As per our ClickZ and Search Engine Watch pulse survey’s latest insights, ‘Advertising & Promotion’ is the top marketing technology that piqued senior marketers’ interest in September. Our Marketing Intelligence September report shares a deep dive analysis of seven-day rolling averages and shows ‘Search & Social Advertising’ as the front runner in this technology segment. This week we help you establish how social media strategy can catalyze digital transformation and help across business verticals like sales, customer relationships, customer service, and how matured brands are harnessing the power of social media.
Deloitte states that 77% of CEOs report that digital transformation efforts have significantly accelerated and 70% of CEOs are prioritizing changes to customer behavior as the most important factor setting their future direction. To help you understand social media’s instrumental role in digital transformation, we’ve chosen data-backed paths by Gartner and Hootsuite.
Hootsuite highlights different business outcomes that were achieved in marketing and sales functions. Hootsuite’s and Altimeter Group’s survey of 2,162 marketers that conducted in-depth interviews with leaders working in large enterprises using complex social media strategies, to find answers to these critical questions:
Some key findings from the survey were:
Gartner benchmarked 118 brands across based on their digital customer service strategies. The sectors included Big Box retailers, department stores, fashion, specialty retail, grocery, financial services, watches & jewelry, and hotels.
Gartner’s magic quadrant categorized these market players based on ‘Self-service features’ (such as FAQ pages and chatbots) vs ‘Assisted channels’ (live chat and Twitter usage).
These 118 brands were then plotted on a two-dimensional grid into one of four distinct quadrants: ‘Leaders’, ‘Hand Holders’, ‘Set It and Forget It’ or ‘Laggards’.
Surprisingly, there are just five customer service leaders in 2020.
Specialty retail rules the top five leaders’ list who are great technology adaptors for customer service:
Laggards comprised 53% of the total showing an assortment of many sectors that have a relatively immature approach to digital customer service strategies. The list shows:
Surprising? You can see their scores and more on how all the other industry players are placed on Gartner’s customer service magic quadrant 2020.
Mature social media practitioners increased their social advertising investment, saw increases in brand sentiment, and remain connected to a diverse set of constituents through social media.
These were some key findings from Hootsuite’s and Altimeter Group’s survey which spanned over 1K respondents across 12 industries:
In addition to the above, the study also found that from a sales perspective, the use of social media increased both brand differentiation and lead quality while reducing customer acquisition costs.
Here’s how mature brands have extended their social media strategy beyond marketing and communications.
Making your employees a voice to generate positive exposure for your brand and its offerings through digital platforms has served great results with reduced social media advertising spends being the biggest benefit, followed by better brand health, more customer satisfaction, and improved sales efficiency.
SODEXO’s employee advocacy program included 250 senior executives which drove substantial traffic, doubling the monthly average of new followers to the company’s LinkedIn page.
Kim Beddard-Fontaine, SVP of digital and employee communications at SODEXO, explained,
“The less frequent sharers were getting stronger engagement and therefore generating more trust versus just showing a lot of content on their social networks.”
Social media practitioners should create incentives that encourage quality engagement over quantity, keeping in mind the relationships each person wants to develop.
Overall, while 28% of all respondents reported that they can attribute value to business outcomes driven by social media (such as leads, sign-ups, donations, downloads, and purchases). Mature brands were 1.5x as likely to report they have tracked sales partially attributed to social media.
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