It’s estimated that roughly 60% of people that post questions on a brand’s social media page expect an answer, even though brands, as a whole, only respond to around 5% of all questions that are posted on their walls.
Obviously, there’s a huge discrepancy between expectations from consumers, and expectations from brands. Many brands, for the most part, still view the concept of maintaining an active, and responsive presence on social media that is constantly monitored as sort-of optional, even though a recent report from Mckinsey Global Institute puts the potential value of tweeting at work at something along the lines of $900 billion to $1.3 trillion.
Consumers, on the other hand, expect a lot more from the brands that they are actively liking and following on Facebook and Twitter and other social networks, which should encourage brands to go well beyond their current ‘fire and forget’ approach towards social media.
Even so, many haven’t, and if that report by Mckinsey Global Institute is even remotely accurate, that’s a very expensive problem.
Here are just some of the ways that increased activity on social media can help brands.
Improved Customer Relations
Social media has long been seen as a tool that can help cut down on the response times for customer service inquiries, all the while seamlessly marketing a brand and improving relations among consumers.
Unfortunately, not a significant amount of brands turn to social media in order to solve their consumer relations problems, instead leveraging social media as simply another way to market their brand. This is all even in light of the fact that statistics clearly support the fact that brands that exceed customer service expectations — through social media and otherwise — are far more likely to be talked about on social media. Beyond that, the social media users of those brands spend as much as 21% more than everyone else.
Whole Foods provides an excellent example of a brand leveraging social media in order to improve customer relations, spending roughly 40 hours a week listening and responding to inquiries from their customers on Twitter. This approach hasn’t just worked — it’s proved exceptionally successful for Whole Foods, netting them well over 2.8 million followers on Twitter.
Improved Internal Communication and Organization
In that same report by Mckinsey Global Institute, the company estimates that roughly two-thirds of the savings for brands in social media lies in, “improved communications and collaboration within and across enterprises.” In all, they estimate that between $600 to over $900 billion could be saved if an organization adopted social media internally and started using it to greatly improve communications throughout their enterprise. That’s a lot of money.
And it doesn’t necessarily have to begin with using large, multi-channel social media networks that are built solely for enterprises.
Instead, it could be as simple as having every employee adopt Twitter and use it once a day, or contribute to a LinkedIn group once a week, or monitor a brand’s Facebook page one day of the week.
Beyond that, free services like Do and Asana allow small to medium-sized (and even larger) organizations easily manage projects and update one another on the status of those projects.
Simply put, the more organizations start adopting this technology and using it, the more they’ll be able to find unique ways to save money. And maybe they’ll quickly find out that that meeting in order to discuss the status of ‘that project’ project is actually kind of unnecessary, because everyone’s been keeping up with its status (and updating one another) through social media. 1 hour of productivity gained!
Mckinsey Global Institute’s survey reveals one thing: social media isn’t simply powerful in its ability to carry messages throughout the world, but also in its ability to make us all far more efficient in our communications with one another.
Just think about all of the time you would save if you could communicate (and receive responses to) problems quickly and seamlessly with any brand in 140 characters or less through Twitter. Or if a brand’s customers helped answer another person’s inquiry through Facebook. Or if projects could be easily updated and commented on through some sort of internal social networking.
Probably a lot.
How does your organization use social media to create more efficient communications?
Source: MSM DesignZ, Inc. is a Westchester social media company based in NY specializing in advertising, web and graphic design, and SEO.