Connect with Consumers Through Your Brand Essence
Social media plays an important role in how consumers discover, research, and share information about industrial manufacturing brands. If social media is not a part of your brand development strategy, learn to embrace Twitter, LinkedIn, Facebook, and the likes because it will only lead to heightened company success. According to Nielsen, Sixty percent of consumers researching products learned about a specific brand through social networking sites. Additionally, Nielsen found that 53% of social networkers follow brands. It is cycle that feeds itself—and it’s evident that a social media presence is critical for communicating your brand essence. If you haven’t adopted a social media strategy, the time is now to do so.
Perhaps the biggest benefit of social media use is that it creates lasting brand loyalty. The Social Media Examiner states that 72% of marketers say they use social media to develop loyal fans. Consumers express loyalty through social media, and in turn promote your brand. This is beneficial because social media is associated with the largest shift in brand perception. With many people looking to social media for product reviews, the importance of a loyal fan base skyrockets. Customer experiences become public, so you want to make sure that consumers are sharing great things about your company. Conversely, bad experiences are shared on social media, too. One in four consumers shares negative experiences with brands on social media. We don’t have to tell you that the crisis management teams have to step in when some of these negative “reviews” go viral. Sometimes the story isn’t as bad as the hype, but once the hype gets hopped on and opinions fly, well, that gives new meaning to viral: it can be poisonous to a brand. And your brand essence gets pretty stinky. A brand consultant can confirm that social media can be as much a part of the healing process to get things back to status quo.
Social media also has high conversion rates, offering more opportunities for you to convert consumers into leads and leads into customers. A HubSpot article highlights the effect on conversion rates, stating that social media has a 100% higher lead-to-close rate than outbound marketing. Also, individuals exposed to social media content are more likely to increase their spending on a product than those who aren’t exposed. So, not only does social media convert more leads into customers, but it also is its own money maker. This is a cost-effective way to gain more customers and build brand loyalty. How do you evaluate your social media success to see if you are converting to the best of your abilities? According to the Social Media Examiner, this is achieved through monitoring social media exposure, influence, and engagement. Keep tabs on these three things and see how your brand essence evolves in the eyes of consumers … and their brand loyalty grows.
Still Not Convinced?
Numbers don’t lie. Here are some stats that explain how the purchase decisions of 38 million 13- to 80- year-olds in the U.S. are now influenced in various ways by social media:
- According to Marketing Tech Blog, 46% of web users look to social media when making a purchase
- 83% of B2B marketers say social media increases their brand exposure
- 37% of Twitter users will purchase from a brand they follow
- com states that 81% of people are more likely to take action from info shared on Twitter
- 23% of people who click on a promoted Tweet purchase something from the brand
It is no secret that social media affects your B2B marketing efforts in a positive way. Good news: B2B marketers who use Twitter generate twice as many leads than those who don’t. Bad news: only 38% of B2B marketers have a defined social media strategy. Get a head start on your competition and start utilizing social media! For starters, LinkedIn is the most used B2B social media site with 91% of B2B marketers using it, and Twitter is a close second at 85%. If you are not on these sites already, create accounts as soon as possible to start your brand strategy success.
At our Boston-based brand consultant firm specializing in B2B, Grant Marketing, we understand the importance of social media for branding. Not only does it increase brand transparency, but it leads to decreased marketing costs, better search engine rankings, and improved customer insights. Of course, social media is only one piece of the brand strategy pie. If you’re wondering how you’re doing overall, download our Brand Report Card. We’re happy to talk with you about implementing a comprehensive brand strategy for your company.