Articles: Consumers will pay more if you're on Social Media
Date Added: 11/09/2013 @ 10:46am
Astonishingly it seems that customers are willing to pay slightly more for products or services if the company has a good grasp on Social Media.
Recent research suggests that, businesses and consumers are actually opting to pay up to 10% more for brands that offer intereresting and engaging content on their social media feeds.
The study by Axonn Research showed that 67% of people questioned were more likely to purchase from brands that they enjoy hearing from, even if it costs them slightly more than from a brand that doesn't engage socially.
Nearly 70% of people asked would be happy to give out contact details in return for premium content (like white papers).
Over half those businesses using social media websites (like Facebook, LinkedIn and Twitter) stated that they saw an increase in conversions into sales directly related to the use of social media websites. Almost 3/4 of those using content marketing stated that they had an increase in website traffic as a result.
No time
Unfortunately though, the same research revealed that only 1 in 3 marketers had enough time to create content marketing campaigns properly. Most blamed a lack of financial or human resources as the main reasin for this.
Fergus Parker, CEO of Axonn Media, noted that since the term's inception in 2009, 'content marketing' has become one of the main ways organisations attract and engage with their online audiences and this data shows this is paying off with increased sales.
'It’s important for businesses to note that their online efforts are being rewarded with a willingness among consumers to pay 5 to 10 per cent more for their goods and services, which can make a real difference to the bottom line', he adds, 'As is often the case a lack of time, finance and expertise were cited as the main reasons why firms didn’t interact more with their target market, something which business leaders may wish to look at in light of this positive new data.'
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If you run a small business, you probably know the pressure of keeping on top of everything and keeping your website and or social media campaigns up to date can be a daunting and low priority task.
As a part of our maintenance and updates services, we help our clients to run Facebook campaigns, Twitter feeds, and blogs for several of our clients. This can often include researching new ways to engage your audience.
To discuss any of the services mentioned above, or for advice in setting up social media or email campaigns, give us a call on the number at the top of the page or drop us an email to dave@doivedesigns.co.uk.
This article is based on the SmallBusiness.co.uk article: 'Consumers go for products with social media buzz'