Marketing engagement on social media boosts revenue
The relationship between marketing and business success is nothing new, but recent data shows just how much a strong social media strategy can enhance a business’ bottom line.
Shopper social media company Collective Bias released research showing retail customers who are engaged on social media tend to spend more at businesses. In fact, Facebook fans of grocers who posted 10 or more times on the company’s Facebook page spent over $1,000 more each year compared to a typical customer.
“We’ve intuitively known that an omni-channel marketing strategy is the most effective way to increase sales,” Bill Sussman, CEO of Collective Bias,” said in a media release. “This study was conducted to help marketers solve measurability challenges when it comes to social’s role in driving sales. Identifying the link between a strong social program and bottom-line revenue helps clients better allocate their future marketing budgets.”
In addition to spending more, engaged Facebook fans visited stores 40 more times than average customers over the course of a year, as well as bought 125 more times during the same time period.
Essentially, consumers who are engaged via social media are likely to interact with a business more, resulting in greater revenue. While this study was focused on grocery chains, the benefits of engagement through marketing are clear for businesses across all industries.
At the same time, it’s important for businesses to remember that social media represents only one small piece of the overall marketing puzzle.
Finally, pay-per-click strategies, affiliate marketing programs, SEO services, and geo-targeted advertising – all this and more comes together to create an overarching marketing strategy. This makes it important for businesses to work with agencies that can provide a wide range of marketing services.