3 Ways Social Media Continues to Drive Sales in 2015
Social media advertising isn’t new ‘ Facebook ran its first ad in 2005 ‘ but it has evolved significantly. As the world continues to cater to an ever-growing base of online consumers, it’s becoming increasingly important for retailers to explore new ways to use channels like Facebook, Instagram, and Twitter effectively. Indeed, content-driven approaches such as One King Lane‘s tend to have a more long-term stay when it comes to converting and retaining customers.
Here are three ways that social media continues to drive sales for savvy brands in 2015.
1. Fan Engagement
According to MediaBistro, 38 percent of Facebook users purchase a product after “liking” or “sharing” it, and half of all social media-driven purchasing happens within one week of sharing, tweeting, liking, or favoriting a product. With these high response rates, social media offers lucrative engagement opportunities.
When you leverage the power of social sharing, the results can be tremendous – take, for example, Marc Jacobs. The luxury fashion label unveiled a campaign leading up to New York Fashion Week encouraging visitors at their Manhattan pop-up shop to tweet and Instagram photos using a special hashtag. Select users were then rewarded with gifts like jewelry and perfume. The campaign resulted in more than 13,500 Twitter mentions and 4,300 Instagram mentions, leading to huge sales results.
Launched in 2002, Facebook Exchange allows brands to target their social media advertising campaigns at consumers who have followed a certain set of behaviors over a specific period of time. For instance, you may ask Facebook to show your ad for tennis rackets to consumers who have already visited your site and searched for tennis rackets in the past.
In 2013, Twitter placed its own retargeting offering in beta testing, signaling what could soon become a huge social opportunity for turning consumers into customers.
3. The Power of Pinning
A recent report from BI Intelligence showed that Pinterest influences 22 percent of women shopping for professional clothing, and 28 percent shopping for special occasion clothing. To capture this market, the upscale department store chain Nordstrom uses Pinterest Business to engage with consumers in a way that moves beyond mere promotion to something more akin to a personal stylist. Nordstrom’s Our Favorite Things board displays not only items available in stores, but items and inspirational images from throughout the Internet bolstering their brand as a go-to for stylish recommendations. Nordstrom also features a section of Top Pinned merchandise in stores to integrate their brand across all channels.
While your brand may have a social media presence, approaching these influential platforms requires an understanding of what they can do for you. With the proper approach, social media can be a huge driver of sales, and an important part of your retention marketing strategy.