HOW UTILIZING SOCIAL MEDIA CAN ENHANCE BRAND IMAGE AND CAPTURE NEW CUSTOMERS Why Use Social Media?
Once Market Leader <ul><li>Once a Market Leader, Woolworth fail to capture new ways of selling their wares and changing with the times, it finally went out of business in 2001. </li></ul>
Here is an example of how a traditional retailer has utilized social media to influence and share content with their customers <ul><li>Today’s retailer is expected to not only have brand awareness but is expected to allow consumers to have a stake in what promotions and marking they receive or reject. </li></ul><ul><li>Vehicles such as Facebook and Twitter allow almost instantaneous feedback from the customer on their shopping experience. </li></ul>
Social Media Demographics and Income <ul><li>SOCIAL MEDIA HAS A WAY TO CONNECT BUSINESSES WITH CUSTOMERS AS NEVER BEFORE. THE AVERAGE USER ON SOCIAL MEDIA SITES IS 37 YEARS OLD WITH AN AVERAGE ANNUAL INCOME OF $50-75K. BEING SOCIAL MEDIA SAVVY HAS IT’S BENEFITS! </li></ul>
<ul><li>TWITTER HAS ALLOWED CUSTOMER’S TO FOLLOW THEIR FAVORITE BRAND AND RECEIVE EVERYTHING FROM EXCLUSIVE PROMO CODES TO EXCLUSIVE PRODUCTS. </li></ul>Twitter Phenomenon and Marketing Strategy
Successes of utilizing social media <ul><li>Social Media is fast becoming a way capturing customers that were traditionally limited by physical means. No longer, traditional retail is the only way to measure how may people visit your store, or who recommended your product. Social media is very vital to adding that one additional customer ie dollar. </li></ul>
<ul><li>Top Consumer Brands in Social Media </li></ul><ul><li>How can you get your brand in the top ten? </li></ul><ul><li>Most Social Media Users follow five brands. Is yours one of the five? </li></ul>Top Brand Awareness and Followers
Top Brand Awareness and Followers <ul><li>By having a social media presence, companies can track and monitor those potential customers and follow the potential revenue dollars. Most customers that either like or follow their favorite brands, will more than likely make their next purchase from them. </li></ul>
Mobile Apps and Social Media <ul><li>The use of smartphone, such the Apple Iphone has created a hybrid of mobile application and community shopping. Now you can shop and have your online community critique your clothing, even before you wear it! This is an example of companies who are utilizing technology and social media in ways never thought possible, with traditional marketing. </li></ul>Mobile Applications and Social Media Merge
Useful Statistics for Utilizing Social Media <ul><li>Here are some statistics that are very interesting in how social media plays a huge part in our everyday lives from how we interact socially to our buying habits. Successful companies are looking for customers to drive a targeted buying experience via social media. </li></ul><ul><li>80% of Twitter usage is outside of Twitter…people update anywhere, anytime…imagine what that means for bad customer experiences? </li></ul><ul><li>25% of search results for the World’s Top 20 largest brands are links to user-generated content </li></ul><ul><li>34% of bloggers post opinions about products & brands </li></ul><ul><li>78% of consumers trust peer recommendations </li></ul><ul><li>Only 14% trust advertisements </li></ul><ul><li>Only 18% of traditional TV campaigns generate a positive ROI </li></ul><ul><li>90% of people that can TiVo ads do </li></ul><ul><li>In the near future we will no longer search for products and services they will find us via social media </li></ul><ul><li>Successful companies in social media act more like party planners, aggregators, and content providers than traditional advertiser </li></ul>
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