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The Business Case

Understanding the Two ROIs of Social Media Social platforms like blogs, Twitter, and Facebook make it almost effortless for businesses like yours to compose and post content to a potential audience of millions. It’s faster and cheaper than large-scale publishing, promotion, or customer relations have ever been. To use social media effectively today takes strategists, writers, community managers, graphic designers, app developers, and customer service reps. It all costs money, even before you throw in funds for brand monitoring and analytics tools, publishing and promotions software, buzz-building prizes and giveaways.

The Power of Social Media

Before they loosen the corporate purse strings, those holding them will say, “Show me the impact social media have on reputation and the bottom line.” In answering, start here. Statistics eloquently tell some of the story. Social media can be a boon for brand equity, customer loyalty, and business performance. Various studies have found the following:

  1. 74% of consumers have a more positive brand impression after interacting with a company through social media
  2. Purchase likelihood increases 51% after a customer clicks the “like” button.
  3. When they receive good customer service, social media users tell three times as many people about it as do nonusers of social media.
  4. 83% of people who complained about a given company on Twitter “liked or loved” a response by the company.

Beloved Brands Thrive in Social Media

As an employee or consultant, I’ve been fortunate to work for a number of beloved brands, including The Vermont Teddy Bear Company, Green Mountain Coffee, Wine of the Month Club, Terry Precision Bicycles, and others. Brands like these resonate with consumers because they have a unique story to tell, a story with an emotional dimension. Such brands are positioned to thrive on social media.

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