Eric Qualman’s video #Socialnomics 2014 helps explain the importance of social media due to its relevance and domination of buyer’s and consumer’s minds. When people discuss, mention, tag, or tweet at your brand, do you like what they are saying? Do other people trust what they are saying? Now, only 14% of people trust advertisements, and word-of-mouth advertising is stronger than ever.
Today’s consumers use tools like Facebook and Twitter to spread the word about what they’re doing and using, and word of mouth has become an increasingly important tool for improving awareness and favorability among consumers. 90% of consumers use peer referrals to make product decisions and approximately 93% of consumers are influenced by social media.
With information overload becoming a major problem, consumers’ attention spans are shorter than ever, pushing companies to engage with digital tools to target consumers with relevant and up-to-date information. In the modern economy, digital and social media is vital for companies to track what consumers are saying and thinking, to build relationships, and to maintain loyalty.
As explained in Eric’s video, the world’s population is as follows:
As a company, it is important to join the conversation of your brand and products online through social media. Facebook, Instagram, Twitter, YouTube, and Vine are all great media that can help companies reach and attract people to their brand.
These platforms can be used as resources for customer service, consumer education, market research, and a marketing tool for your brand and products.
Social media is also a great way for a company to hear and understand how consumers feel about their products and brand. People are constantly sharing pictures and posting about their own experience with their favorite new gadget, the cute shoes they just bought, or the new song they are playing on repeat. By listening to and viewing consumers’ content, you can learn a lot about peoples’ perspectives of your brand.
As a millennial who is constantly scrolling through Instagram, watching Vines, and pinning things on Pinterest, I use my social accounts to stay up to date on the newest news and what is going on in the World. If I don’t see it on my phone’s 5.7-inch screen, chances are I won’t find out about it. I don’t want to speak for my whole generation, but chances are, if you aren’t creating and sharing content, your brand isn’t in the minds of consumers.
By creating and constantly updating unique, entertaining, and eye-catching content, your brand is sure to benefit from the wide, ever-changing world of social media.