80% of consumers are more inclined to buy from a business because of their presence on social media.
Social media has changed the way businesses and brands communicate and engage with customers. A recent study by the Internet Advertising Bureau UK found that nearly 80% of consumers would be more inclined to buy more often in the future because of a brand’s presence on social media.
Speaking of the social media revolution, managing a flexible presence on each of the ‘big four’ (Facebook, Twitter, LinkedIn and Google+), has become a must for brands and marketers striving to bring their business up to speed. What better proof than 665 million of daily active users on Facebook and over 500 million registered accounts on Twitter. Moreover, not having a social profile on platforms that your customer base are using—such as Instagram, LinkedIn, Pinterest, Tumblr, and Reddit—would be a strategic miss for those companies looking to reach greater exposure in the digital market.
It’s all about understanding your customers. Five years ago we would have told a team of accountants to avoid Facebook and focus on LinkedIn and Twitter… now Facebook has become a great tool to engage with people in and out of the professional world.
Social media is ever-evolving, most companies now have a presence on at least one social media channel and are interacting directly with consumers. By engaging with these consumers on social media, brands almost always see more website traffic, increased brand recognition and (if managed well) improved customer satisfaction.
For small businesses, knowing how to capitalise on this is crucial. Emerging social media platforms are also making a huge difference to how small businesses market themselves.
Social media continues to evolve and brands have an ever increasing need to understand the ways in which consumers use various platforms to achieve social media marketing success. Different demographics, attitudes, and behaviors affect which social media platforms consumers will use, how often they check them, and how engaged they are on them. Some brands and organisations are aware of their targeted audience and which social media channels they (consumers and potential customers) use—and how—to shape their social media campaigns for success.
Social media is a huge opportunity for any business looking for an audience, but it isn’t just another advertisement space. You have to earn people’s attention. This isn’t something you can buy. Social media isn’t a ‘modern billboard’ where brands post something and everyone has to see it. People can ‘unfollow’ in an instant. Companies/brands have to earn their trust and get them to agree to be part of the conversation. To succeed you must walk the walk, as well as talk the talk.
Social media is a highly valuable tool for retailers and has, arguably, proven to be a significant direct sales channel. Though it cannot be tracked in traditional ways, social media is indeed valuable to retailers for engagement, brand awareness and influence that unquestionably affect sales. With the advent of social media companies now get much broader, deeper data and can find out more about how people are using their pharmaceutical products in a different way from the past, and it’s useful for such companies to have that unstructured data.
For retailers, it is no longer a case of simply stocking shelves with desirable goods and waiting for shoppers to flock through the doors. Rapid developments in technology are changing the game. Consumers are becoming more demanding and less willing to tolerate failure. They want a seamless shopping experience however they interact with a retailer. They may check out the company’s products on their mobile on the bus back from work, then wish to continue on the same page on their tablet or PC at home. That requires considerable technical prowess in managing the customer journey on different devices.
Social media marketing will continually evolve as more networks are added, revised, expanded and changed. Social media will continue to grow in popularity as more people become active.
How various brands (whether or not) take advantage of the advancements in social media will shape future enhancements and the success of many businesses for years to come.