Pinterest and YouTube Are Getting Thumbs Up, While Facebook Failed to Improve Its Reputation, Ranked Lowest In Consumer Satisfaction [Report]

Facebook, among all the social media platforms, scored the lowest in social media customer satisfaction study. University of Michigan's American Customer Satisfaction (ACSI) carried out research to study consumers satisfaction regarding social media platforms.

After a decline in 2018. Customer satisfaction has improved overall for social media but still is not up to the marks, according to ACSI. Forty-six industries were tracked out of which social media was among the bottom 6, one of the lowest scorer in the index of customer satisfaction.

According to the report which is based on 300,000 respondents, 70% of U.S. adults use social media to stay connected to their friends but are more concerned about their online privacy. They expect that the leading social media companies to take action against security issues on their platforms.

Financial services industry self-regulated the trade groups as did by the FINRA. Social media companies need to do the same, or U.S. lawmakers might take action due to political pressure and enforce strict privacy laws, as of the European Union.

Facebook's reputation was hurt the most after Cambridge Analytica scandal, and thus, the company needs to work more on its privacy. It managed to score 63, with a 6% drop in customer satisfaction. It was also accused of censoring political speeches, dispersal of fake news and allow foreign interference in the U.S. elections.

Recently, Facebook paid $5 billion fine for violating an agreement that was signed in 2012. A complaint against false disclosures and settings that damaged user privacy was filed against the company.

Though a substantial amount has been paid but critics think more strict steps need to be taken for consumer privacy. Despite the law customer satisfaction, the platform is growing and generating massive revenue. In Q2, the company gained a 28% revenue to $16.8 billion. Reports also disclosed that there had been an increase of 8% in the use of Facebook's app, worldwide.

Instagram scored 72 in ACSI study showed that platform also needs to improve its reputation. It is considered the steady source of revenue for Facebook. The exact results have not been shared of Instagram, but Chief Financial Officer Dave Wehner in April said that 32% yearly increase in ad impression has been mainly because of Instagram Stories, Instagram Feed, and Facebook News Feed.

Pinterest however, scored the most for customer satisfaction due to its appropriate variety of content. The platform's ads were the most acceptable than of any other platform and had top scores for its mobile apps as well, as per the ACSI report.

YouTube had a 4% increase in customer satisfaction, scoring 78, being second on the list. Whereas, Wikipedia witnessed a 4% decline to score 74. Snapchat was ranked for the first time and scored 71. Linked and Twitter had a tie, and both scored 69. Tumblr, on the other hand, decreased by 6% in customer satisfaction and reached 64.

The interesting part to note is how social media platforms are maintaining their popularity despite an apparent decline in customer satisfaction.

Pinterest and YouTube Up, While Facebook Ranked Lowest In Consumer Satisfaction Report

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