If you’ve had your doubts about the marketing effectiveness of your social media presence, doubt no more. A recent study by University of Buffalo assistant professor of marketing Ram Bezawada shows that customers who engage with a company social media spend approximately 5.6% more than those who don’t. Kevin Manne posted “Social Media Can Boost the Bottom Line” in the Society and Culture blog at Futurity.org about the study, which will appear in Information Systems Research.
According to the story:
“Bezawada says there are a number of ways businesses should engage customers to achieve the best results.
‘Social media activities help strengthen the bond between the customer and the firm—and boost financial performance,” says Bezawada. “When building communities, businesses should craft personalized messages, encourage member contribution, integrate knowledge about customers from both online and offline interactions, and create specialized sub-communities for customers looking for premium and unique products.’”
The study compared customers’ Facebook activity on the company’s page with their actual purchases at a large specialty retailer in the northeastern United States to arrive at 5.6% figure, according to Bezawada.
A professional social media consultant such as ArnoldIT can help you create the right social media presence to engage your customers. There’s now proof that doing so will increase your company’s bottom line.
Laura Abrahamsen, January 25, 2013
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