Friends are more than the people you hang with. They’re also the shapers of your opinions … especially opinions related to buy decisions. At least, that’s the story told by statistics. According to research, approximately 80% of consumers seek recommendations from folks in their social circle – well before purchasing a product or service.
With its friend-connecting power, social media is the perfect vehicle for this opinion-seeking phenomenon. When considering the purchase of say, a tablet computer, more and more people are flocking to places such as Facebook for recommendations from trusted friends. Once opinions are gathered and digested, recipients embark on a research mission to finalize the findings before pressing the ‘buy’ button.
Naturally, brand marketers are eager to capitalize on the connecting power of social media. But how will you know if your social campaign is working?
Marketers must pinpoint their objectives, then identify Key Performance Indicators (KPI’s) to measure how well these objectives are being met. Once the results are in, the team can re-evaluate existing strategies and implement new ones as needed.
To capture performance information, marketers should get revealing answers such as:
- Number of visitors from social sites such as Facebook, GooglePlus, and Twitter.
- Number of visitors who made a purchase.
- Time spent on social site.
Fortunately, marketers can choose from a number of tools, such as Google Analytics, to measure performance. Whatever measuring strategies are used, it’s more important than ever to enhance online awareness of your product or service. As visibility increases, so does your audience and the potential number of conversions.
If you have any questions or comments regarding social media and your brand, or about any brand related topic, feel free to send them our way. You can connect with the Young Company team at 949-376-8404 #4033 or firstname.lastname@example.org. And be sure to follow us on Facebook and Twitter for the latest brand marketing news and tips.