You Need To Understand Social Media

I see too many businesses trying to sell stuff on social media channels in the same manner they use advertising.

Wrong way Mr/Ms Business Person.

Mediapost has some insight for you:

Importance of Brand Discussions on Social Media

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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