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Why The Fastest-Growing Companies Rely On Social Media
February 25, 2020
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The latest annual report by The Center for Marketing Research, University of Massachusetts, Dartmouth, uncovers how social media continues to be increasingly important to business success.
9 in 10 interviewed say social media (when done right) is the conduit to creating more personal relationships with consumers/fans of the brand, an effective platform for building on awareness.
84% say social media is also effective in generating sales (up from 80% in the previous year's report).
Remember – these are the fastest-growing companies in America noting this:
Yet what’s interesting (but not surprising), while social media is credited as an essential asset for business success, - only 43% say they have some sort of social media plan in place.
Meaning 6 in 10 companies are winging social media.
Why that matters:
People see social media as a gateway to new experiences (especially with brands), and we stunt our growth in becoming a useful, multi-faceted brand when we don’t make the time to address strategic planning for social.
Nothing good comes from winging it.
When an actual plan is in place, guided by proven-winning tactics, fundamentals and techniques – we can:
Expand Fan Interaction
Creating enduring connections generates greater loyalty; differentiating our brands from competitors/distractors.Convert Fan Interest Into Tangible Results
Gaining an actionable understanding how to activate fans off social onto our other touch points (FM/AM stick, apps, emails, etc…), our events, client products & their events, etc. strengthens the immediate and long term health of our brand(s).Develop an Incremental Revenue Stream
Learning out how to protect client outcomes, align correct KPI to objective, shape paid posts with Social Media standards, and best tactics for ad creative, etc…builds on our authority as a social media marketer for advertising partners.
But also – remember this:
Those are important tangible returns from social.
Social media is also a critical intangible part of our brand(s).
Howard Schultz, former Starbucks CEO, best explains intangibles:
“A well-built brand is the culmination of intangibles that do not directly flow to the revenue or profitability of a company, but contribute to its texture. Forsaking them can take a subtle, collective toll.”
It’s time to get a plan in place.
We can show you mighty tangible return – but don’t get too caught up in the weeds of ROI it stops you from creating a plan at all.
Great brands are also draped with intangibles – finding ways - every day - to remind the audience they are an elemental part of the brand.
But it all starts with an actionable understanding, and a plan.
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