Customers who engage with your social media channels spend up to 40% more than customers who don’t, according to Bain and Company’s recent ‘Putting social media to work' study.
Bain surveyed 3000 consumers and found that even those customers using social media to complain spent on average an extra 20% if they were engaged on Facebook and Twitter. However there was even more to be gained by engaging more positively with customers, as their chart below shows.
This shows how important IPM is as a performance measure: active engagement on your updates attracts customers to your fan page and increases your average customer spend. Bain’s findings also underline the need to pay attention to the dissatisfied customers on your wall. Not only are these customers worth money, but if you can respond to customer service responses quickly and pitch them well, you can increase the value of the customers you’re engaging with.
Sentiment tracking provides a much more nuanced view on how much the engagement on your page is worth. Manual sentiment tracking keeps this information accurate, and gives you a clear picture of how well you are doing at changing the customers Bain has termed ‘Detractors’ ( those posting negative feedback) into ‘Promoters’.
Efficient customer service on social media and paying attention to the sentiment on your page allows you to generate valuable customers through visits to your Facebook page. Now anyone, including non-fans, can engage with your page, the potential to attract ‘promoters’ has never been better.
You can read Bain and Company's report in full here.
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