All marketers acknowledge the power of social media but only 16% use the data for competitive insight. That was one of the findings in a 2020 spring survey of more than a thousand social marketers by Sprout Social. The social management media firm also disclosed that just 23% of marketers use the data to measure ROI.
The findings almost seem to run counter to other findings provided by Sprout. For marketers, 69% said their top social media goal was to increase brand awareness while another 46% identified, said their top goal was to grow their audience. Increasing web traffic was cited by 52% as a top priority.
Sprout also surveyed over a thousand consumers to get a sense of their social media expectations of brands, as well as their social media behavior. Of those surveyed, 89% said they buy from brands they follow, and another 75% said they will increase buying from those brands.
Collectively these results indicate that there’s tremendous potential for social media to significantly lift brands to much higher sales levels if managed wisely. What might marketers do to leverage this data and drive more sales?
Based on other results, Social concluded that many marketers were goal setting in silos and not sharing and demonstrating the value of social media to the entire organization. Failing to do so reduces the potential impact social media can make by not actively enlisting the support of others.
What’s important for marketers to know is why consumers follow them on social media. The top reason based on Sprout’s survey was to learn about a company’s new products or services. This is what 57% said. Staying up to date on company news was second, at 47%. Tied at 40% were being entertained and learning about promotions and discounts. To be educated followed at 34%, with being inspired and to connect with similar people tied at 32%.
This knowledge should help brands in targeting their messages as well as framing their calls to action based on what Social found to be the top actions consumers take when they follow brands on social media. The top two were predictable. On visits to the brand’s website it’s 91%, and 89% when it comes to purchase from the brand.
These other actions scored high as well. A total of 85% recommended the brand. Tied at 84% were making an in-person visit to the brand’s store and choosing the brand over a competitor. Increased spending with the brand stood at 75%, while reaching out for customer service or support and reading the brand’s blog or site content tied at 74%. Engaging with the brand on social media also scored high among 71% of respondents.
When it came to preferences over the types of content consumers wished to see, images (68%) and video (50%) not surprisingly, ranked highest. And as to why consumers messaged brands, the top response among 59% was “great experiences.” Customer service issues were cited by 37%.
The final valuable discovery from Social came when they asked marketers and consumers what made the brand’s social media the best and then compared the differences. Engagement scored the highest with consumers at 61%. Marketers were close behind, at 59%. But transparency was a lot more important to 45% of consumers compared to just 35% of marketers. Similarly, strong customer service was 44% among consumers while marketers came in at 37%.
The conclusion of Social’s results seems pretty clear. Marketers need to collaborate and communicate more openly within their own organizations and focus on those areas identified by consumers as having the highest interest. At the same time, customer service needs to be ramped up or in cases where it has, customers should be informed about it, which then highlights the need for greater transparency.