Here’s a startling fact, even though customers require a response, 5 in 6 requests made by consumers on social media go unanswered by brands (Sprout Social). “So what?” and “who cares?” may be what you’re thinking. Social media is a tool for broadcasting your brand message and should not be used as a customer service tool, right? Borrowing one of my favorite quotes from the movie Glengarry Glen Ross, I have good news and bad news for you. The good news is, you’re fired. The bad news is, you will have a lot of making up to do to regain a customer’s trust in your brand if you choose to ignore them on social media (Edelman Trust Barometer). After all, social media engagement that drives customer loyalty should be the end goal of your campaigns.
Engaged customers will spend more
Times have changed and the expectations of customers are evolving. Did you know that 8 out of 10 millennials are expecting brands to engage with them on social media? (Edelman). In today’s business landscape, it is imperative to have a social media strategy in place to meet customer expectations in order to provide them with the positive experience they are looking for in your brand. What’s even more revealing, (using the Net Promoter Score* [NPS] method to measure customer loyalty) a Bain & Company study found that on average, customers who engage with companies via social media spend 30% more, and that social media engagement appeared to be the driving force among passive uninterested customers.
Key Takeaways
- Develop a strategy to engage with your customers on social media
- Understand that 8 in 10 of your millennial customers are expecting you to engage with them on social media (Edelman)
- Engaged customers spend 30% more than those that do not engage
- Engaging with customers on social media will increase customers trust in your brand and drive brand loyalty
*Net Promoter Scores (NPS) takes the percentage of customers who are promoters and subtracts the percentage of detractors to derive a score. Promoters are considered the loyal enthusiasts with scores between 9 or 10 while Detractors are unhappy customers with scores between 0 and 6. Passive customers score between 7 and 8; they are satisfied but unenthusiastic and can defect to your competition with a more competitive offering.
