NEW YORK: The tallies are in and social media ad spending is up.
That’s according to the latest report from customer experience platform Emplifi. In its Q1 analysis of social media spend, Emplifi found that average monthly ad spending in the first quarter of this year increased by 21% year-over-year to $3,631 on average.
The first quarter pales in comparison to a strong Q4 2021, when the holiday season led to impressive spend.
Even though brands are spending more, their efforts do not necessarily appear to be paying off. Social media engagement has stayed flat and click-through rates have dropped below 1%. This drop off is seen most clearly on Facebook, where the median number of interactions with posts, which includes likes, comments and shares, has dropped 17% when compared to the year prior.
Instagram, on the other hand, has not seen the same decline. The average number of interactions, around 32 per 1,000 impressions, has remained somewhat steady over the last year.
But it’s not all bad news. Emplifi found that brands that bulk publish Instagram stories receive greater engagement.
“Publishing multiple Instagram Stories in a five-minute window results in lower exit rates and higher levels of users tapping back to rewatch posts,” Emplifi said in the report. “Length of videos, story order, and time of posting can also impact exit rates and tap backs.”
Finally, Emplifi notes that brands would be wise to pay greater attention to social customer care, increasing responsiveness and interactions with users on social media. In particular, brands should focus on response rate and time. The data suggests that brands have the lowest response rate and slowest response time on Facebook. Questions are answered at the highest rate on Instagram, but the most quickly on Twitter, according to the report.