SUMMARY: Stupidity is defined as doing the same thing over and over and expecting different results. 91% of business executives plan to increase their social media budgets over the next three years despite fewer than half of companies who describe their social media strategies as “very effective” when measuring its power to strengthen brand image, raise awareness, increase sales or growing the customer base.
QUICK READ: Consumer reviews of products can influence purchase decisions or they can erase months of marketing if not answered quickly and correctly. Too many brands are ignoring bad reviews or their products and customer service and it’s hurting them where it counts.
QUICK READ: 20% of consumers are following brands on social media, but marketers should not apply that blanket statement to all products. It’s more likely that consumers will follow brands that make products they care about, like hard goods (i.e., electronics) or exercise equipment.
QUICK READ: Consumers don’t have time to follow all the brands in their pantry but to say that “in the real world, consumers are massively not joining conversations about our brands. They are not committed to having relationships with them. They do not want to “engage with our content,” and are not fascinated by our “brand stories.” They do not consider themselves part of a “community” or “tribe” that has our brand at the center” is a mistake.
SUMMARY: The idea that consumers don’t want relationships with brands is not entirely correct. It depends on the product as well as the brand. There are some brands that consumers love to talk about on social media, but most others just give me a good product at a good price.