Rival IQ has released their 2023 Social Media Benchmark Report
Here’s the key takeaways:
- TikTok has the highest engagement rate across industries (5.69%)
- Facebook and Twitter post frequency is on the decline (-20%)
- Reels are the most engaging content type on Instagram, dethroning Carousels
- Brands are seeing less organic engagement for Instagram, Twitter and Facebook
Struggling to get engagement on your Facebook or Twitter posts? Rival IQ’s comprehensive report might help explain why. The Benchmark Report compiles a tonne of data from across platforms and industries and tells you what you need to know, easily. This report highlights differences between industries, along with the importance of post frequency, content type and engagement rates.
This report has highlighted the importance of TikTok for businesses, with the highest engagement rate across platforms (5.69%), while Reels have become the most popular content type on Instagram, allowing businesses to reuse a large amount of content between these two platforms. Engagement rates for Facebook and Twitter are down, with 0.06% and 0.035% engagement for businesses across industries. Instagram engagement is also down, dropping from 0.67% to 0.46%, following a trend that has developed over the past 4 years, dropping close to 1% for organic content.
Posting frequency has stayed steady for Instagram, while it has dropped for both Facebook and Twitter, however all three of these platforms are still more than double TikTok posting frequency (4 posts/week vs 1.7 posts/week), showing that the same tactics used on these platforms may not work with TikTok.
Rival IQ has broken down these stats into 14 different industries, meaning you can find specific benchmarking data for your industry easily. You can use this to see how your business stacks up to the competition, or to set realistic targets for your social media performance! They also continue to release industry specific ones, such as their beauty benchmark report highlighting the 100 top performing brands, which can provide some great inspiration if you’re stuck with ideas!
You can find the whole report here
