Social Media: A Major Component of Today’s Business Strategy

Social media is all about connections – searching for them, establishing them, and maintaining them. Business, too, is very much about the search, the establishment, and the maintenance of client and sales leads. It’s a natural progression for businesses to use social media as a way to reach customers and increase revenue. Now more than ever, businesses are effectively adapting social media as an increasingly larger component of their overall marketing strategy.

Consider these statistics:

• According to a recent blog post on The CMO Survey, executives reported 7.1% of the overall marketing budget for their company was spent on social media. Over the next five years, this number is expected to increase to 17.5%.
• Marketwatch.com reported a recent survey by Socialware revealed that in 2010 only 57% of respondents knew if their company had a social media policy whereas just one year later, that number rose to 80%.
• Of the respondents to the 2011 Social Media Marketing Industry Report, 72% felt social media increases website traffic, 62% said social media improved search rankings, and 58% of small business respondents felt social media reduced marketing costs.
•  In a group of statistics presented at AG Beat, 47% of all Americans use at least one social media site – up from 26% just three years ago.

Why Social Media?

Social media use by businesses is on the rise for several reasons. Customers want to feel a personal connection with their favorite brands of products and services, and a social media platform gives them just that. Social media provides a user-friendly forum for questions and concerns. A business can then quickly and easily respond. In turn, this action strengthens that connection and improves customer service.

Social media platforms are also an easy and effective way for businesses to gather customer feedback on new and existing products and services. This feedback can also be used to assess the needs and wants of a company’s target market so adjustments to products and services can be made accordingly. The cost effectiveness of social media has been proven again and again. Startup costs are extremely low and even free in many cases. Businesses commonly opt to hire a firm to manage their social media platform, but that investment is well worth the return. The connection social media forges between a company and its clients serves to build trust, which along with elements, such as branding and a good reputation, is invaluable.

Your Social Media Strategy

Has the use of social media increased as a part of your business’s marketing strategy and, if so, how much? Share your thoughts and experiences in the comments section below. If your company is new to social media and needs help getting started, please contact us to get started.

                         

Carithers Flowers Case Study: Benefits of a Facebook Fan Page

In today’s business climate, it’s almost unheard of for a business to be without a website. Now, it’s even becoming increasingly common for a business’s Facebook fan page to be featured right next to that WWW address. If you’re wondering what specifically a Facebook fan page can do for your business, consider this brief case study about what can happen when flowers meet Facebook.

Carithers Flowers is an award-winning, family-owned florist that offers a beautiful variety of floral arrangements as well as seasonal and event-themed gift baskets. Voted Best Atlanta Florist, Carithers puts community and customer service first. Recently, Carithers premiered their custom Facebook fan page and has been experiencing some great results.

A Win-Win for Carithers and Customers

The custom Facebook fan page has not only yielded benefits for Carithers, but their customers have also recognized the value of having this two-way communications channel. Elements, such as interaction and immediacy, illustrate how those benefits create a circular effect in which everyone comes out on top.

In a blog entry posted earlier this year, Charles Carithers expressed pride in not only Carithers’ brick and mortar storefronts, but he also praised Carithers’ online presence. These Internet shopping experiences have been designed to have the same level of personal, high-quality customer service people have come to expect from Carithers. Facebook is a user-friendly and enjoyable platform in which customers can interact with the Carithers Flowers team and easily find exactly the arrangements or gift baskets they are looking to buy for just about any occasion.

The Fan Page Advantage

While the Carithers Facebook page has many aspects in common with the Carithers main website, including photos, videos, and information about current specials, the Facebook fan page also has something that can’t be found on that traditional website: an open forum for shared experiences on the fan page “wall.” The wall is quickly and easily updated with everything from unsolicited customer testimonials and current promotions to upcoming events within the community. The importance of customer testimonials cannot be overstated. A sincere positive comment from a satisfied customer can often make all the difference.

Additionally, customers can not only communicate with Carithers on the Facebook wall, but they can also communicate with one another. Fans of Carithers on Facebook receive the benefits of this community as well as the option to be instantly updated on the latest specials, events, and news from Carithers. This community offers customers increased accessibility to Carithers, which, in turn, results in increased traffic and business at Carithers’ website.

The Facebook fan page is also a convenient hub with links back to Carithers’ web page as well as to YouTube, Twitter, and specific tabs on the Facebook page, which are organized by holidays and events.

Taking a Page

Are you a business with a custom Facebook fan page? What have your experiences been? Please share your comments and stories with us in the comments section below, or feel free to contact us with any questions if you’ve been considering setting up a fan page but may need some help getting started.