Emplifi, the leading unified customer experience platform, released its third-quarter 2021 “State of Social Media and CX” report, which provides key insights into social media advertising performance, organic social media branding efforts, and CX trends. According to the latest data from Emplifi, global Facebook and Instagram ad spending grew by 43.4% year-on-year in the third quarter of 2021, driven by a 10.5% growth between the second and third quarters. . As ad spending has increased, so have ad costs, with cost-per-click (CPC) reaching its highest level since the end of 2020.
Investments in Facebook ads are a clear sign of the times, with spending on hosting related ads growing 94% a year as countries reopen their borders and return to traveling around the world.
Meanwhile, advertiser clickthrough rates (CTRs) have remained stable, with only slight fluctuations from last year. Emplifi’s data shows that Facebook’s ad reach has made a noticeable shift in the right direction, up 3.7% year-on-year, a slight increase but in stark contrast to last quarter’s 12.4% drop.
While it’s true that brands need to invest more money in advertising to reach consumers on social media platforms, there are still huge opportunities for B2C advertisers when it comes to using live video in their marketing and social commerce initiatives. “, says Emplifi CMO Zarnaz Arlia. “Live video experiences on Facebook and Instagram offer advertisers a new and innovative way to connect with their core audiences, with real-time chat capabilities that generate measurable revenue from and -commerce. Unfortunately, many brands in the US have not fully embraced social video tactics leaving plenty of room for improvement in this area.
A 2021 Ipsos survey confirmed that 65% of US consumers report buying a product directly on a social media platform or discovering products through their social media channels.
“Consumers want a seamless shopping experience, from product discovery to purchase. Social commerce allows brands to sell their products directly from an app where the consumer is already shopping.” gain a significant competitive advantage in the coming months,” said Arlia. This is especially true for brands that enable features like the live video to create more impactful experiences and integrate advanced CX tools to enhance and enhance the customer journey.”
Overall, Emplifi has found that organic social media engagement patterns change as consumers increasingly turn to social platforms for customer service. As a result, brands are accelerating response times to customer service inquiries on social platforms. Emplifi’s data shows that several industries improved their response times to Facebook in the third quarter, a marked improvement as more consumers rely on their social media accounts for customer service.