Companies using social media marketing name cost savings, real-time insights top benefits

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by Brafton Editorial
Social media marketing's value continues to evolve with companies using the channel to identify new audiences and better serve existing customers.

A report for the Market Publishers found that companies active in social media marketing have found their ability to save money and gather real-time insights on their industries as two of the top benefits they’ve seen. Moreover, social media content can help organizations improve their presence and engagement with their targeted audiences.

Nearly 60 percent of responding companies said social marketing has been more cost effective than other channels used for similar purposes, and 46 percent said they’ve been able to receive a number of insights more quickly. For example, a marketer can poll followers to gauge the effectiveness of a campaign or overall satisfaction with certain products or services.

Forty-two percent of respondents said social media marketing has helped their businesses identify different areas they should focus on with their products and services or new markets to target. In general, social content has become one of the most direct communication lines between a company and its user base.

Within Market Publishers’ study, customer service was not a highlighted area specifically, but Brafton has frequently detailed the value of the channel for quickly addressing customer feedback and complaints. Still, a study from STELLAService found that just 44 percent of Tweets sent asking questions or otherwise are answered by businesses on social networks. These leads to missed reputation management opportunities and potential sales, as 64 percent of consumers are more likely to buy from brands that answer their questions on Twitter.

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