Wikipedia ranks highest in social media consumer satisfaction, MySpace is lowest

While MySpace was once the most widely used social networking site, it's now on the decline, losing ground to both Facebook and Twitter. A new study shows one reason for the platform's low activity rates: poor customer satisfaction.

ForeSee Results, in conjunction with the American Consumer Satisfaction Index, recently found that MySpace ranked the lowest in customer satisfaction rates among social networking sites. The social media industry overall scored 70 points, while MySpace was scored 63 points.

The site was only one point behind Facebook, which ranked fourth in customer satisfaction with 64 points. Common issues with the site Facebook or MySpace included privacy concerns, navigation troubles, annoying applications and unintuitive news feed controls. Despite low satisfaction rates, Facebook can be used as a huge marketing tool by many businesses - 16 percent of consumers use the site to seek out product recommendations.

Meanwhile, Wikipedia was the most popular, scoring 77 points. Of the respondents, 15 percent used the site for product research.

The product-pushing potential of social media was also observed in a study conducted by Chadwick Martin Bailey. According to the report, more than 50 percent of Facebook users have bought a product recommended to them through the site.