How Retailers can Leverage Social Media

The retail game has changed from 'Location, Location, Location' to 'Attention, Attention, Attention' making customer service the most important aspect of a retailer's success.
How Retailers can Leverage Social Media

With the increasing competition, and high consumer expectations it is essential for retailers to develop informative content with social media strategy. As in today’s world, social media is not only building brand awareness or promoting the product, it is telling the brand stories, engaging the consumers, and even educating them with the latest trends. Today’s winning strategy is to build consumer connections, and social media is one such prominent form of communication that helps the retailer in connecting with consumers as well as maximizing sales. 

With the increased ease of internet access, “the social network users in the country were expected to be almost 1.5 billion in 2040,” as per Statista. 

Social media marketing can’t be ignored in coming years as to survive and thrive in the new era, the key lies with social media marketing. The question to ponder is, how retailers should identify the best plan for their businesses across multiple channels. 

Who Are Your Customers and Where Are They?

The usage of social media around the globe has increased as mobile apps have given the ease for the consumer to access or browse their favorite sites on the go. It’s important to make the best use of resources and find ways to reach your best audience with potential content. 

Pew Research Center, 2021 shared that, “84 percent of US adults aged from 18 to 29 are active social media users. This number falls slightly to 81 percent for the 30- to 49-year-old age group and further to 73 percent for those aged from 50 to 64. The US adults who are 65 years old and above use social media the least.”

READ MORE: Social Media Platforms Lead Social Commerce In India

Understanding the statistic will help in reaching out to the right audience at right time. Customers are now ‘socially addicted’ and thus unveils huge opportunities for businesses to reach their customers through social media. Various researchers have expressed that a high level of interaction over social media helps in building a positive relationship with customers. The increase of brand presence over social media is providing a big moment for influencer marketing as customers feel confident with the influencer recommendations. 

According to Statista 2019, “Social media statistic shows us the number of daily active Instagram Stories users, has increased from 150 million in January 2017 to 500 million in 2019.”

Time to Build a Strategy   

The retail game has changed from ‘Location, Location, Location’ to ‘Attention, Attention, Attention’ making customer service the most important aspect of a retailer’s success. Social analytical tools like Facebook Audience Insights, Twitter Analytics, and LinkedIn Analytics have ample data which can help in crafting personalized as well as relevant buyer personas. Content is the key and marketers should focus on creating eye-catching content over social media for seamless integration throughout the entire customer journey. 

To leverage social media for businesses, brands have to be consistent in making meaningful interactions with influencers as well as followers. Studies have revealed that “influencers produce 11 times more ROI than any other marketing approach—one of the many reasons experts believe influencer marketing will become a $15 billion industry in 2022.” 

Where partnering with influencers is proven to be beneficial in reaching a high number of customers, brands should focus on creating a consistent message with a customized strategy for different platforms, as you also need the right creators too. 
 
Most importantly brands should not forget that small investments in creating a fun buzz can lead to massive returns. Actively engaging with the right audience has made many brands play well with the strength of social media platforms like Amul, Zomato India, The Minimalist, Netflix India, and many more. Lots of research is required before rolling out the content marketing strategy as the customer wants to find a brand that resonates with them.  
 

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