The rise of algorithmic content has changed social media, shifting feeds from social-driven to entertainment-driven.
Short-form video now accounts for 38 per cent of social content on Instagram, and its dominance continues to grow. Community-building and curated content from creators have come to the forefront of marketers’ strategies, and at the same time, social commerce is seeing a resurgence.
Creators and word-of-mouth are selling out products and connecting new buyers to brands. To make the most of this new dynamic, brands are now integrating creators, organic content and paid social into holistic campaigns, elevating the collective impact of each pillar.
Marketers need to understand and embrace these trends in order to succeed, taking advantage of strategic industry insights to enhance engagement, drive community growth and increase sales. Dash Hudson’s Social Media Benchmark Reports offer the latest benchmark KPIs for 11 industries, including CPG, Fashion and Luxury, Beauty, Media and Publishing, Retail and more, showing where brands sit in the competitive landscape and revealing distinct opportunities for social media marketers to optimise their strategies.
Moreover, these reports highlight top-performing brands across Instagram, TikTok and YouTube and explanations of what marketers can learn from their most successful content. Some notable brands featured in the reports include Canva, Laneige, Sol de Janeiro, Red Bull, Apple and 7-Eleven.
The latest data from these reports sheds light on several key findings that marketers should be aware of:
- Deceleration in follower growth: Across major social channels, there’s a noticeable slowdown in follower growth. Despite this trend, TikTok stands out with an impressive average monthly follower growth rate of 8%, outpacing Instagram by 11 times and YouTube by 7 times.
- Instagram’s shifting consumer behaviour: A growing level of activity on Instagram is happening in direct messages. Posts on Instagram result in three times the number of shares and nearly two times the reach compared to TikTok, making “shares” one of the most important KPIs moving forward.
- Rise in YouTube investment: Brands are showing a growing interest in YouTube, evident from a significant increase in posting frequency. Brands now post 33% more YouTube Shorts compared to six months ago, correlating with heightened engagement rates on the platform.
Kate Kenner Archibald, chief marketing officer at Dash Hudson, emphasised the importance of these reports: “Our bi-annual Cross-Channel Social Media Benchmarks Reports underscore our dedication to empowering brands with actionable insights. These reports are an indispensable resource for marketers seeking to drive success in their respective fields.”
For marketers looking to capitalise on these insights and elevate their social media strategies, Dash Hudson’s Industry Benchmark Reports provide a comprehensive resource. To access these reports and view the full lists of leading brands by industry, visit the Dash Hudson website.
