The benefits of a social media strategy continue to be plentiful and diverse, as proven by the latest study by the Ryan Partnership: consumers are actively trying new products and services they learned exclusively through social media.
36% of those polled said that updates from a retail location said they were ultimately convinced to try a new product they hadn’t previously considered. Another study by Ipsos shows that 18% of those polled followed a brand or retailer because a friend did the same. Impulse buys and store choice have also proven to be influenced by social media.
While grocery chains are still relying heavily on print inserts and circulars, they are showing more initiative with their social media plans. 65% of those polled by Valassis said they plan to increase their social media promoting within the next five years. Opposed to retailers, though, they are a little less sure about which specific area – acquisition, retention or increased traffic – benefits the most.
Applications, online reviews, brand emails and deal sites have also proven influential, but social media is proving to be a key cog in the marketing machine for brands everywhere.