It’s no surprise that just about all retail brands have a presence on Facebook and Twitter. But what is shocking is that the follower growth rates for the two social networking giants have screeched to a halt.
Yes Lifecycle Marketing recently polled more than 200 retailers across five categories—beauty, apparel, big box, electronics, and home goods—and found that 91% of retailers have a presence on at least two social channels. Of the five categories, 98% are on Facebook, 91% are on Twitter, 79% utilize YouTube, and just 43% engage with their customers via Instagram—despite its 237% average follower growth rate.
As a matter of fact, only big box and home goods retailers saw significant Facebook follower growth. However, the data shows that apparel brands were the most socially connected companies with 86% present on at least four channels and 60% present on all five channels tracked (Facebook, Google+, Instagram, Twitter, and YouTube). On the other side of the spectrum, only 40% of electronics brands had a presence on at least four channels.
“The focus on Facebook made sense years ago, but Yesmail Market Intelligence illustrated how follower growth for that channel has plateaued for most retail categories,” says Michael Fisher, president of Yes Lifecycle Marketing. “The answer isn’t necessarily to shift resources, but rather [to] turn a serious eye to audience preferences and return on social investment. Social media has moved past the experimental phase, and retailers must know their audience and know the ROI of their efforts.”
But just because Zuckerberg’s creation is down, that doesn’t mean that it’s out. Despite its stagnant growth rate, Facebook did lead the way with an average of 2.8 million fans per page. Instagram was next with a 300,000 average; Google+ has 270,000; Twitter boasts 262,000; and YouTube sits in last place with 28,000—less than one tenth of Instagram’s average.
