The biggest mistake brands make about social media | New Media ...

According to Harvard Business Review ?Only 23% of the consumers in a study said they have a relationship with a brand. In the typical consumer?s view of the world, relationships are reserved for friends, family and colleagues. That?s why, when you ask the 77% of consumers who don?t have relationships with brands to explain why, you get comments like ?It?s just a brand, not a member of my family.? (What consumers really want when they interact with brands online is to get discounts).? ?So then why is there so much misinformation about social media marketing ?

Let me cut to the chase; the most important currency for consumers today is time and most of them just don?t have the time to have a relationship with your brand on facebook. ?Consider some of these latest stats;

• According to a recent report from?BizRate Insights,?Pinterest?is better at inspiring and driving purchases than Facebook ? 69% of online consumers who visit the social network have found an item they?ve bought or wanted to buy, while only 40% of Facebook users report similar results.

• A?post at the?New York Observer?in September reported that Facebook posts made from a brand?s fan page?say, from Macy?s, Walmart, or a celebrity like Kim Kardashian?now reach only 15 percent of fans on average. (Ars? own Facebook page has experienced similar fluctuations: even as likes continue to climb, traffic generated by the page has remained unusually low.)

• As Facebook has moved through its IPO, it has increasingly lost focus on serving its primary customers. Instead, it has been sidetracked by the need to monetize its user base through advertising and to extend its influence outside of Facebook itself, via its Open Graph protocol. That distraction is evidenced by repeated privacy snafus ? Facebook erred on the side of data gathering and data use, at the expense of its users? privacy, thereby weakening their trust.

• Out of?Interbrand?s Top 50 Global Brands?on Facebook, 27 of them won?t even reply directly to their customers.
• 70% of global brands don?t engage with consumers on social media according to?Social Bakers.??Further,?one-quarter of global companies go as far as closing their wall on Facebook to prevent fans from asking any questions at all. If this sounds like your business, you can change the?social media conversation.

• According to Datamation.com, ?For the most popular businesses on Facebook, those with more than a million ?fans,? fewer than 3 percent of those fans are seeing the companies? daily updates

What should readers take away from this data ? ?They should understand that spending money on a facebook page and allocating lots of money to social media without considering what?s really important to consumers is not going to meet business objectives. ?While brands are spending more and more money on social media facebook executives are cashing out their stock and building/buying really nice homes in the Bay area.

We need to think about where consumers are more likely to turn into customers and how we can influence that moment of truth. ?An in store display. for example, would probably provide a higher ROI for the new Oreo cookies than a faceboook page. ?However, Ford might find that a facebook page dedicated to their new Ford Fusion is a key part of decision-making for consumers who are considering which cars to test drive.

Understand the opportunities with social media but also understand the limitations and don?t believe that consumers want to have a relationship with every brand they purchase.

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Source: http://newmediaandmarketing.com/the-biggest-mistake-brands-make-about-social-media/social-media/

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