According to "S-Net, The Impact of Social Media," a social network study from ROI Research sponsored by Performics, 52% of respondents strongly or somewhat agree that voicing opinions on social networking sites can influence business decisions of companies/brands. The study reveals the inherent differences in why and how people use social networks among various categories.
31% of overall respondents purchase more from companies/brands that they like/follow than from brands/companies they do not. And, educational institutions, sports and entertainment top the list of most discussed categories on social networking sites.
Key industry-specific highlights for social media include:
- 74% of respondents who purchase entertainment products discuss them on social networks
- 53% follow travel companies/brands on social networking sites for coupons/discounts
- 43% follow electronics companies on social networking sites for offers to win "points" or online currency redeemable for products
- 42% discuss automobiles on social networking sites to compare prices
- 32% have made a sports-related product purchase as a result of seeing something posted on a social network
Daina Middleton, CEO of Performics, says "Customers expect, and are already participating in, a two-way dialogue... marketers (should) adopt strategies that engage them in every channel... across all platforms, devices and screens."
52% of respondents strongly or somewhat agree that voicing opinions on social networking sites can influence business decisions of companies/brands. For instance 43% who purchase alcoholic beverages discuss them on social networks and15% have purchased as a result of content on a social network.
The reasons respondents discuss these products on social networks are:
- To express satisfaction with a purchase... 36%
- To compare prices... 25%
- To give advice... 18%
The reasons for following the alcoholic beverage category are:
- They are loyal customers of the brand... 49%
- For coupons or discounts... 26%
- To identify with the brand... 23%
And, the desired brand interaction on the Network is:
- Availability of coupons... 34%
- Notification of sales or deals... 29%
- Information about contests or sweepstakes... 26%
This study reports findings, similar to those for the alcohol industry, specific to 18 different industries which include: alcoholic beverages, apparel, appliances, automotive, education, electronics, entertainment, financial services, food, healthcare/pharma, household, magazines/newspapers, non-alcoholic beverages, personal care, restaurants, sports related, telecommunications and travel.
Based on the study results, the report suggests best practices to make the most of social networks might be:
- Understand customer desire for brand interaction
- Create and adapt strategies to cater to participation expectations and desires
- Allocate resources to the most relevant and appropriate social networks
- Regularly monitor and measure social network activity
To request complimentary copies of the category reports or the summary of findings from the overall S-Net study, please visit Performics release here.
Social Media is one of the areas that we cab help you with at Cirrus ABS. Contact me at 260-255-HELP (4387) for help. You can also email me at SHoward@CirrusABS.com and visit our website for a more complete look at what we do.
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