Social Media Marketing More Utilized Than Ever Before Among World’s Biggest Companies

In an economy that increasingly requires companies to build dynamic, personalized relationships with consumers, many advertisers are turning to social media marketing as a means to do so for their clients.

According to an August 26 U.S. News & World Report article, social media is the best way for companies to develop something called Return on Relationship, or ROR, which, unlike the purely monetary-focused return on investment (ROI) measurement, “is the value that is accrued by a person or brand due to nurturing a relationship.”

But why should companies focus on their relationships with customers instead of the bottom line — profits?

The U.S. News & World Report article goes on to explain that many people have grown tired of the traditional way of advertising, disliking the feeling of being “sold to.”

Social media put the power of brand perception in the hands of the consumer, allowing them to influence the opinions of their friends, family and coworkers with their opinions on businesses and brands. An amazing 76% of consumers will recommended brands they trust to people they know, according to U.S. News & World Report.

As a result, social media has gradually transformed from a time-waster to a powerful marketing tool — and, according to one article, may explain why 98% of advertising firms that bring in $1 billion or more in annual revenue use social media as part of their clients’ marketing campaigns.

“Social media gives companies a chance to engage and interact with their customers and community,” says Tiffiny Hladczuk,President of ITS. “This allows companies to have a better understanding of what their customers are looking for and for the customers to experience what the companies offer.”

And just creating a social media page for your company isn’t enough to take advantage of Return on Relationship. According to U.S. News & World Report, companies must maintain constant engagement with customers to create tangible ROR results. Social media marketing is a continuous venture — but the benefits of this constant work can be immense.

Leave a Reply

Your email address will not be published. Required fields are marked *