Consider this – of the 3 billion active users of the internet across the globe, 1.7 billion people have active social media accounts. Furthermore, the 2012 State of Inbound Marketing report has mentioned that social media has a 100% higher lead-to-close rate than outbound marketing. Beyond doubt, social media is an efficient and effective platform to increase customer engagement and revenue. Yet, there seems to be a conundrum when it comes to social media investment – not everyone is on the same page and top management is no exception to it.
When it comes to social media, there are certain things that work with your target audience, and certain things that just don’t click. The plethora of options to socially engage with relevant consumers today leaves businesses in a fix – what approach do I adopt to build an engaging and meaningful relationship with my core consumers? A closer look at your competitors, especially the socially successful and socially savvy ones, could hold the answer to your dilemma.