A recent video via Mashable titled: Adapt or Die: How Social Media Affects Shareholder Value sparked our interest. To put it bluntly, it states that brands who do not listen to their customers on social media channels are doomed to failure. Conversely, brands who pay attention to what their fans on Facebook and followers on Twitter are posting and Tweeting about can not only increase customer satisfaction but also increase shareholder value as a result.
In the video we referenced above, Mashable provides an example of a brand that successfully paid attention to its fans on Facebook and took action to gives its consumers what they wanted. The case was that of Mattel and its decision to manufacture a bald Barbie with the option of hats, scarves and wigs after one consumer created a powerful Facebook campaign prompting the company to develop the non-traditional Barbie doll. This — says Mashable — is a prime scenario of a company that did its due diligence by paying attention. Mattel didn’t brush off the Facebook campaign… because it was highly powerful, drawing in countless followers. As any company should, Mattel focused its energy on the potent campaign and did something about it. As a result, Mattel proved it does not ignore its social media outlets and showed how strongly they can influence both the followers of a company and a brand itself. Also as a result the company gained respect and many loyal brand advocates.
If you’re a brand (big or small!) this story should prompt you to realize how truly significant and powerful social media is. If you have an account on Facebook, Twitter, Pinterest, LinkedIn or the like, it’s imperative that you keep it live, running and monitored. If you let things go by the wayside and don’t pay attention to your followers, they will take notice. Social media today serves — for brands — as a reflection of your company, your policies, your attention to detail and the level of care you have for your consumers.
Are you paying attention to your social outlets? Are you responding to your consumers? Are you presenting your brand in the best light possible? If you answer ‘no’ to any of these questions you could be in trouble. If you don’t listen, engage and adapt — you’re doomed. That’s a strong statement we stand by and one that we aim to utilize in order to help our clients! Come to us with any of your social media woes or wonders and we’ll help straighten them out.
Photo Thanks To: Sean MacEntee