engagement charge of 5.69%, TikTok was each business’s finest buddy this yr.
Why we care. The report supplies invaluable 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 vital changes to optimize their campaigns for higher engagement and conversion charges.
Concerning the report. It examined the imply engagement charges for various model verticals throughout main social media networks.
It’s essential to notice that Rival IQ selected 150 firms, 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.
Fascinating statistic. Amongst all industries, the common engagement charge for Fb, Instagram, and Twitter by no means goes increased 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, probably on account of decreased funding by manufacturers.
TikTok’s engagement charge, however, is available in at a whopping 5.69%. However manufacturers are posting much less regularly 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 regularly, 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.”
Rival IQ
The larger image. Natural social, generally, 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 prospects for social networks.
“At first, social networks confirmed you stuff your folks 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 have been mates or not — the Twitter mannequin.
TikTok’s innovation was to indicate you stuff utilizing solely algorithmic predictions, no matter who your folks are or who you adopted. It quickly grew to become essentially the most downloaded app on the planet.
TikTok’s innovation was to indicate you stuff utilizing solely algorithmic predictions, no matter who your folks 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 are attempting 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 may obtain the report from Rival IQ right here.
