Welcome to my blog on Content Intelligence and Engagement Performance; I have spent years in collaboration, messaging and social space developing advanced technologies to improve the consumer experience and lead generation. Was inducted into the Viral Hall of Fame by Marketing Sherpa as well as other industry awards. Join me in the conversation.

Monday, March 8, 2010

Facebook / Twitter Stats Show Buyers are Followers

A new study from Chadwick Martin Bailey and iModerate Research Technologies found that consumers are 67% more likely to buy from the brands they follow on Twitter, and 51% more likely to buy from a brand they follow on Facebook. Moreover, they’re 79% more likely to recommend their Twitter follows to a friend, and 60% more likely to do the same on Facebook:

This was obtained from The Retail Advertising and Marketing Association, a division of National Retail Federation, released new research at NRF’s Retail Innovation & Marketing Conference on the habits of social media users. They are comparing social media users to the average U.S. adult, which is to say is the SM user different or desires more media stimulation. The survey looks at the differences in demographics for each group, including male and female usage as well as age differences in social media users compared to other adults. I like to compare these results to what the Fortune 100 is doing with social media and see the overlap.

•Seven out of 10 social media users between the ages of 18-34 regularly use Facebook more than other sites such as MySpace, Twitter and Classmates
•71.8 percent of social media users say that after an online search, they communicate with others about a product or service with face-to-face communication
•More people who use social media prefer to give advice about a product or service rather than receive it
•Social media users are more likely to use other new media compared to adults 18+
•70.6 percent of female social media users regularly use Facebook, compared to 61.0 percent of males
•More men than women prefer to communicate with others via a cell phone conversation after searching for a product or service online

Above came from "The Global Social Media Check-up" Insights from the Burson-Marsteller Evidence-Based Communications

This is very supportive to my position that social analysis is a key element to any social strategy, however, the only problem is there is not one single solution making it more difficult to do quantitative measurement. Here is The top 4 things all business must consider when launching their social presence.

1. Monitor Your Own — And Competitors — Social Media Presence.
Ton of social listening product only problem is who are you listening to. If you don't identify who is connected to you and who are you customers you will find fast that you can get overwhelmed with the flood of data. The key is WHO has the reach to your audience that matters.

2. Get Top Management “Buy In.”
This is so important and the big question is who in your company at the management level really uses say Facebook, Twitter or Linkedin. You will find there use of the technology many not be the same as your consumer or the brands social equity value to a consumer.

3. Develop a Social Media Strategy.
If the plan is to set up a fan page and twitter but not to feed it and co opt in people in the organization or find and grow social brand evangelism for a long term objective the results will case number 2 above to fade. People in the organization need to be involved and own this not just your agency with the next big idea.

4. Define and Publish a Social Media Policy.
I have done many corporate social analysis and found major bloggees and ultra connectors in companies that are not being valued at all. These people and the entire employee base is a HUGE asset to the social media equation. The number of people in a company that are connected to friends ie your customers most likely is massive. If you don't provide guidance and how to leverage this base the base will do it for you.

I'm still working on the next post regarding industry penetration based on type for Facebook.

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