Social media, once seen as a liability and wild card within the business community, has started to really create some big waves. With these big waves have come big juicy positive stats for companies. To top it off, the millennial age group, the largest generation currently within the workforce, has latched on to social media as a platform to express themselves and voice their opinions. Giving your customer a voice can often be scary, and with a lot of trolls out there, you have to be careful. However, if you haven’t already looked at social media as a strategic marketing driver for your organization, you may get left behind.
As Jana Barrett discusses in her article, 63% of millennials report staying up to date on brands through social media and 46% of millennials use social media when making online purchases. Businesses are beginning to digest these statistics and leverage social media’s role in their customers’ lives. Today, 78% of companies report that they have teams dedicated solely to social media. Barret goes on to say that social media can boost customer service, customer engagement, product development, and e-commerce. Social media can even help with hiring new staff for your organization. So while this “social media” trend was once seen as a possible bubble or money pit, the stats don’t lie. It may be time for your company to start capitalizing. What are your thoughts?