White Paper Reveals How Mobile and Social Media Have Major Influence Over Your Brand’s Customer Retention and Brand Reputation Management

Mobile technology and social media have revolutionized the way that we share, communicate and influence one another. With the rise of mobile and social media and the ‘like’ phenomenon, mobile and social media has led to a significant increase in how your customers’ and prospects’ buying habits are influenced. This can be positive for brands when they are doing everything possible to ensure a positive customer experience and at the same time can be devastating to brands that do not.

With over 65% of people owning either a tablet or a smartphone, social networking is no longer static. Rather, since these devices can go virtually anywhere, social media is now much more fast-paced and on the move. Recognizing this trend and its impacts is critical if you want to maintain your brand’s customer retention and reputation.

A recent survey conducted by Ipsos Reid uncovered some important statistics that demonstrate just how important mobile and social media is as far as brand recognition and social influence:

-          49% of Canadians surveyed said that they were either strongly influenced or somewhat influenced by what members of their social network had to say about brand or product recommendations.

-          41% stated that if someone in their social network “liked” a product or a brand they were more likely to try it than if it was not.

-          Almost half of those surveyed said that they “liked” at least one brand or product, with the younger generations (18-34) following an average of 5.

 

Taking into consideration just how crucial tapping into mobile and social media resources is, it is important to remember that just because someone likes a product or brand initially does not mean that they will continue to do so. The same survey found that almost 30% of respondents stated that they have ‘unliked’ or stopped following a brand if it no longer held their interest of if their loyalties switched.

Clearly these stats illustrate just how important it is to take advantage of the opportunities that present themselves through mobile and social media. Knowing all of this, how can you make sure that your followers or customers are ‘liking’ your product or brand, and how you can you maintain this following?

Ensuring that customers have a good customer experience at the point of purchase is vital. As easy as it is for a customer to “like” your brand, it is just as easy for customers to take to their social media when they have a negative experience. Consumers who love and rely on your brand as an important component of their shopping list can be extremely inconvenienced when they attend retailers who have moved your product or allowed it to go out of stock. It becomes frustrating because now they have two choices, be inconvenienced seeking out your brand or shift their loyalty to a brand that is more readily available.

As recently as last week we had a consumer post on one of our LinkedIn Groups about an bad experience they had at a retailer where changes to a floor plan and out of stock products led them to post on their Facebook about their experience, influencing their social networks’ opinion of the brand and retailer and lighting up a firestorm of controversy about this issue. The customer’s experience at the point of purchase can make or break a brand and social media and mobile create a platform for you not only to lose their business but also that of those in their social network.

Investing in merchandising and working with suppliers who can improve your customers’ experience at the point of purchase stops you from being impacted by changes retailers make in-store and a lack of organization at the retail level.

Ignoring the importance of social influence can be detrimental to your bottom line. For more information about the rise of mobile and social media or about our merchandising services please contact Storesupport at 1(877) 421-5081 or visit www.storesupport.ca.