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Socially Devoted to You: What's the ROI of Being Attentive to Your Customers

SOCIALLY DEVOTED TO YOU WHAT'S THE ROI OF BEING ATTENTIVE TO YOUR CUSTOMERS? It's one thing to simply set up a Facebook Page for your business, but it's another to actively engage customers in conversation, respond to feedback or questions in real time, and be socially devoted to your fan base. DROPPIN' THE BALL May 28, 2011 at 10:00 pm 5% ...??? August 1, 2012 at 1:30 pm On average, companies respond to only 5 percent of the questions posed to them on their Facebook wall. And 70 percent of the questions that they receive across all social media sites-from Worse, a surprising 1 out of 4 global companies has a closed wall on Facebook, meaning users couldn't even post questions if they wanted. Twitter to Yelp-go unanswered. 3 MODELS OF SOCIAL ENGAGEMENT NO ENGAGEMENT INDIVIDUAL ENGAGEMENT COMPANY-WIDE ENGAGEMENT Business employees and customers are kept separate. Business employees can only Through the use of social media tools, businesses can engage all members of their community simultaneously. engage one customer at a time. THE ROI OF BEING SOCIALLY DEVOTED TO YOUR CUSTOMERS A PulsePoint Group survey asked U.S. executives what they believe are the primary benefits of social engagement between businesses and customers. What was the most popular answer? Improved marketing and sales effectiveness. The more effective marketing efforts are, the greater the financial return on investment. Percent who believe each is an advantage or significant advantage of being socially engaged with customers - - -- 100%.-- - - -- 80% 60% 40% 20% 0% IMPROVED COLLABORATION WITH PARTNERS IMPROVED SPEED TO MARKET/ INCREASED SALES/ IMPROVED BRAND IMPROVED PRODUCT IMPROVED IMPROVED MARKETING/ SALES EFFECTIVENESS DECREASED COSTS MARKET SHARE OR STOCK VALUE AND SERVICE QUALITY RETENTION INNOVATION SHINING EXAMPLES OF COMPANIES THAT DO IT RIGHT TOP 5 MOST DEVOTED INDUSTRIES AROUND THE WORLD (ON FACEBOOK) According to a Socialbakers study, airline and finance brands are the most socially devoted to their customers and fans on Facebook, representing 13 of the top 20 brands. Average responsé rate on Facebook (Percentage of user wall posts that company responds to, by industry) 60.4% 55% 46.4% 43.6% 41.5% SALEC- AIRLINES FINANCE RETAIL FASHION ELECTRONICS SUCCESSFUL BRANDS HAVE QUICK RESPONSE RATES AND COUNTLESS FANS Response rate on Facebook | (Percentage of user wall posts that company responds to) NUMBER OF FACEBOOK FANS 10 20 40 60 80 100 194.1% f 1,761,450 KLM ROYAL DUTCH AIRLINES (NETHERLANDS) MVP: KLM ROYAL DUTCH AIRLINES KLM Undoubtedly, the airline industry is one of the hardest to maintain consumer satisfaction. Still, French-Dutch airline KLM has been able to tap into the value of social media by vowing to use their Facebook and Twitter sites to answer every customer concern personally within one hour. Not only have they kept to this promise by boasting an average 27-minute response time, they also have an impressive 94 percent response rate to their nearly 1.8 million fans. AIRLINE |83.6% f 235,031 AIRPHILL EXPRESS (PHILIPPINES) f 770,360 ALITALIA (ITALY) |78.4% 1 95%f 72,787 DNB (NORWAY) FINANCE |87.6% f 595,232 CIMB (MALAYSIA) FIRST NATIONAL BANK (SOUTH AFRICA) 83.3%f 158,996 NEXT (UNITED KINGDOM) | 90,5% f 1,072,871 FASHION | 88.4% f 1,017,570 STYLEFRUITS (GERMANY) | 84.9% f 1,049,447 NIKE RUNNING (UNITED STATES) 88.2% f 1,017,197 TRENDYOL (TURKEY) RETAIL TESCO (UNITED KINGDOM) | 82.1% f 864,898 176.6% f 676,832 DM DEUTSCHLAND (GERMANY) ACER INDONESIA (INDONESIA) 195.1% f 717,955 ELECTRONICS 75.6% f 333,034 SONY MOBILE MX (MEXICO) 71.3% f 551,846 SAMSUNG TÜRKIYE (TURKEY) • OTHER NOTABLE STARS asoS BEST BUY jetBlue discover fashion online ASOS - Fans and Friends All Like Best Buy - Twelpforce JetBlue Airways - All A-Twitter In 2008, Best Buy launched "Twelpforce"-a separate Twitter page dedicated to addressing tech advice- and employed 3,000 skilled and knowledgeable tweeters to ensure that customer questions were replied to promptly and effectively. From Facebook to Twitter, the online fashion retailer site makes it a point to Out of all its social media channels, Twitter is the popular airline's most actively used platform and a big part of the brand's communication strat- be there for their customers. And with 1.8 million fans and a fan growth rate of 8,000 per week, the brand is doing something right. In fact, friends of fans are 2.7 times more likely to visit egy. There are 15 JetBlue personnel tweeting for its account at any time, interacting with their fans, solving issues, apologizing for errors, and sharing specials. the ASOS site. IT TAKES SOCIAL DEDICATION What are the best ways businesses can stay committed to their customers? DISCUSS! JUST FOR YOU! EXPRESS BUY 1, GET 1 1/2 OFF ATTENTION, ATTENTION, GET YOUR HANDS DIRTY UNDERPROMISE AND ATTENTION OFFER EXCLUSIVE SPECIALS FOLLOW UP OVERDELIVER Once the sale is made or Step one: ask fans to join a conversation on your Facebook page. Even better, join the discussion to show that the service is rendered, follow up with your Remember: your customers are trying to reach out to you because they need you, not because they want to annoy you. In order to get them to stay loyal to your business, try deploying a team dedicated solely to tracking online conversations about the Get people excited about your service by offering exclusive deals to loyal customers and those who The idea behind the age-old "underpromise customers. This is the and overdeliver" method critical period where you find out how satisfied they were with the experience and how you can improve. is that most people are more impressed by outstanding service they don't expect than outstanding service they see coming. So do everything in your power to thrill your customers by delivering your services faster or better than anticipated. you care about their will eventually spread the good word about your brand. Recently, fashion opinions. house Yves Saint Laurent announced the launch of their first limited-edition social beauty product, which would be sold brand, responding to crises, answering questions, and listening to suggestions. exclusively via their Face- book page. Any Facebook fan who buys the new eye shadow palette will get exclusive perks both in-store and through the Facebook feed. SOURCES: Socialbakers | Econsultancy | PulsePoint Group Demandforce in Partnership with Column Five

Socially Devoted to You: What's the ROI of Being Attentive to Your Customers

shared by ColumnFive on Sep 15
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It's one thing to simply set up a Facebook Page for your business, but it's another to actively engage customers in conversation, respond to feedback or questions in real time, and be socially devoted...

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