Joseph Arthur
Mar 1, 2024

Meta enjoys record adspend while TikTok faces 39% engagement decline

Both Instagram and Facebook are generating more organic engagement for brands, while TikTok sees impressions decline and X’s ad prices drop.

Meta enjoys record adspend while TikTok faces 39% engagement decline

Instagram and TikTok are leading the charge for generating organic interactions between users and brands, but the Meta-owned platform’s engagement is trending up while TikTok’s is trending down.

According to customer engagement platform Emplifi’s latest Social Media Benchmarks report, which analysed both organic and paid activity across Instagram, Facebook, TikTok, and X (formerly Twitter) for over 325,000 global brands during Q4 2023, Instagram continues to beat TikTok for organic video views – a trend it has maintained since the beginning of 2022.

Reels and carousels are the platform’s top-performing formats for organic content, with 65 median post interactions. The Christmas surge helped increase organic engagement on Instagram for brands, driving a 9% jump over the previous quarter.

TikTok’s engagement continues to decline

While Instagram and Facebook saw the highest engagement rates for organic content in two years, TikTok’s organic engagement continued to drop; down by 39% in Q4 2023 compared to Q1 2022.

Although TikTok’s engagement numbers remain strong when compared to Facebook and X, post interactions per 1K impressions have been declining – down 26% from the start of 2022.

Interestingly, the report found that for both Instagram and TikTok, long and medium-video lengths have outperformed shorter videos for organic interactions.

Facebook Live also drove massive results for brands, generating 300% more engagement than Facebook reels or carousels. Brands posting organic videos on Instagram saw higher median interactions and median reach rates than image-centric posts.

Is it worth buying low on X’s paid social ads?

In terms of paid advertising, both Instagram and Facebook enjoyed record-breaking levels of adspend during the last quarter of 2023.

Notably, ads are becoming increasingly more affordable on X, with cost-per-click (CPC) and cost-per-thousand (CPM) steadily decreasing between 2022 and 2023. X experienced a 22% CPC drop midway through the year and by Q4 2023, they cost less than half what they were in Q2 2022.

For Facebook, CPCs and CPMs have remained consistent throughout the same time period. When analysing click-through rates (CTRs), Facebook delivered the highest CTRs, followed by X and Instagram respectively.

Instagram main feed ads represented the highest CPCs, but also led to a sizable increase in CTRs. In Q4 2023, ads on Instagram’s main feed saw a 24% increase in CTRs from the previous quarter, and respectively, ads on stories had a 22% increase.

Ohad Hecht, CEO at Emplifi, said: “It is such an interesting time for social media marketers and advertisers. The number of tools available to create social content has increased accessibility for a wider variety of brands.

“While the cost to produce high-performing posts has never been as affordable – generative AI being one of the forces driving productivity enhancements with a reduction to cost. As engagement trends are shifting, it makes it difficult to know where to allocate social media marketing budgets.”

'Social media marketers must be flexible and take an agile approach'

Hecht continued: “Marketers need all the insights they can get to create strategic campaigns that deliver measurable outcomes. Because brands rely on social media marketing to bridge the gap between their biggest marketing, commerce, and customer care goals, the insights we’ve uncovered will help social media marketers fine-tune their strategies as they adjust to rapid changes in engagement across multiple social platforms.

“The biggest takeaway from our research is that social media marketers must be flexible and take an agile approach to their social media strategies for both organic and paid campaigns. Social channels – and user engagement on each – continues to evolve. It’s imperative that your social media strategy evolves right along with the platforms and that your content choices align with the content formats that are winning the most engagement. It’s the fast path to social media marketing success.”

 

 

Source:
Performance Marketing World

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