5 million high net worth investors (i.e. those earning in between $100,000 to $1million) from US and Canada are confidently using social media to take informed financial decisions, unlike non-social media users. They spend more than 48 hours a week on social media accounts.
Does the stats above good enough to set your mood to the rising tide of optimism?
Well yes, there is no denial that marketers’ optimism on investments sweeps as high as the average score of 69.7% rated on a scale of 0-100%.
No doubt, social media account is today’s societal norm for all generations to stay connected with desires, mind-set; each time with updated feelings from the core of the heart to the digital book (Facebook). Today, 96% of the world’s population is online in social media! Tweets as less as 140 characters tweeted in every few seconds reflect new promotional opportunity, an entrepreneurial hint or new business idea in public. Whether it’s a portfolio, article, promotional activity or a business update, ads in LinkedIn are 157% more trusted by users while 50% users connect with business colleagues via LinkedIn platform.
This lays a golden opportunity for emerging entrepreneurs & financial brands to improve their brand perception. Also, it serves as a solid fertile ground for brands to take informed financial decisions by integrating social media networks to business. Not surprising, the social investment of today is expected to rise bigtime in near future!
The benefits are endless.
About 41% of businesses have claimed to save time, money and traditional marketing practices through social media investments. This also pays in saving their budgets as they are profited by investing the sum on other online avenues. Needless to mention, the other opportunities that brands capitalize on such as brand promotion, brand exposure, customer advocacy, customer loyalty, site traffic, sales traffic, network engagement, product buzz, generating conversations, community building and more!
The potential of social media is being unlocked by many marketers to amplify their brand image. Now staying connected with target market 24/7 has become not a necessity but a brand attribute!
Let’s take a look at these three smartest brands that found phenomenal success leveraging the power of social media networking & investment.
Starbucks Coffee won just by asking customers what they want– This coffee brand managed to build a million dollar enterprise by simply exposing free customers’ idea and their feedback via “My starbucks app idea”. The brand leveraged mobile usage by asking them to customize their own drink & pay for in-store purchases via mobile.
IBM increased brand connections via inside-out blogging method- Rather than creating one blog per day, this brand created an entire network of blog links that expresses employee opinions, strategies & technology expertise operating at the backend of the company position. By showcasing internal business insights, the brand not only highlighted its people at the background, but also established a corporate dedication towards employees that attracted thousands of direct connections with their IBM employees.
Zappos + Twitter = success- It’s no secret how Zappos, the online shoe retailer has doubled up their traffic attracting over 5 million visitors and driving sales by merely integrating a Twitter account. This is what is called customer service via Twitter! With more than 400 employees on twitter, this brand during sales, generated huge public conversations via responding to tweets (each tweet with more than thousands of profile followers!).
Want to leverage your own social media efforts to join their ranks? Here are a few of social media tactics and strategies that can work for your brand success.
Come straight to the context point
Rather than investing your time and energy on generic ad campaigns, invest on solution-oriented specific ad campaigns. Hint: Invest upon “weather-specific seasonal ads that are 89% more likely to get clicked!
Strengthen your brand for all generations
Don’t forget that social media is a network of mixed demographics of audiences that spurs mixed sentiments. If you are ignoring public message, you might end up losing your potential customer. One way of strengthening your brand image is to highlight your followers & fans as guests of honour and addressing their sentiments positively. Simply by hash tagging, replying, or interacting with audience on a personal scale can create a lot more buzz and brand engagement.
Value changing mind-sets
As the saying goes “you cannot make everyone happy”, stands true for brands. But investing wisely on dissatisfied followers of your brand by capitalising on emotional brand connect & remembrance can re-connect them back. Rather than being a “pushy salesperson”, build a communication strategy that can pique their interest & satisfies their level of engagement. Invest on communication plans (be it a mail, phone call etc.) on how best to engage their audience.