Would you like your customers to be happier? How about a big increase in new business leads? And what business wouldn’t want more sales?
Well, those are just some of the benefits that businesses which embrace social media can expect. In fact, according to leading consultants McKinsey, companies that adopt social technologies can experience a 50% increase in customer satisfaction, a 48% increase in business leads, and a 24% increase in revenue.
There’s a revolution going on right now. The world is changing faster than we could ever have imagined. Smart business owners recognise this and have put social at the heart of their thinking and strategy.
A couple of examples of the power of social media include Netflix, the online TV and movie provider. When Netflix announced changes to its pricing structure, its customers revolted, posting 82,000 negative comments across its blogs and on Twitter and Facebook. Within months the company lost 800,000 customers and more than 60% of its market value.
By contrast, major airline KLM successfully used the power of social media to its advantage. KLM engages customers on the social web, where they can ask questions, check in for flights and have conversations about travel plans. In one innovative campaign, KLM surprised passengers who had checked in on Twitter at the airport with a personalised gift – something to enjoy on their trip. This created a huge amount of goodwill that will turn into customer loyalty.
And locally, in Newark and Grantham, I’ve seen some great examples of businesses successfully engaging with their communities and benefiting from it.
The thing is, with social media, everything happens faster than ever before.
Companies that respond to this and become social enterprises will connect with everything that’s important. They will be the successful companies of the future.
For more information on social media marketing, visit Louise Hudson’s website here.