Social Media and its Impact on Retail

Business should seriously contemplate investing in social media.  It will provide a way for the company or brand to further enhance their relationship with their customer base.  if using Facebook, many consumers will “like” companies or brands they like and will look for posts that involve new products or discounts.  On Twitter, customers can tag businesses in tweets and will receive an almost immediate response.   “By letting the public behind the fashion influencer curtain, stalwarts and luminaries have created and connected to an entirely new audience, and capitalized on the 400 million Facebook users and more than 22 million Twitter users. Social media, it seems, has become the hottest trend since skinny jeans and stiletto heels”(Prabhakar 2010).

By embracing social media, your business becomes transparent.  This transparency gives the consumer a louder voice in products and services.  The consumer has a larger influence on the brand now and its a give and take relationship that will benefit both the company and the consumer.  Not only is it cheaper than typical advertising, you can reach more people on a more intimate level.  “Businesses now, through Social Media, are working to reverse the effects time has had on the personal customer experience by engaging users to create more loyalty“(Wong 2011).

 

http://mashable.com/2010/02/13/fashion-industry-social-media/

http://thenextweb.com/socialmedia/2011/05/02/how-social-media-has-helped-to-reshape-marketing/

http://www.socialmediaexaminer.com/6-ways-to-track-the-impact-of-social-media-on-public-relations/

 

 

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One response to “Social Media and its Impact on Retail

  • mckeeverunt

    Not only does social media make a business somewhat transparent, but it also gives the consumer a connection with the company that they would not get by just going to the actual store or website.

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