Social media has changed not only how we interact with friends and family but also how we do business and interact with our customers. Companies of all sizes have joined in to see how social media can add value to their business and also increase revenue.
All marketing experts believe social media helps grow businesses. However, it has been very hard to quantify the direct effect of social media on sales. In the Infographic by Adweek and Social Times titled “Examining the current State of Social Marketing” written by Kimberlee Morrison, one of the challenges they found was linking social media campaigns to Sales/Revenue.
The report goes on to say nearly half of top marketers said they have not been able to demonstrate social media spending’s effect on their business, and only 15% of marketing officers have been able to demonstrate Social Media’s quantitative effect on their business. However, the evidence shows that Social Media Marketing does work. 54% of B2B marketers have generated leads from Social Media.
Being able to follow the conversion from Facebook likes to a long term customer has not only been hard to measure but also track.
“Social Media Credibility is the perceived image a customer gathers about a company based on what others are saying about them on social media.”
This includes how the company is listening, interacting and also responding to customers request and above all creating a buzz about their brand. So what does Social Media Credibility do for you? While those who follow and like your social media page may not be your customers they create a likability factor for your real customers to stay, interact and do business with you.
The real measure of your post, likes and followers on social media is how it makes new visitors feel about your brand. Today, before a company enters into any contractual agreement with another company, their social media presence is one way of doing due diligence to take a social measurement of what people are saying about the company and also how they are responding.
This gives a real life profile of the company far better than any self-written corporate capability statement.
Social Media Credibility is what makes you want to go to the restaurant in a busy downtown with a long line of customers waiting while others with similar services have no customers. In a way, it is like a celebrity endorsement of a brand but this time the celebrity is you and me who have used and experienced the brand. The endorsement is even more credible since we are not being paid to endorse the product or brand.
How do I measure my Social Media Credibility? Here are some thoughts to help determine your social credibility.
- How current and relevant are your posts?
- Do you have a good combination of text, videos and images on your social media?
- How well are you engaged in Social Listening and response to followers even when the comment is not in your favor?
- If your industry is very technical plan some fun post that get people talking outside your industry focus. This will make them curious about your company and connect to know more thereby building your credibility.
Professor Hari Sundaram at the university of Illinois is working on a study in which he is using an app to study the behavior of people who want to adopt new habits but somehow cannot seem to change. He gives an example on healthy eating saying, if you are about to go out for lunch and you get an alert on your phone that 7 out of 10 of your friends have just eaten salad this may influence your food choice.
This will help motivate you to attain your desired behaviors by the choice of food your friends made. In this instance, you are going to be influenced by the actions (likes) that you see or have experienced which will make you more likely to adopt a similar behavior.
In conclusion, we are influenced by the decisions people have made in the presence of social signals, knowing what your friends or other people are doing at a particular time will influence your choice.
In the context of Social Media we are influenced by our perception of a product of brand by how others are interacting with it. We may end up buying an item even though the people who liked it on social media, “just liked it”.
By Akwasi Oppong. Web This marketing
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