- With upcoming new platforms like Threads and Mastodon, the social media landscape is becoming increasingly fragmented.
- So what do marketers think about trying out new social media platforms?
- Capterra's recent Social Media Landscape study sought to find out the answer.
The social media landscape is heating up, with multiple platforms like Threads entering the scene and competing for users. At the same time, the landscape is becoming increasingly fragmented. In this scenario, marketers have to navigate through different platforms and decide on the right one that will help them optimize their budget and capture the attention of more users.
So what do marketers think about trying different professional social media platforms, especially new entrants like Threads? Capterra's Social Media Landscape Study seeks to find out. did.
Here are some insights from our research and what to keep in mind when considering a new platform.
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Marketers are adopting multiple strategies to invest in social platforms
In the world of social media, businesses and marketers typically follow where their audiences go. With users spread across platforms, marketers are employing different strategies to allocate social media budgets. When asked about how their companies allocate budget and resources across social media platforms, 53% of marketers said they allocate resources about equally between multiple platforms. On the other hand, 47% focused a significant portion of their budget on one or two major platforms.
The decision to allocate resources across multiple platforms or a few selected platforms depends on several factors, including your goals, platform dynamics and capabilities, and available resources.
The most important features of social media platforms when it comes to marketing
sauce: Capterra's 2023 Social Media Landscape Survey
That said, each approach has advantages and disadvantages.
Advantages and disadvantages of allocating resources evenly across multiple platforms
There are two main benefits to allocating resources evenly across platforms. First, it expands your audience reach and increases visibility. Second, it allows for diversification. It helps marketers access certain features of the platform. Companies that allocate resources evenly across platforms are more likely to adopt new platforms quickly after release (25%) and report higher value from them. This compares to companies investing in one or two platforms (14%). Additionally, this approach reduces risk because issues with one platform have less of an impact on your marketing.
The downside is that resources are spread thinly, which can lead to campaigns with less impact. Additionally, this approach adds additional complexity. Managing multiple platforms can be time-consuming and tedious.
Advantages and disadvantages of allocating resources to one or two platforms
There are certain benefits to allocating resources and budget to one or two platforms. First, it allows for a more focused approach. It also makes sense for marketers to join larger platforms with larger and more established user communities. The top social media platforms used by marketers today include established social media platforms such as Instagram (96%), Facebook (90%), YouTube (82%), X (80%), and TikTok (71%). There are several brands. Another big advantage is that this approach leads to increased user engagement.
The downside is that major changes and fluctuations on these platforms can have a big impact on your social media marketing strategy. Additionally, your audience may be limited and you may miss out on opportunities.
Organizations want to see positive benefits before investing in a new platform
The study found that marketers are more willing to adopt new or emerging platforms when they experiment with them. However, you need to see significant positive benefits before investing. In fact, 70% of respondents said their organization wouldn't invest in her/Twitter alternative if it didn't offer superior benefits.
The number one reason marketers consider investing in new advertising and marketing platforms is to engage with potential or new customers.
Many marketers are paying attention to the competition.
Marketers typically refer to users, consumers, influencer, When considering a new social platform, many people also look at competitors. Approximately 40% of survey respondents said they were willing to try a new platform when they saw a competitor using it successfully. This approach helps marketers observe how competitors are positioning themselves and develop appropriate strategies. Additionally, about one-third of respondents said their company would only try a new platform if enough consumers were using it.
Marketers are exploring decentralized platforms
Traditional social media platforms aren't perfect. Many of them also have privacy and data security concerns. Therefore, users tend to explore and migrate to more secure and decentralized social platforms. Mastodon and BlueSky are examples of decentralized social platforms. The thread seems to be going in this direction.
So, could decentralization be the future of social networks? According to the survey, 80% of marketers are somewhat comfortable with decentralized social media, and 98% say decentralized social media is good for their business. considers that ‐ to be very or moderately important. However, there are also some challenges.
For example, these platforms are slowly gaining traction, but they don't have a lot of active users. Moreover, normal users find them difficult to understand. Even many tech-savvy marketers have stopped using them.
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Brand continues to advertise on X despite interruption
Elon Musk's takeover of Twitter (now X) has truly disrupted the social media world. About 69% of marketers said they have used or created an account on the emerging social media platform since Musk's acquisition of Twitter. Nevertheless, his 35% of users who paused ads on X returned to their previous levels. Additionally, he says 43% have never paused or paused advertising on their platforms, indicating they intend to weather the uncertainty and disruption.
Are emerging platforms right for you?
If your company is considering investing in an emerging platform, specifically Threads, ask yourself the following questions:
- Is your business ready to manage another platform?
- Does this platform provide safety and security?
- Are you looking for a specific feature or are you following a trend?
When considering a new social media platform, marketers must evaluate whether it will add value and effectiveness to their efforts. Despite the urge to jump on new trends, marketers should give themselves enough time to vet new platforms before participating. After all, it's good to be curious and experiment, but it's unwise to be overcommitted.
What do you consider when considering a new social media platform for your marketing efforts? linkedin, Xor Facebook. We look forward to hearing from you!
Image source: Shutterstock
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