The Shift in Social Media: Why Traditional Channels Are Falling Short
Know how brands are shifting focus from social media to building meaningful connections with customers, harnessing data, and fostering communities.
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Today, social media feeds are full of ads, sponsored posts, and videos from influencers promoting the latest finds. The amount of content in feeds is increasing, to more than what customers can consume, leaving organic posts to become invisible and inundated by sponsored content. The more content is published, the more organic reach falls naturally. Because of this, social platforms are becoming a less viable channel for driving traffic.
Social media is a vital marketing tool for every company, but some brands have already cut back on their social engagement, emphasizing their outlook for building meaningful connections with their customers. With 90% of the U.S. population on social media, brands can’t “just leave.” Although social media presence is important, it is also equally important to be engaged with a targeted audience, which is where social media falls short. Social media is great for touchpoints and one-way interactions, but to really connect with customers and open up the door for long-term loyalty, brands must turn to channels that allow them to collect higher-quality data and build two-way, meaningful relationships.
Better Relationships and a Better Bottom Line
To overcome issues raised on social media platforms, businesses need a platform that connects both brands and their customers to create a sense of community. In fact, 27% of customers say belonging to a brand community influences their decision to do business with the brand and, 66% of companies claim their community has a positive impact on customer retention.
Bringing customers together in a social community can have an immense impact on not only sales but the overall customer-brand relationship. Brand communities have been co-existing with brands in the form of loyalty rewards and membership systems for years, but as consumer behaviors shift to be more digital, these communities are evolving simultaneously. By creating a space where customers can leave honest reviews and share insights, brands foster a community environment and empower customers to share real dialogue about products – taking the best parts of social media and recreating it within their own environment. Having these authentic engagements not just with the brand but with other shoppers fosters a deeper connection to the products and community, enhancing loyalty, and influencing buyer decisions. For brands, this means measurable and actionable engagement, leading to an increase in customer retention and, in the long-term, sales.
As 2023 comes to a close, the need for brands to build meaningful relationships with their audience as opposed to fleeting moments of attention comes to light. The future of brand building is all about understanding the customer journey, fostering communities, and harnessing the power of data. The brands that can do these things successfully will build loyalty and advocacy, and achieve new levels of customer satisfaction and experience.
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