Impact of social media on retail and hospitality

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Social Media Impact on retail and hospitality

Every business and brand needs to be heard so that it can reach out to its potential customers and to increase and improve its returns for the existing ones. What better platform other than the social media.

The companies these days embrace social media since they are the customer’s voice and can be heard, read, and voiced out by one and all around the world. Thus, this is one of the medium for people all around to engage with one another and probably a brand thereafter. Been interactive, they are widely used for marketing products, advertising, hiring apart from socialising.

The retail and the hospitality industries are the two leading industries that standout in attracting customers through social media.

Twitter, Linked In are mostly business-related. The hospitality industry uses these media to promote their business, i.e. arranging discounts for travellers during off-season, or arranging theme nights for promoting their hotel, offering customer service on social media and answering their queries back thus satisfying the users who use them.

The Retail industry uses just 6% of the social media to address customer queries, 14% for marketing, 12% to promote their business. On a count, 45% retailers are active on the social media promoting their business online.

These media provide cost effective channel for marketing. According to the statistics, about nine out of ten cite job satisfaction, 80% have developed better relationships and about 80% have noticed gains in their productivity.

The top ten best social media used in UK, 2011 Sept are:

Social Media and Its Impact on Retail

51% use face book, 22.5% You Tube,3.4% Twitter, 2.3% Yahoo Answers, 1.16% Gumtree, 0.96% Linked In, 0.84% Tumblr, 0.43% moneysavingexpert, 0.39% and 0.37% used Moshi Monsters

40% Brits use TripAdvisor and Face book reviews for holidaying over the past 12 months.

Sourced from: http://www.newmediatrendwatch.com/markets-by-country/18-uk/152-social-networks-and-ugc

Social media marketing is the trend followed today for getting one’s industry found on these media.

Retailers can create group or company page promoting the company’s business to attract followers or people who ‘like’ their business or brand. On Twitter, users can ‘tweet’ or ‘re tweet’ thus creating large amounts of content to the online communication landscape. Twitter users follow brands more than those on face book. The retailers on twitter engage themselves with other consumers through the micro-blogging platform by using it for promotion of their brands, offering discounts on their products, new product information, answering the queries of the followers, thus connecting well with them. You Tube is the second largest media used where users can upload their promotional videos. The hospitality industry uses Foursquare for most of its marketing. Diesel is the first retail industry which pioneered the use of Four Square. A case study on Face book which brings forth that it is used mostly as virtual meeting arena where exchange of information takes place apart from the bonds that are developed among the members.

Replying to comments, one to one interaction, reading posts regularly and writing comments on others’ blogs, posting blogs, using correct grammar instead of the SMS language, offering customer service, sharing photos, reviews, displaying customer testimonials, encouraging online customer feedback’s to name a few, help in getting the industry found on the social media.

To know more, Contact us for social media marketing of retail and hospitality industry.

To know more about our Social Media marketing services click here !

Every business and brand needs to be heard so that it can reach out to its potential customers and to increase and improve its returns for the existing ones. I there a better platform than social media.