Social Network Engagement - Really? Vast majority are not really in love with your brand...

Makes a lot of sense and this should apply to Social Recruiting as well. People don't join groups or pages to be part of some Brand community that they love (CEO's love to believe that), its more for deals and discounts or in Recruiting (some real info about jobs and careers). There is going to be a small minority who love your brand but a vast majority have better things to do with their time...Interesting article below.

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In a world where brands are constantly fighting for attention, many marketers are asking themselves a key question:  What is the best way to impact purchase decision and brand loyalty? The answer they are likely arriving at is that they should engage potential and current customers via social media. After all, consumers are all about social media, right? Wrong.

The IBM Institute for Business Value found that 60-65% of business leaders who believe that consumers follow their brands on social media sites because they want to be a part of a community. Only 25-30% of consumers agree. The top reason consumers follow a brand? To get discounts – not exactly ideal for a company’s bottom line.

On top of trying too hard to engage with consumers via social media, marketers are generally pushing out too much information, causing people to over-think purchase decisions and making them more likely to change their minds about a product, be less confident in their choice and less likely remain loyal to the brand.

So what should marketers do? Here at Corporate Executive Board, we surveyed more than 7,000 consumers and interviewed 200 marketing executives across consumer brands and industries to find out. The answer: Simplify the decision-making process, so much so that consumers actually think less about the decision. Marketers can do that in three easy ways by helping consumers:

  • Trust the information they receive – providing recommendations by consumer advisors, ratings and reviews.
  • Learn effectively without distraction – simplifying the research process by offering clear and streamlined brand-specific product information targeted to each decision stage.
  • Weigh options confidently – making transparent buying guides and brand differentiated information easily available.

When used together, this approach is known as Decision Simplicity.

Not only is Decision Simplicity the number one driver of likelihood to buy, but the impact of simplifying purchase decisions for consumers is four times stronger than the favored marketing strategy of engagement.

In addition, CEB found that a 20 percent increase in Decision Simplicity results in a 96 percent increase in customer loyalty. It also results in brands being 86 percent more likely to be purchased and 115 percent more likely to be recommended to others.

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Don’t you think it’s time to stop overwhelming consumers with marketing information and cut through the clutter? Take  an unconventional approach – forget engagement, increase simplicity.

 

http://www.forbes.com/sites/patrickspenner/2012/07/02/marketers-hav...

Views: 224

Tags: media, recruiting, social

Comment by Sandra McCartt on July 3, 2012 at 1:21pm
Thanks for sharing Suresh, it is way past time for social media advertising to grow up, be what it is...advertising...then it will become effective information for a consumer to evaluate.
Comment by Suresh on July 3, 2012 at 7:56pm

Sandra, you are welcome.

What social media offers are some new sharing tools and people have become open to sharing their information.

Some of us who have been running websites or blogs since the early days of the internet (which is only 15 years ago) know we always had Customer engagement tools on our websites - forums, mailing lists, email, chat, blog etc. We didn't call it Social, but those tools still are valuable along with the new social media tools. 

Are the social media tools in themselves some magic pill (like some gurus claim), I don't think so. The tools themselves don't offer much differentiation, because everyone has them and can use them. After the hype dies down, Social media tools will continue to be useful but it will be just that..

The 1% or less companies that have the resources will call Social media successful and the rest will struggle making it improve the bottomline.

CEO's and Leaders, here is an advise..

If you (company or website) did not know how to engage your customers before these Social media tools arrived, I bet these tools by in itself are not going to help you.

Comment by Eric Smith on July 5, 2012 at 6:17pm

Great read, Suresh.

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