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Instalogic Business Logic

Cost of Ignoring Social Media

18/04/2013 posted in Marketing Solutions

Have you been ignoring your social media side of the bizz?

According to a Bain & Company survey of over 3000 consumers, “Customers who engage with companies over social media are more loyal and spend up to 40% more with those companies than other customers.” Personally I think, if I can’t find you on a social network you are not worth my time...statistics are showing the same thing, A survey conducted by Kiss Public Relations says, 51% of those questioned were not impressed and view a company negatively if they couldn’t find the company on a social network.

Having a Facebook or twitter is great, but if you don’t update it or engage with customers it is no advantage to you at all, and will defiantly not be enough to keep your customers coming back for more. You need to be focused on actively listening, engaging and responding to customers. Showing off products each week won’t get you far. Yet most businesses are losing many opportunities to engage customers. The one thing to stand out across most social networks is that companies miss or mishandle up to 80% of customer engagement opportunities, and a disregarded opportunity means lost revenue.

Read through this infographic and ask yourself: is the Cost of Ignoring worth it?

Sources:

Kim. Project Bullhorn: http://www.projectbullhorn.com/the-cost-of-ignoring-the-social-side-of-your-business/

Kiss Public Relations: http://www.kisspr.co.uk/news/927/over-half-of-people-are-not-impressed-if-they-can%E2%80%99t-find-a-brand-or-company-on-social-media-according-to-kiss-social-media-interaction-survey-2/

Chris Barry, Rob Markey, Eric Almquist and Chris Brahm. (September 11, 2012) Putting social media to work. Bain & Company Insights. From: http://www.bain.com/publications/articles/putting-social-media-to-work.aspx

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