As reported in the study Demystifying Social Media (#mcksocial) by Roxane Divol (@rdivol), David Edelman (@davidedelman), and Hugo Sarrazin (@HugoSarrazin) in McKinsey Quarterly (@McKQuarterly) (YouTube channel), brand owners seeking to make the most of social media must learn to “monitor,” “respond,” “amplify,” and “lead” on these sites.
· Monitoring brand buzz is the core function of social media as it applies throughout the purchasing decision journey.
· Responding to positive and negative comments is crucial for brand protection. “No response can be quick enough, and the ability to act rapidly requires the constant, proactive monitoring of social media—on weekends too. By responding rapidly, transparently, and honestly, companies can positively influence consumer sentiment and behavior.”
· Amplification involves designing marketing activities to have an inherently social motivator that spurs broader engagement and sharing. It means offering experiences that customers will feel great about sharing, because they gain a badge of honor by publicizing content that piques the interest of others.
· The fourth role of social media is to “lead” and encourage behavior change.
Another study says the quality of customer service offered by US brands on social media strongly influences buying habits. The 2012 American Express Global Customer Service Barometer says the average person using social media to get customer service is subsequently willing to spend 21% extra on a brand if the service is “excellent.”
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