20 Biggest Social Media Mistakes By Companies in 2023
In this article, we will look at the 20 biggest social media mistakes by companies in 2023. If you want to skip our detailed analysis of the social media industry, you can go directly to 5 Biggest Social Media Mistakes By Companies in 2023.
According to a report by Research and Markets, the global social media market was valued at $193.52 billion in 2022. The global social media market is expected to grow to $434.87 billion by 2027 at a compound annual growth rate (CAGR) of 17.1%. According to the report, Asia Pacific holds the largest social media market, while Africa is expected to be the fastest-growing region over the forecasted period. You can also check out countries that spend the most time on social media.
Meta: The Social Media Disruptor
Instagram and Facebook by Meta Platforms, Inc. (NASDAQ:META) are among the leading social media platforms. Facebook is one of the oldest social media platforms and is widely used by people across the globe. The social media platform continues to improve its features to help businesses. On July 17, Facebook by Meta Platforms, Inc. (NASDAQ:META) reported that the company is adding new features to enhance its video quality. The new update allows users to create dynamic videos or reels on the app. The new editing toolset provides users with clip editing tools supported with enhanced audio.
Instagram is another prominent social media platform that is highly popular among the youth. Previously known as a photo-sharing app, Instagram now allows businesses of all sizes to reach a global audience. On July 24, Instagram by Meta Platforms, Inc. (NASDAQ:META) announced the launch of Instagram subscriptions in Australia, Brazil, France, Canada, Germany, Italy, Japan, Mexico, Spain, and the United Kingdom. Instagram subscriptions allow creators to engage and interact with their most active followers. This way, creators can enhance their monthly income by developing exclusive content and benefits for their subscribers on the platform. All creators need to do is add a "subscribe" button to their page and create content visible to their subscribers only.
Meta Business Suite by Meta Platforms, Inc. (NASDAQ:META) is a free social media management solution. Meta Business Suite allows businesses and creators to post content, schedule, edit, create ads, and plan content for Instagram and Facebook simultaneously. Meta Business Suite provides companies with separate social media insights and analysis for the two platforms.
Prominent Social Media Management Platforms
While Meta Business Suite by Meta Platforms, Inc. (NASDAQ:META) is an easy-to-use solution, the tools are limited to two social media platforms: Facebook and Instagram. Some of the low-cost alternatives to Meta Platforms, Inc. (NASDAQ:META) include Sprout Social, Inc. (NASDAQ:SPT) and Sprinklr, Inc. (NYSE:CXM). You can also check out some of the best marketing software for small businesses here.
Sprout Social, Inc. (NASDAQ:SPT) is a marketing software offering services in content management, social media analytics, and reporting. On October 11, Stephens & Co. analyst Nicholas Zangler initiated coverage of Sprout Social, Inc. (NASDAQ:SPT) with an Overweight rating and a $78 price target. Over the past 12 months, 8 Wall Street analysts have recommended to Buy the stock. Sprout Social, Inc. (NASDAQ:SPT) has an average price target of $62.89 and a high forecast of $78.
Sprinklr, Inc. (NYSE:CXM) is a complete social media management solution offering content management and analytics services. On September 6, Sprinklr, Inc. (NYSE:CXM) reported earnings for the fiscal second quarter of 2024. The company reported earnings per share of $0.09 and outperformed EPS estimates by $0.04. The company reported a revenue of $178.47 million during the quarter, ahead of market consensus by $5.01 million. The company reported a year-on-year revenue growth of 18.48%.
On September 7, Sprinklr, Inc. (NYSE:CXM) reported on expanding its partnership with Google Cloud to enhance and streamline customer experience using artificial intelligence. Sprinklr AI+ is set to integrate with Google Cloud's Vertex AI, providing brands with generative AI solutions in customer service, AI, and social media management. Users can import their models from Vertex AI and integrate them with Sprinklr to enhance productivity and efficacy. Sprinklr, Inc. (NYSE:CXM) CEO Ragy Thomas expanded on the importance of the partnership by stating:
"Our customers demand the ability to work with their preferred AI tools and partners and offering flexibility and choice is a major advantage. This expanded partnership with Google Cloud allows us to offer our customers access to their preferred generative AI platforms integrated with Sprinklr's proprietary AI+ focused specifically on deriving insights from unstructured customer experience (CX) data. Together we can help the world's most iconic brands leverage AI to break down silos and empower marketing, sales, and customer service professionals to serve customers the way they should in the new world."
Social media management can do wonders for businesses aiming to reach a wider audience. However, social media management is not a stroll in the park. In fact, most business owners make common social media mistakes. With that, let's take a look at the 20 biggest social media mistakes by companies in 2023.
20 Biggest Social Media Mistakes By Companies in 2023
Our Methodology
We employed a consensus-driven approach to determine the 20 biggest social media mistakes by companies in 2023. We consulted blog reports from 6 sources. These included Wishpond, Plexxie, Forbes, European Business Review, RankTracks, and AliDropship. This process enabled us to curate our initial pool of the 30 biggest social media mistakes by companies in 2023. We assessed the top 20 social media mistakes companies make based on the item count across all 6 sources. The list is in ascending order of the aforementioned metric. It is to be noted that all the articles were published in 2023. Items with the same count are placed together in the list.
20 Biggest Social Media Mistakes By Companies in 2023
20. Not Posting User Generated Content
Item Count Across 6 Sources: 3
Not posting user-generated content is one of the biggest social media mistakes companies have been making in 2023. User-generated content is a strategy enabling businesses to create content provided by customers themselves. Posting testimonials from customers is a way to bring focus to the consumer and a tactic to garner more engagement.
Using Meta Business Suite by Meta Platforms, Inc. (NASDAQ:META), Sprout Social, Inc. (NASDAQ:SPT), and Sprinklr, Inc. (NYSE:CXM) can automate your social media management.
19. Ignoring Your Competitors
Item Count Across 6 Sources: 3
According to our methodology, ignoring your competitors is one of the biggest social media mistakes companies have been making in 2023. Studying the way your competitors are dealing with their social media channels provides important insights into consumer behavior.
18. Not Engaging in Paid Promotion
Item Count Across 6 Sources: 3
Most social media channels allow companies to engage in paid advertising. Paid advertising directly takes your post to your intended target market. Not engaging in paid advertising can give your competitors an edge over your target market.
17. Posting Repetitive Content
Item Count Across 6 Sources: 3
Posting repetitive content is one of the biggest social media mistakes companies have been making in 2023. The average social media user tends to fall out of recent trends rapidly. Therefore, posting new and unique content is important to keep the audience engaged and entertained.
16. Not Using Visuals and Videos
Item Count Across 6 Sources: 3
According to our methodology, not using visuals and videos is one of the biggest social media mistakes companies have been making in 2023. Visuals and videos tend to garner more reach and engagement as compared to simple text-based posts. Not developing content that is aesthetically pleasing and appealing to your target market may have serious consequences for your social media reach.
15. Posting at the Wrong Time
Item Count Across 6 Sources: 3
Posting at the wrong time is one of the biggest social media mistakes companies make in 2023. Not keeping track of the active times of your users will ultimately lead to limited engagement on your posts. It is important to keep track of the best times to post.
14. Inconsistent Posting
Item Count Across 6 Sources: 3
According to our methodology, Inconsistent posting is among the biggest social media mistakes companies have been making in 2023. Companies not making content calendars often run the risk of inconsistent posting with no direction.
Using Meta Business Suite by Meta Platforms, Inc. (NASDAQ:META), Sprout Social, Inc. (NASDAQ:SPT), and Sprinklr, Inc. (NYSE:CXM), businesses can develop content calendars and schedule posts to avoid inconsistent posting.
13. Not Targeting Your Audience Properly
Item Count Across 6 Sources: 3
Targeting the right customers is essential. Businesses must identify the social media platform commonly used by their target market, and make highly specific content to the needs of their target market. Most businesses fail to develop a strong social media strategy because they neglect their target market.
12. Not Working With Influencers
Item Count Across 6 Sources: 3
Influencer marketing is now more important than ever. People not only follow influencers for their content, but they also rely on them for product reviews and feedback. Engaging with influencers can allow businesses to manage their reputation well and enhance their reach on social media.
11. Ignoring Trends
Item Count Across 6 Sources: 3
Trends are a common way to garner reach and engagement on social media platforms. Not engaging in trending activities and topics, will ultimately mean that users are not discovering your content on their feeds. This explains why most companies today engage in trending memes to stay relevant and boost traffic.
10. Posting Poor Quality Content
Item Count Across 6 Sources: 4
According to our methodology, posting poor-quality content is one of the biggest social media mistakes companies have been making in 2023. Not paying much attention to the quality of your audio, video, and posts will lead to a poor reputation for the business.
9. Neglecting Analytics
Item Count Across 6 Sources: 4
Every social media platform today allows companies to analyze their social media performance. Social media analytics also provide useful information about customer demographics and indicate the best time to post on your social media. Not taking these insights into account is one of the biggest social media mistakes companies have been making in 2023.
8. Not Using Hashtags Properly
Item Count Across 6 Sources: 4
Hashtags help businesses stay relevant, especially when it comes to certain topics or categories. For instance, a fashion business using relevant hashtags will help users discover its content easily. Most businesses make the mistake of not taking hashtags seriously. Businesses sometimes use irrelevant hashtags or disregard them as a whole.
7. Purchasing Followers
Item Count Across 6 Sources: 4
Purchasing followers is one of the biggest social media mistakes companies have been making in 2023. Purchasing followers can harm the reputation of a business. Moreover, doing so will not bring any engagement or sales to your page or business, organically.
6. Over Promotion
Item Count Across 6 Sources: 4
Social media is a great way to promote your brand and company, however, companies often make the mistake of over-promotion. Social media should focus more on the customer rather than the achievements of the business. Indulging in extensive self-promotion may be off-putting to the customer.
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Disclosure: None. 20 Biggest Social Media Mistakes By Companies in 2023 is originally published on Insider Monkey.
