Saturday, 3 January 2015
The Secret To Mining Gold In The Social Media Revolution
In one of my recent posts You Can’t Understand A Conversation That You Aren’t A Part Of... an industry colleague Martin (Marty) Smith jumped in the conversation and sparked much interest! It struck me that the Social Revolution really has created new and different consumer behaviors... forcing "Business As Usual" to change...
We've seen today’s market begin to understand that Social Media plays a large role in brands and businesses remaining relevant, earning creditability, engaging customers and attracting new business... As a result, consumer behaviors are now drastically different which has moved us into an era where brands and businesses must interact directly with their customers - on the consumer's terms. Unfortunately, we aren't seeing brands and businesses champion the desire or ability to do so.
In light of this conundrum, the goal here, is to help brands and businesses understand how Social Media has changed consumer behavior, why Social Media is where consumer conversations are happening and then, to provide specific ways for brands and businesses to interact with, respond to and learn from their social audiences.
Social Media Has Changed Consumer Behavior
Statistically speaking, Social Media is a key locale where consumers are making up their minds about certain brands, products, and services while also expressing how they feel. It is important to know that 65% of people learn about new products, brands and services via Social Media networks while 70% of these people hear and respect others’ experiences regarding these products, brands and services.
With the combination of 65% of consumer’s conducting significant online research prior to any type purchase and the known fact that 90% of consumers trust peer reviews over advertisements proves that Social Media has created what Eric Qualman has identified as a ‘world-of-mouth’ effect rather than the old school ‘word-of-mouth’ effect.
Another thing to consider is why we use Social Media networking; it actually impacts the way we act and feel. In light of this, The Nielsen Social Media Report of 2012 states that 76% of people feel mostly positive after networking via Social Media. One reason this is the case, is because it empowers people to know what is going in their world... Keeping up with brands and businesses along with their peer's experiences create a consumer whom is eager to try out a new brand, service or product... or not.
Social Media Is Where Consumer Conversions Are Happening
The lines between Marketing and Customer Service have become blurred with Social Care or Customer Service via Social Media. This has created an immediate imperative for brands and businesses to not only be active on the Social Graph but to also be ready and willing to react and interact on all Social Media networks.
Just as customers choose the information they want to view and when and where they want to view it, they also choose what they voice as well as when and where they make their voice heard. According to the The Nielsen Social Media Report of 2012, 53% of people compliment brands and businesses on Social Media networks. While on the other hand, 47% of the time, people express concerns, make inquiries and/or complain about brands and businesses the say way.
We recently reviewed The Great Social Customer Service Race Study and while knowing that 47% of Social Media users engage in Social Care, the alarming truth of this study is that if these big brands aren't getting it right - the rest of us are most likely missing the mark by a long shot.
Social Media Requires A Two-Way Conversation
Interact With Your Social Audience: With proof that interaction with social audiences is critical The Fish Firm has provided a few specific ways to do that with basic digital conversation tips.
- Talk to them by replying to their comment(s)
- Be willing to consider what they want
- Join or start social conversations by asking them questions
- Comment on what your fans and followers say
- Listen to their responses
- Watch their reactions
- Share their comments or information
- Thank them for their engagement and interaction
Respond To Your Social Audience: Using a Social Media manager tool such as HootSuite, set up streams with key words related to your brand, business and industry to find valuable information.
- Monitor what is being said about your brand or business indirectly
- Find opportunities to help a person when no one else is reaching out via their inquiry
- Start conversations among those talking about things in which you can be of value
Learn From Your Social Audience: The Fish Firm also recommends establishing internal processes to expand your social reach, leverage new found knowledge and create new knowledge.
- Mold and refine your findings from your interactions into messages aligned with what you’ve heard and seen
- Request your audience's input on new products or services with an online poll or survey
Over the next few years, businesses that rise to the top will do so by embracing these concepts of interaction! As Marty so eloquently stated... "The point we can safely say is the brands and businesses that make connecting with their social audience a priority will mine the gold of the social media revolution!"
What is your interaction experience with your social audience? Be sure to comment down below. If you have any other interaction ideas, please suggest away!!!!!!!
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Elynn Fish is the Founder and President of The Fish Firm of which specializes in Turning New Media & Modern Marketing Into Money by helping small business owners and entrepreneurs increase online sales and attract new business.
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