More consumers interacting with brands via social media

Social media has changed how consumers connect with family, friends, and news outlets. Social networking is changing how consumers voice their opinion and interact with retailers and service providers says a new study

Increasingly, consumers enjoy interacting online with their preferred brands on a regular basis, according to the study "S-Net, The Impact of Social Media," sponsored by Performics and conducted by ROI Research The report, which surveyed 2,997 consumers with access to at least one social network weekly, highlights the differences in how and why consumers use social networks to interact with brands across 18 different industries: alcoholic beverages, clothing, appliances, automotive, education, electronics, entertainment, financial services, food, healthcare and pharmaceuticals, household, magazines and newspapers, non-alcoholic beverages, personal care, restaurants, sports-related, telecommunications and travel.

Key findings include:

• 53 percent of respondents strongly or somewhat agree that voicing opinions on social networking sites can influence a company or brand's business decisions.

• 51 percent of respondents purchase more from those companies or brands they "like" or follow via social networking than those they don't like or follow, with 24 percent having made a purchase directly as a result of something they saw posted on a social network.

• 50 percent get and 50 percent give advice via social networking sites, with 60 percent of respondents claiming they are at least somewhat likely to take action when a friend posts something about a product, service, company, or brand via social network.

• 59 percent of respondents use social networks to compare product prices, while 56 percent talk about sales and specials.

• Social networkers look for participatory marketing tactics that allow them to interact with the companies they follow across all channels and platforms.

• 53 percent think that companies should communicate with fans and followers at least once per week.

Performics emphasises in the report that marketers must understand and act on customers' desire for brand interaction, based on both customer preferences and trends within specific industries. Doing so will help marketers create or adapt marketing strategies that meet customers' expectations and participation preferences.

Additionally, companies should allocate time and resources to the most relevant and appropriate social networks for their target audience, regularly monitor and measure customer activity in those channels, and then adjust their marketing strategies and tactics as necessary to optimise customer engagement.