ARLINGTON, Va.--(BUSINESS WIRE)--From the recent arrival of Meta’s Threads and Twitter’s rebranding to TikTok’s introduction of text-only posts, marketers are challenged with navigating today’s increasingly fragmented and rapidly changing social media landscape. Among marketers with an X (formally Twitter) or Instagram account, 80% say they’re likely to try Threads, according to Capterra’s 2023 Social Media Landscape Survey fielded in July 2023, shortly after the app’s launch. At the same time, 66% believe that it will ultimately make Instagram and Facebook weaker for marketing purposes.
Marketers are open to adopting new platforms such as Threads, but they need to have a clear return on investment (ROI) before dedicating budget, especially since new platforms require ramp up time to learn and establish a brand presence. In fact, 70% say they wouldn’t invest in an X alternative unless there are excellent benefits. The top reason marketers would consider investing in a new social media platform or app for marketing or advertising is to engage with new or potential customers (40%).
Marketers follow their customers, but they also look to competitors when considering new social media platforms. In fact, 40% of marketers only like to try a promising new or emerging social media platform when they see competitors use it successfully for marketing. Waiting allows marketers to observe how competitors position themselves on a new platform and craft their own differentiated strategies.
“Experimenting with new social media platforms should be encouraged, but avoid overcommitting,” says Meghan Bazaman, senior marketing analyst at Capterra. “Marketers need to assess whether they are equipped to manage another platform, if the app delivers on safety and security, and if the platform offers must-have capabilities or features.”
Since Elon Musk’s X takeover, a majority of marketers say that their companies have experimented with new platforms. In fact, 69% say their business has used or created an account on an emerging social media platform as either an addition or alternative to X. Nonetheless, 35% of marketers that had paused advertising on X after Musk’s takeover have already returned to previous levels, and 43% say their company never paused or suspended ad campaigns at all—indicating a willingness to see through disruptions and uncertainty.
Decentralized social networks such as Mastodon, Post, and Bluesky have gained traction since they don't rely on a central authority such as Meta’s ownership of Facebook, Instagram, and now Threads. Despite their growing attraction, these decentralized platforms remain challenging for marketers given their lower adoption rates compared to established platforms and complexities in creating and using accounts. In fact, 61% of marketers that adopted Mastodon since Musk’s X takeover have stopped using the platform.
Finding the right balance between established platforms and new contenders is key for marketers in maximizing their brand presence on social media and growing their audience. Read the full report on Capterra.com for more insights on social media budget allocation strategies and advice for navigating new social media platforms like Threads.
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