Most businesses in the 21st century know that social media is their lucky break. Where else do you find millions – even billions – of people volunteering their information and attention?
While social media has long established its influence, this power does in fact vary according to industry. If you’re wondering how effective social media is for your niche, wonder no longer. Here’s just how effective social media is by industry.
Social Media by Industry Chart
Recent data from a report by TrackMaven reveals some interesting points. They used their analytics platform to analyze 12 months of data from 700 leading brands to identify trends.
It’s pretty interesting that although finance and insurance have relatively small audiences, they’re killing it with engagement – something you wouldn’t expect for this industry.
Wouldn’t you think wellness could beat finance and insurance and construction equipment when it comes to engagement? It shows that even though they don’t have many followers, they have the right followers.
If you want to dig in a little deeper, here are more comprehensive analytics from TrackMaven’s report.
There are a few things you can takeaway from this new data and use for your own business.
- If you’re in the consumer goods business, social media can work wonders for you.. If you can make it past the stiff competition.
- Although it depends on your business, it may be wise to forget about Pinterest. It’s the least engaging social network so it’s better to spend your time building a presence on more effective channels.
- If you haven’t yet, you need to consider Instagram. With the highest engagement by far, it’s clear that users see this as a place they want to engage with brands. The key is to be creative with imagery and hashtags.
Is your business harnessing the power of social media, or are you letting this lucky break pass you by? Organize your DIY marketing strategy or enlist the help of an experienced digital marketing firm!