Some blog about their businesses. Some others update Facebook statuses on a regular basis to promote their coupons and deals. Yet some others Tweet every minute about what’s ticking behind the company’s curtains. Is it truly a big deal to adopt a social media marketing strategy and engage customers? Does all that drivel really matter? According to J. D Power & Associates, the answer is a resounding “yes”.
In the 2013 Social Media Benchmark Study based on responses from more than 23,200 U.S. online consumers who have interacted with a company via the companies’ social media channel, it was found that both social media marketing tactics and social media servicing had a profound influence on the customer’s buying decision. The study was aimed to create an awareness among companies on how to effectively integrate social media in various aspects of marketing engagements such as connecting with consumers to build brand awareness and affinity, in addition to promoting coupons and deals.
The study reiterates mainly the point that companies need to revamp their social media marketing strategies based on how their existing patronage and potential clients use the various social media that they plan to utilize. There was also found to be a marked difference in the demands and buying behaviors of various age groups. Whereas the youth tend to engage actively in both social media marketing and social media servicing, persons of middle age as well as senior citizens had a tendency to be more involved in social media marketing than servicing. The likelihood of social media marketing translating to buying decisions was comparatively low for the latter group.
A detailed perspective on the correlation between consumer satisfaction, likelihood of purchase, social media marketing strategies and the consumers’ perception of the company can be found at http://www.marketwatch.com/story/jd-power-and-associates-reports-poor-social-media-practices-can-negatively-impact-a-businesses-bottom-line-and-brand-image-2013-02-14