Does Social Media Generate Sales?
Does social media generate sales? Perhaps not, suggests some data. Paul Chaney shares a Practical eCommerce survey that revealed 77% of participants reported sales made directly or indirectly through social media made up less than 5% of total sales. He also noted a recent Forrester report that suggests driving revenue through Facebook has been a challenge for many brands.
Which leaves Paul to ask: what, then, is social media good for? As it turns out, he continues, quite a bit. Here are just two of Paul’s compelling reasons to engage customers online:
- The cultural trends demand engagement. Online conversations influence consumers. Digital marketers have a stake in those conversations—they should have a voice in them as well.
- Social media provides valuable market insight. Brands don’t necessarily need a focus group to discover how a customer perceives a brand or product. Paul suggests listening for “who is doing the talking (influencers), what it is they are saying (topics), and where they’re saying it (social network platforms)…”
Check out the full post for additional reasons to incorporate social into the marketing strategy. Thoughts on how social media builds benefits beyond generating sales?