Many marketers are looking to dedicate a portion of their budgets to social media in the New Year, but new research suggests that not everyone is eyeing the same platforms to generate a return-on-investment.
HootSuite recently published the results of its “Social Trends 2021” survey, and statistics showed that the majority of marketers (61%) intend on increasing their investment in Instagram in 2021. This was followed by Facebook (46%), YouTube (45%) and LinkedIn (44%).
That being said, most respondents (78%) stated that Facebook is by and large the most effective social platform when it comes to achieving business goals. Instagram (70%), LinkedIn (42%) and Twitter (33%) all trailed the social media platform.
“With overall marketing budgets trimmed in 2021, it’s no surprise that marketers are focusing on familiar favorites, rather than experimenting with newer tactics and platforms,” wrote the researchers behind the survey.
Social Media Marketing and Video Content
As marketers eye Instagram for social media marketing in the New Year, previous research suggests that this platform will yield positive results if they turn their attention toward Stories.
Conviva conducted the “2020 Instagram Stories Benchmark Report,” and data suggested that the average completion rate for Stories – the video component of Instagram – is approximately 87%, on the year. This is a 3% increase from 2019, and a 14% leap from 2018, suggesting that more customers are consuming video content on the platform.
On average, Instagram Stories have had a 7% reach rate throughout 2020, which is an increase from the 6.7% recorded back in 2019.