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Retailers’ Use Of Social Networks Encouraged

Report says maintaining customer relationships key

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[ Social Media]

Even when consumers aren’t showering them with cash, retailers need to stay in touch, according to a new report.  And Rockbridge Associates and the University of Maryland’s Robert H. Smith School of Business recommend that they do so by maintaining presences on social networking sites.

In a paper titled "Changing Consumer Priorities in Tough Times," these two organizations argued, "Continuing the relationship with customers is a key strategy for service providers as they provide opportunities for the businesses to recoup revenues through up-selling at a later point in time."

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Social networks seem to provide the ideal way of maintaining contact, too, as the paper also stated, "Compared to a year ago, more [U.S. adults] are interacting with friends and family online through social networking sites such as Facebook, Myspace and LinkedIn.  Specifically, 33 percent are doing this more, 14 percent are doing this less, and 53 percent are doing this the same; the only activity that is increasing at a faster pace is television watching."

So companies that don’t feel like spending lots of money on TV commercials should consider that it’s possible to reach similar audiences online for free.

Then, when people are ready to start spending again (99 percent of the study’s participants agreed that the economy’s in either a recession or a depression at the moment), these savvy companies will already be a part of their daily lives.

Retailers’ Use Of Social Networks Encouraged
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  • http://asmarketing.wordpress.com Top Keyword Search

    Making and maintaining contact is the way to communicate with your potential customer. Social Media thru web sites and email is the way to go.

  • http://www.dogseizures.net Sam@dogseizures.net

    I must agree that retailers should use social media in reaching out to their existing customers as well as to their potential customers. They must start using technology to their advantage.

  • http://astore.amazon.com/rockconstruct-20 Marketer’s 4 Dimension Webstore

    Social media and social networking is getting more and more visible for online retailers

  • http://officialsafetyandsecurity.com Official Safety and Security

    As a small business and web site owner of safety and security products, I had done some research on my own and decided I needed to market through social sites but it’s really comforting to have that decision confirmed through acedemic channels. Thanks, Doug, for sharing.

  • http://www.sellmyinventory.com Paul

    We have tried to use Facebook,Myspace,Twitter,etc to get some traffic to our sites ,but to no avail. What is needed is a way to reach the masses without spamming and with cost effectiveness.

    Unfortunately we haven’t figured out which avenue that is. With the economy in the tank,our site would be extremely helpful to business owners,both large and small. Any suggestions?

    Thanks for another great article.

    Paul

  • http://www.pvcflooring.org/ PVC Flooring

    Though US adults are pessimistic about the economy and are cutting back on many big-ticket purchases, economically-driven changes in consumer behavior may hold potential bright spots for retailers engaging in social networking,

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