As consumers spend more, social media acquires importance according to Nielsen. Marketing research reports point to the impact social media has for brand building and creating an audience connect. Product reporting has been impacted by social media in diverse ways in the past 5 years. It plays a critical role in how consumers discover, share and research information about products and brands. Consumers researching products online are increasingly relying on social networking sites. Active social media users can review products online and create their own reviews of services and products. Social media plays a vital role in consumer generated reviews, product rating and information.
Social Media Platforms: Where Brand Loyalty is Established
Research in the past half a decade has shown that social media has become an instrument for customers to express loyalty to their brand or product. Many reap benefits from brands for promoting products. Among those who share brand experience through social media, discounts and affiliate marketing program benefits are common. Nielsen conducted an online global survey in 2000s which found that 2 of 3 responders said they were completely or somewhat influenced by social context of ads.
Building a Brand: The Role of Social Media
Social media also guards the reputation of the brands. A majority of social media users write reviews to protect others from bad experiences and also transmit negative feedback to the inadequate brand. Social media is also used to engage with brands on consumer service levels.
Consumers as Brand Advocates
An interesting trend in product reporting is that consumers are acting as advocates or brand ambassadors for products through social media platforms. Active social networkers follow brands for recruiting fans and followers to spread word of mouth publicity about services and products among consumers who compose product reviews online. Social media also helps brands to collaborate and product improvement recommendations to be received.
The Age of Customisation
In this day and age of bespoke retail, customisation is very important. That is why consumers who write product reviews online ensures a recognition for the brand. Social media users can seek customisation online and collaborate with their favourite brands. Brand awareness, website traffic and engagement are a wonderful start. But social media marketing is important too. Social media has the ability to impact people in various ways and ensure that people react in specific manner with positive buying behaviours for products. Social media impacts consumer behaviour.
Social media has the ability to impact customers across different ranges and races. A lot of variation is there in terms of demographics on how to use the internet. Social media lends an important helping hand. Social media is prevalent and useful for understanding different demographics. Social media works with millennials and many consumers are influenced by social media in their purchases. Which product categories work best on social media are an important market intelligence. Social media is a powerful force business owners cannot overlook. Social media connectedness is important for the business and the marketer both. Establishing social media presence ensures consistent product reporting.
Business owners can encourage people to use social media while shopping. Social media influences behaviour in terms of customer purchases and attitudes towards products in different age groups. Business owners refine their social media marketing strategies to get a boost in sales.
Effective social media campaign has a positive impact on brand building. Social media tools work really well for business. Enhanced brand recognition and thought leadership on social media makes brand exposure widespread and increases company credibility.
Increased Trust, Leveraged Credibility
Social media has changed business reporting to the point where brand trust and company credibility are influenced by social network platforms. Social media offers a competitive advantage in conversion following an internet research. A potential customer narrowing down the preference for a certain product relies on reports on social media to make a choice. Engaging with social media is more than just joining a conversation. It is also purchasing the product in question and driving sales further.
Navigating the New Digital Divide
A Deloitte report in 2011 showed that more people who used social media were likely to shop for a product. Many other famous market research studies have established that consumers depend on social networks to guide purchase choices.
Obvious expertise, increased credibility, social proof, clear brand visuals and messages and contents that display competency are the result of social media analytics in the context of product analysis. An effective social media campaign has a huge and positive effect on brand building. Research has shown those who don’t use social media lack the expertise to employ these tools for business purposes. Your business brand can be positively impacted by digital factors. Social media is here to stay. Consider that more than 800 of Fortune 1000 companies manage social media accounts and receive over 10 million users. According to the Pew Internet Project, a vast majority of US citizens use social media sits. The story is no different in other countries like EU and the UK. According to Global Web Index, the average user online logs in for 12 hours on social media channels per week. Consider that FB has 1.4 million monthly years or 9 of 10 US companies are using social media.
A McKinsey global institute research found that social technologies such as social media channels unlock US $1.3 trillion in business value. Only a small percentage of businesses are working on the opportunity. Marketing is just the start to social media. Social media platforms are even being used to shape customer experience and product development as well as sales and HR for businesses worldwide.
With an increasing number of social networks, it becomes important to consider social media education and on boarding in this context. Social media is expanding at a massive rate. It has a huge impact on the business of marketing. Social media sites represent a huge potential for brand building and product awareness. Creative ads via branded apps and podcasts is an added personal touch to the company’s marketing campaign.
Social media platforms offer a chance to spread word of mouth publicity and grows at a massive rate even as the years advance. Liking a brand on FB can become viral. Public looks to social media to help them in their buying decisions and product evaluations. When reviews about products reach consumers through social media, this can influence buying behaviour. Companies can also utilise social media to find new and innovative means of improving products or services on offer.