(PRWEB UK) 2 August 2013
Experts in Media conducted a survey with 48 MD’s across the UK, Spain, Portugal, Italy, Poland and Australia. The survey centered around how they feel social media has changed the way they have conducted business in their respective market place. “The best way to reach customers has changed. Traditional channels like TV, radio and print advertisements are not as effective anymore. Customers are more likely to purchase a brand based on recommendations. In ‘the olden days,’ word of mouth was a verbal exchange between friends, family and colleagues. Nowadays recommendations are made through social media, forums, directories and recommendation sites like Trip Advisor. A customer’s recommendation could reach hundreds and thousands of people. This has changed the game of advertising, marketing and branding,” explains Victoria Nupen MD of Experts in Media.
The Experts in Media survey further revealed that these companies found more value in using social media sites when communicating with customers than any other platform they have ever used. A recent article on businessinsider.com revealed that 25% of smartphone owners ages 18 to 44 say they can't recall the last time their smartphone wasn't next to them and that 83% of Twitter users expect a same day customer service response. More than 88% of consumers are influenced by other consumers' online comments. Jeff Bezos once said, "If you make customers unhappy in the physical world, they might each tell six friends. If you make customers unhappy on the Internet, they can each tell 6,000."
Customers and business alike can use social media to communicate everything from brands promoting product advances and specials; to customers communicating how useful they have found a product or any issues they may have had. Victoria Nupen understands the issues that can come from not engaging with customers online, which is why Experts in Media advocates not just advertising on social media site but also to use them as a tool to communicate with your target market.
The study also affirms that no matter where in the world our MD’s conducted their business, they all had seen a rise in customer communication using social media. On average there was a 65% rise in interaction with their brand and their customers when using social media to promote their company. “More and more people have access to internet on their mobile phones. Now that people have instant access to their social media profiles, it is easy for them to share their thoughts, opinions and views online. This also makes your potential target markets more accessible to reach anywhere, whether they are on the train, waiting in line at the grocery store or even while they in the stands watching Wimbledon. The MD’s that we spoke to regarding their social media influence in the market place showed that since their companies started using social media, their other advertising costs had dropped,” continues the managing director of Experts in Media, Victoria Nupen.
According to a Duke University Fuqua School of Business survey of US marketers commissioned the American Marketing Association (AMA) conducted in February 2013; traditional media ad spend dips lower as more dollars shift to digital. eMarketer foresees continued growth in digital ad spending in the US, with budgets totaling $42.5 billion in 2013 and increasing to $60.4 billion in 2017. Experts in Media’s MD Victoria Nupen concluded, “the study suggestions that people are spending time online, giving companies a great opportunity to attract their attention through different platforms like social media and forums.”