The digital revolution has brought about a seismic shift in the way businesses operate and how consumers interact with brands. In the dynamic world of social media, its influence on businesses and consumers has become a paramount factor to consider. As we step into 2023, let's explore the profound impact of social media on these two key players.
According to TNS's Digital Life report, which surveyed over 72,000 internet users globally, a staggering 57% of people in developed markets express their reluctance to engage with brands through social media. This sentiment is even higher in the US, with 60%, and in the UK, with 61%. While these statistics might seem alarming at first glance, they shed light on the evolving expectations and demands of consumers.
However, digging deeper into the report, we discover that social media holds immense potential for businesses when approached strategically. Brands need to reconsider their target audience and build relationships on equitable terms, as demanded by consumers today. The power of social media lies not only in listening but also in responding appropriately. Connecting with a brand online creates a direct channel for communication, but it's crucial to ensure targeted and relevant messaging to avoid alienating consumers amidst the cacophony of online noise.
Furthermore, the report emphasizes that social media usage is primarily driven by our innate desire to socialize. Brands can leverage this by carefully considering their presence, timing, and interactions within the social media realm. It's crucial to think about what the brand brings to the socialization party, whom they engage with, and when they make their exit.
Delving into the consumer perspective, the Digital Life survey reveals that over half of the consumers surveyed comment about brands online to share brand content with their networks. This emphasizes the importance of driving advocacy and endorsement through content that resonates with consumers. When people believe they are adding value to their networks by sharing appealing and valuable content, the brand's efforts are amplified manifold, tapping into the consumer desire for expression and connection.
Interestingly, the survey also dispels the notion that consumers only talk about brands to complain. In fact, 61% of consumers make positive comments about brands to praise their experiences. While negative reviews do have a greater impact on consumer perceptions, maintaining active and engaged brand communities can counteract negativity. These self-sustaining communities not only protect the brand but also drive advocacy and foster a sense of genuine benefit derived from participation.
In today's fragmented touchpoint journey to purchase, consumers expect brands to keep them up to date with the latest information. The report underscores the importance for brands to provide timely and accurate information, as failing to do so risks being replaced by consumer-generated or boot-legged material.
Brands must understand the attitudes and motivations of consumers, allowing them to signal their affiliation with a brand effectively. By providing value-added content, extending services, and increasing consumer engagement, brands can cultivate stronger relationships. Active brand communities, whether owned or earned, contribute to dispelling negativity perceived as unfair, further strengthening brand advocacy.
As we navigate the social media landscape in 2023, businesses must evaluate their role and value proposition beyond their core products. By understanding the nuances of geography, industry categories, and target audiences, brands can create tailored campaigns that resonate with consumers. In this "noisy" environment, quality endorsement from influential corners far surpasses the volume of commentary.
In conclusion, social media's impact on businesses and consumers in 2023 cannot be underestimated. While there may be initial hesitancy from consumers to engage with brands, strategic approaches that prioritize targeted messaging, personalized interactions, and valuable content can unlock the immense potential of social media. By understanding consumer motivations and preferences, brands can establish meaningful connections, drive brand advocacy, and thrive in the digital age. The data and statistics from TNS's Digital Life report provide valuable insights into the evolving landscape of social media and its impact on businesses and consumers.