3 Social Media Myths and Facts

 

Consumer insights on social media myths

Interesting article from the Gallup Management Journal entitled, “Social Media: The Three Big Myths” (http://bit.ly/mPqwh8).

The article is based on a study Gallup conducted with more than 17,000 social media users.

The findings debunk three big myths regarding social media:

  1. That it effectively drives customer acquisition
  2. That social networking is an online-only phenomenon
  3. That social networkers are all the same

Myth: Social media initiative drive customer loyalty and acquisition.

Fact: Brand engagement drives social engagement.

Social media initiatives have little to no impact on consumer decision-making.  Nor do they drive prospective customers to consider trying a brand or recommending a brand to others in their social network.

Consumers are far more likely to rely on personal recommendations from a spouse, close friends or family in making decisions rather than company-sponsored online ads, Facebook pages or Twitter feeds.

Brand-sponsored social media initiatives don’t have much influence on a customer’s deep emotional and rational attachment (i.e., customer engagement).

Customer engagement is the fulfillment of four psychological needs and three rational needs.

The four key psychological elements are:

  1. Confidence
  2. Integrity
  3. Pride
  4. Passion

The three key rational elements are:

  1. Overall satisfaction
  2. Likelihood to continue using
  3. Likelihood to recommend (Net Promoter Score)

The more emotionally attached consumers are to you product, service or organization, the more likely they are to resolve tension between their positive and negative beliefs and experiences.

Consumers are more predisposed to be positive about your organization and more willing to work on your behalf with social networks than are prospects who are less engaged with your organization.

Customers are more likely to “give you a pass” when they have something negative to say if they are highly engaged.

Prospective customers are much more likely to try your product or service or advocate on your behalf if they hear good things about you from an engaged customer in their social network.

Myth: Social networking is an online-only phenomenon.

Fact: Social networking predominantly happens offline.

Social networking is the act of engaging a social network.  Social media comprises channels through which people network.  Digital only social media initiatives are leaving far too many prospects and customers untapped.

The most frequent type of social networking is still face-to-face or over the phone.

Myth: All social networkers are the same.

Fact: People use social networks in very different ways — and for very different reasons.

Since social networkers have different reasons why and how they use their networks, it stands to reason you need to understand how and why your target audience is using social media and align your initiatives to their use.

How will the realization of these myths change how you use social media?

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About Insights From Analytics

Integrated marketing professional who generates insights from analytics to increase revenue. Daily blog now resides at www.insightsfromanalytics.com/blog.
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