David Ogilvy mentioned in his book Confessions of an Advertising Man (1963), that TV had not yet been sufficiently studied. It was difficult for him to go out and make advertisements, seeing as there wasn't really any information as to how much it would increase sales. Nowadays, the TV situation seems to be quite different, while the proven benefits of new media are still being questioned.
While social media has not yet been studied extensively enough, smaller-scale studies can be found. Here are a few of which we have discussed at Dingle.
1- The Facebook-factor (2012)
10,079 American adults were involved in this study, which looked at the correlation of Coca-Cola's, Walmart's, Best Buy's and Blackberry's sales and fans. According to the study: ”Brand engagement is a driver of loyalty and purchase”. For example, being a Facebook fan has almost double the impact on purchasing from Walmart as having a Walmart near your home.
One out of three Facebook fans is more likely to buy your product if they have liked, shared or commented on your page.
“Facebook is more likely to drive a purchase with in early 1 in 3 social media users making a purchase after sharing, liking or commenting on a post. More dramatically, 29% of these social buyers make that purchase within 24 hours.”
We talk a lot about interaction and that people want to talk to brands. This is true, but the biggest reason is the information on discounts and benefits. Do we sell to customers based on price or the wonderful benefits our products or services offer them? The same challenge forms in social media.
This IAB study shows that being a fan is significant.
"90 per cent of consumers would recommend a brand to others after interacting with them on social media."
5- The importance of customer service: 42% of consumers expect an answer within an hour (2012) This study was already carried out last year and its importance has certainly grown as social media usage has increased. This is a major challenge for customer service, communications and the resourcing & coordination of the marketing process.
It is, of course, always good to question studies and to find out the truth by trying yourself. In todays environment, no brand or organization should go on without trying out the opportunities that social media has to offer them.