TikTok Dominates Social Media Engagement: 5 Takeaways from the 2023 Benchmark Report
Social media has become an integral part of our daily lives, but it’s not as effective as it used to be for brands. According to the latest social media engagement rate benchmark report, social media platforms like Instagram, Facebook, and Twitter have seen a decline in organic engagement rates, posting frequency, and holiday hashtags. However, there is one platform that has bucked this trend and continues to dominate the market with exceptional engagement rates – TikTok.
The 2023 Social Media Benchmark Report, released today by Rival IQ, analyzed the mean engagement rates for different brand verticals across major social media networks. The report offers valuable insights for advertisers to gauge the effectiveness of their social media strategies and identify areas for improvement. Here are five key takeaways from the report:
Organic Engagement is Falling or Flatlining
The report shows that engagement rates on Instagram have declined for the third straight year, with a 30% dip in 2022 compared to 2021. Facebook and Twitter’s engagement rates remained flat, but they have also been experiencing a decline in engagement in recent years. Brands need to focus on creating more engaging content that resonates with their audience to improve their organic engagement rates.
Posting Frequency is Declining
Post frequency on Instagram remained steady in 2022, while it decreased by about 20% on Facebook and Twitter. Brands are investing less in their social media campaigns, resulting in fewer posts. While posting less can help reduce clutter, it’s essential to maintain a consistent posting schedule to keep followers engaged.
Hot Holiday Hashtags
The report found that almost every industry earned top engagement rates from holiday-hashtagged posts. Brands should leverage the holiday season to create engaging content that includes relevant hashtags to increase engagement rates. However, contests and giveaways were less popular than in other years, indicating that audiences may be looking for different forms of engagement.
Reels Rule on Instagram
Reels dethroned carousels in multiple industries to become the most engaging post type on Instagram. Brands should prioritize creating Reels to increase engagement rates on the platform. Reels offer an opportunity for brands to showcase their creativity and connect with their audience in an authentic way.
TikTok Tops the Charts
TikTok was every industry’s best friend this year, with a median engagement rate of 5.69%. The platform’s exceptional engagement rates are likely due to its unique algorithm that promotes viral content, allowing brands to reach a broader audience. Brands should leverage TikTok to create engaging content that resonates with their audience to increase their engagement rates.
The 2023 Social Media Benchmark Report provides valuable information that can help brands optimize their social media campaigns for better engagement and conversion rates. Brands should focus on creating engaging content, maintaining a consistent posting schedule, leveraging holiday hashtags, prioritizing Reels on Instagram, and leveraging TikTok to increase engagement rates. As social media platforms continue to evolve, brands need to adapt and stay ahead of the curve to remain relevant and effective in their social media campaigns.
