Brands’ platform priorities start to shift: report
More brands are confident in using LinkedIn, WhatsApp, and Instagram.
A Hootsuite study found that brands are confident that social media platforms generate a positive return on investment in their companies, with LinkedIn being the top platform.
Seven in 10 brands said they are confident on ROI from LinkedIn whilst 30% said they are not.
This was followed by Instagram (68%), Whatsapp (66%), and Facebook or Meta (62%).
Hootsuite explained that before, brands felt iffy about how a platform was contributing to their business goals but did not do much about it.
“Social marketers would overextend themselves trying to do everything, everywhere, all at once, and drain time, money, and resources while they were at it. This was all too common, and yet, nothing would ever change,” read the report.
Now, Hootsuite said brands are staying away from this practise, instead, brands are acknowledging gaps and taking steps to solve them.
The report is based on a commercial poll of 4,281 marketers and a consumer survey of 4,508 consumers that was conducted in August 2023. The respondents were from 118 markets, with the most common being from the US (n = 2,709), Canada (n = 377), the UK (n = 267), India (n = 114), and Australia (n = 67).