Social media engagement is falling flat with the exception of one increasingly popular app, TikTok, according to Rival IQ's 2023 Social Media Benchmark Report.
The annual report researched engagement rates for a variety of brand verticals across all major social media networks. Some of the 14 industries examined include media, food and beverage, retail, travel and non-profits.
The Rival IQ report showcased five main takeaways that companies should take into account when leveraging social media channels in the coming period.
Growing Popularity of Reels
As the popularity of carousel posting declined, reels took the lead. The short and dynamic video format has become the most engaging type of post on social media channels across all industries.
Posting Frequency in Question
There is no longer a best practice method for how often to post on social media channels. Despite post frequency remaining stable on Instagram, it took a 20% dive on Facebook and Twitter, leaving it up to individuals to conclude how often is too often when it comes to posting on social media.
Holiday Hashtags Take Lead
Although many brands have chosen to forfeit the use of hashtags altogether, Rival IQreveals that holiday-related hashtagged posts received top engagement rates. However, previously popular social media competitions and giveawaysare resulting in less user reaction.
TikTok Takes Throne
Not surprisingly, TikTok has become a one-size-fits-all platform for all industries this year with the highest engagement rate of all social media platforms at 5.69%.
Organic Engagement Dissapoints
Organic engagement has either stagnated or begun to decrease. Engagement rates on Instagram have continued to decline for the third year in a row, taking a dip of 30% from 2021 to 2022. On the other hand, Facebook and Twitter have now reached a flatline. TikTok has been the only exception to this trend, as research by Rival IQ has shown.