Social Media Recommendation Is Social Media ROI
If you’re like me you were shocked and pleasantly surprised when you read this title of this post. There is a lot of unseen value in social media ROI. According to a recent study by the Internet Advertising Bureau, 90 per cent of consumers who interact with a brand on social media will recommend that brand to others. Talk about killer word of mouth advertising. This is a phenomenal stat in and of itself but what does this huge number mean to business owners who only value ROI in terms of monetary return on investment?
I believe that this study shows immense value in social media ROI and proves that social media is a vital element to any brand’s marketing strategy.
“The IAB study shows that, when trying to create deeper emotional connections with consumers, social media is an essential channel for brands and consumers to have meaningful two-way conversations, making the strength of connections that much stronger.” – Kelly Brewe (IAB’s director of marketing and communications)
Ian Ralph, the director at marketing sciences who conducted the research, adds, “Our research shows that to create an emotional connection brands really need to provide clear, timely and, most important of all, relevant content that develop a conversation. Interestingly, we also found that brands really shouldn’t be afraid about having their products on show and of linking up their social media activities to their business objectives. Social media has the potential to turn brand customers into brand fans.
“By making people love, not just like your brand, you’re more likely to drive future purchases and increase sales.”
It’s difficult to argue against these points in terms of the value that social media marketing brings to business, brands, bands, and service providers today. Social media ROI shouldn’t be questioned, it should be exploited.
The IAB Study on Social Media ROI
This study was focused on fast-moving consumer goods (FMCG) companies one of which includes Heinz. They found that “social media can drive ROI by driving brand sentiment, encouraging consumer engagement and increasing brand loyalty.” Isn’t that an essential part of what you’re striving for with your digital marketing budget?
The IAB used data provided from each brands social media pages and secured over 4,500 survey responses during a two month period. To enhance the study they conduced 800 interviews to endorse their findings.
Social media engagement, interaction and recommendation is ROI and can build your brand and business in ways you’ve never imagined. We should talk about tactics to build your social media ROI and digital marketing strategy.
For now you can read more about this study here.