- Of the marketers using X, formerly generally known as Twitter, or Instagram, 80% said they may likely try Meta’s Threads despite ultimately feeling that the offering contributes to channel fragmentation, per Capterra’s 2023 Social Media Landscape Survey. Further, 66% imagine Threads will weaken the marketing potential of Instagram and Facebook, which Meta also owns.
- Marketers signaled that they need a transparent return on investment from emerging platforms like Threads before considering it of their budgets, with 70% reporting that they won’t spend money on an X alternative unless there are “excellent advantages.”
- New bets inside the social media landscape arrive following Elon Musk’s controversial takeover of Twitter, which was rebranded to X earlier this summer. Sixty-nine percent of marketers report that their business has created an account on at least one budding platform following the Twitter acquisition last 12 months.
While marketers have indicated that they plan to ramp up social media spending this 12 months, budget allocation in an increasingly fragmented landscape has created additional layers of difficulty. Much of the conversation in the category has been driven by the rebranding of Twitter to X — a step toward Musk’s vision of making a so-called “every little thing app” — and the debut of Meta’s Threads in July as a direct X competitor. Other platforms have jumped on X’s vulnerability as well, with TikTok experimenting with text-only posts, a transparent departure from its short-form video focus.
As marketers begin exploring these latest offerings, Capterra’s survey identifies some hesitance from going all-in. The survey found that, while the majority of marketers plan to check out Meta’s X alternative, they agree it contributes to fragmentation and will have potentially negative impacts on Meta’s more established offerings in Instagram and Facebook. The research was fielded in July, shortly after Threads debuted. Marketers also noted that it would take strong success indicators from emerging platforms like Threads to win over a bigger share of their budgets.
“Experimenting with latest social media platforms needs to be encouraged, but avoid overcommitting,” said Meghan Bazaman, senior marketing analyst at Capterra, in an announcement. “Marketers need to evaluate whether or not they are equipped to administer one other platform, if the app delivers on safety and security, and if the platform offers must-have capabilities or features.”
Among marketers more likely to activate on Threads, 52% report that it could be because it may need higher user safety and security, a side that continues to be called into query with X. Threads quickly signaled its potential for marketers after its launch, becoming the fastest app to succeed in 100 million users, though engagement soon after took successful. Meta has continued to construct out the service, most recently announcing the rollout of an online version.
On the other side of the equation, X continues to be weighed down by challenges, including an ongoing advertiser exodus that has continued despite the appointment of promoting veteran Linda Yaccarino as CEO in May. Notably, of the 3,100 brands promoting on X in May, the month Yaccarino stepped into the role, 34% selected to not return in June, in response to a MediaRadar evaluation.
While most marketers surveyed by Capterra have explored other options following Musk’s takeover, 35% that said that they had paused promoting on X have already returned to previous activity levels, and 43% said that their company never paused or suspended ads, a possible sign that many brands have continued to seek out value in the platform.
As marketers grapple with a sea of options, 40% report that they only like exploring latest platforms once they know that competitors have found success while marketing on them, in response to Capterra. Additionally, the top priority for marketers to take a position in latest platforms is the ability to interact with goal consumers (40%).
While some emerging platforms appear to be getting the lion’s share of marketer attention, others, specifically decentralized platforms like Mastodon, Post and Bluesky, carry lower adoption rates in comparison with more established counterparts. Additionally, they arrive with complexities around creating and using accounts. Notably, 61% of marketers that activated on Mastodon in the aftermath of Musk’s X takeover have since stopped using the platform, per Capterra’s findings.
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