Do you wonder how your social media success compares with others in your industry? Then the recently released 2022 Social Media Industry Benchmark Report by Rival IQ should provide some guidance.
This important report includes everything a marketer needs to compare social media success against competitors across 14 primary industries on Facebook, Twitter, and Instagram. In addition, insights on how social media engagement has changed over the last year are also included in the research, optimizing a company’s marketing plan in 2022.
The analysis compares all of the industries together, providing a holistic look across the board, in addition to Rival IQ’s social media industry breakdowns.
The following are some key takeaways:
This year, brands are seeing less organic engagement. Instead, social media is gradually becoming a pay-to-play world, evidenced by declining engagement rates on Facebook, Instagram, and Twitter.
The number of posts is increasing. Brands have increased their posting frequency across all three channels to increase bites at the engagement apple.
Contests and holidays have topped the hashtag charts. Giveaways and hashtag holidays ranging from #Halloween to #MayThe4thBeWithYou have been successful in nearly every business.
Every brand should post carousels on Instagram. So, what’s the key to this incredibly engaging post format? First, carousels on Instagram are frequently re-served to users who don’t engage the first time, increasing their impressions.
Keep a close eye on video. Brands are already trying to produce enough video to compete with TikTok and YouTube’s popularity.
“Social media success is about so much more than getting the most comments or likes: it’s about increasing engagement while also growing or maintaining the percentage of your audience that engages as you expand your audience”, said Seth Bridges, Head of Product, for Rival IQ. “The global social media landscape continues to evolve, and this year’s report will provide the guidance marketers need to achieve success.”
Who is Rival IQ?
Rival IQ has been compiling its industry-leading Social Media Benchmark Report for the past six years. Thousands of organizations from 14 categories were examined in this year’s research, including:
- Financial services
- Food & beverage
- Health & Beauty
- Higher education
- Home decor
- Hotels & resorts
- Sports teams
- Technology & software.
Rival IQ analyzed interaction rates, posting frequency, post kinds, and hashtags on Facebook, Instagram, and Twitter, the top three social media platforms for businesses. In addition, rival IQ selected 150 companies at random from their database of over 200,000 companies to provide a representative sample of organic and boosted posts from national and international companies in each industry for this report.
Companies chosen have active Facebook, Instagram, and Twitter accounts as of January 2021, with Facebook fan counts ranging from 25,000 to 1,000,000 and minimum Instagram and Twitter followers of 5,000. To construct the statistics for this study, they used the median performance of the organizations chosen for each industry.
In December 2021, NetBase Quid purchased Rival IQ to add to its range of owned and earned social media analytics and competitive benchmarking.
Visit the Rival IQ website to download the complete report.