In a five category research by Forrester, a study commissioned by Wildfire, with engaged Social Network users, there is a significant correlation between Intent to Purchase and Brand Preference and Brand Interaction by Social Network followers and engaged users.
Likelihood to purchase and recommend is higher for customers who engage with Brands in one of the Social Networks.
Social Network Users find social ads as the most common way to find out about new products and services.
Based on regression modelling the study mapped the social media behavior with key metrics such as purchasing, recommending and preferring the brand. In CPG category the lift in brand preference is as high as 17% with Social Media engagement.
Seeing ads on Social networks is the best way to find out about products and services. As high
as 41 % of users cited seeing ads on Social network as the way to discover new products and services. Customers engage with brands after they have made a purchase, however, they use social tools at each stage of path to purchase.
The most popular way to research about products and services is Search Engines followed by Social Networks. Websites and Social network branded pages are most important for post-purchase interaction.
Frequency of Interaction has an impact on the number of purchases with Daily users being twice as likely to make a purchase compared to monthly users. Likelihood to recommend and favorable brand perception increase for frequent users of social media.
1. Messaging and social media tactics for each stage of customer path to purchase should be mapped with customer priorities for engaging the buyer.
2. Use multiple social networks to engage customers with presence on review websites, Influencer blogs and social media communities.
Marketers could consider Native Advertising on popular sites for improved consideration.
3. Content is the key draw in Social Media. most customers choose to follow brands for information on new products while most follow brands for interesting content.
4. Regular updates create stronger engagement and most brands have a content calendar to keep the flow interesting.
5. Use Social Media channels with other channels to create integrated marketing programs.
Source : “Engaged Social followers are your Best customers” A Forrester consulting WhitePaper commissioned by Wildfire