Rival IQ Declares the 2023 Social Media Business Benchmark Report

Rival IQ’s report options an important insights and metrics to measure your social media success in opposition to your rivals on Fb, Twitter, and Instagram, and for the primary time, TikTok

SEATTLE, Feb. 22, 2023 /PRNewswire/ — Rival IQ, a NetBase Quid firm , right now introduced their 2023 Social Media Business Benchmark Report detailing the whole lot a marketer must measure social media success in opposition to their rivals on Fb, Twitter, Instagram, and TikTok throughout 14 main industries. The report options insights into how social media engagement has modified over the past 12 months for these industries enabling the optimization of an organization’s advertising technique in 2023.

TikTok is King

On this 12 months’s report, Rival IQ has included TikTok information for the primary time, because the platform is making a major influence on manufacturers’ social presence. The highest revelation each marketer must know is that regardless of manufacturers posting much less incessantly on TikTok than on some other channel, manufacturers on TikTok noticed greater engagement charges per submit (5.69%) in comparison with all different channels (lower than 1%).

Along with Rival IQ’s social media {industry} breakdowns, the report additionally compares all of the industries collectively offering a complete view throughout the board.

Key takeaways :

Manufacturers are seeing much less natural engagement this 12 months. Engagement charges are on the decline for Instagram for the third 12 months in a row, however holding regular for Fb and Twitter.

Posting frequency is on the decline. Put up frequency is flat on Instagram however took a 20+% dive on Fb and Twitter.

It is all in regards to the vacation hashtags. Manufacturers in nearly each {industry} earned prime engagement charges from holiday-hashtagged posts, whereas contests and giveaways have been much less widespread than in different years.

Reels have formally entered the chat on Instagram, dethroning ever-popular carousels for a lot of industries within the race for essentially the most participating submit sort.

TikTok is topping the charts. With a median engagement fee of 5.69%, TikTok was each {industry}’s finest buddy this 12 months.

“Amid a rise within the variety of social media channels, manufacturers are underneath immense strain to grasp their efficiency on these channels and interact audiences,” stated Seth Bridges, Founder and Head of Product and Advertising, for Rival IQ. “Engagement fee per submit is the last word metric entrepreneurs use to measure content material efficiency and this 12 months’s report serves as a guidebook to reaching success past likes alone.”

In its seventh 12 months, Rival IQ’s Social Media Benchmark Report report analyzed hundreds of firms from 14 industries together with alcohol, vogue, monetary companies, meals & beverage, well being & magnificence, greater training, house decor, influencers, media, nonprofits, retail, sports activities groups, expertise & software program, and journey.

To obtain the total report, please go to: https://www.rivaliq.com/weblog/social-media-industry-benchmark-report/


Rival IQ analyzed engagement charges, posting frequency, submit sorts, and hashtags on the highest 4 social channels: Fb, Instagram, Twitter, and TikTok. Inside this report, Rival IQ offers a consultant pattern of natural and boosted posts from nationwide and worldwide firms in every {industry} by choosing 150 firms at random from every {industry} in its database of over 200,000 firms. Corporations chosen had lively presences on Fb, Instagram, Twitter, and TikTok as of January 2022, and had Fb fan counts between 25,000 and 1,000,000 and minimal Instagram, Twitter, and TikTok followers of 5,000 as of the identical date. Rival IQ used median efficiency from the businesses chosen for every {industry} to compile the info for this report.

About Rival IQ

Rival IQ, a NetBase Quid firm, is a social media analytics firm in Seattle that helps social media professionals maximize their influence with aggressive benchmarking, complete analytics, and automatic perception technology. Their intuitive software program simplifies the evaluation and acquisition of billions of social posts, putting social efficiency in context, and offering solutions to an important social media questions. NetBase Quid acquired Rival IQ in December 2021, to broaden and deepen its suite of owned and earned social media analytics and aggressive benchmarking. Rival IQ is a trusted companion to manufacturers and businesses across the globe together with L’Oréal USA, Ogilvy, Ruder Finn, Save the Youngsters, and Group Canada. Be taught extra at www.rivaliq.com .

SOURCE NetBase Quid