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The evidence. And why
                                 this may not be the right
                                     question to ask in
                                         isolation

Show me the sales! How does social media drive
the bottom line?
83% of consumers globally
  are likely to visit a website
   recommended by a friend
          on Facebook




                                     More than half say comments posted on
                                     retailers’ Facebook and Twitter pages,
                                       whether positive or negative, also
                                             influence their opinions
                                        (Global Shopping habits survey)



1 - We pay attention to what our friends say online
62%


                 70%



                                                           61%

2 - Consumer opinions online are trusted more than information found on TV
or in newspapers (Nielsen)
In Europe - over 50 percent of respondents aged
                         16 – 64 with access to the Internet use social
                       networks to assist with shopping decisions (IBM)




3 - We use social media to research what we want to
buy
"Customers who engage with companies over
         social media spend 20 percent to 40 percent
         more money with those companies than other
         customers.” (Bain & Co)




4 - If socially active online, we spend more
A study in South Korea (a mature social media market) found
       that social impacts sales among moderate and heavy users.
      Recommendations shared among moderate social media users
                       increased brand sales by 5%
                        (Harvard Business School)




5 - There is a correlation between social media
recommendations and a sales uplift
The top 20% of users spend $67 per quarter, compared to $27
                  for non Facebook users (Comscore)




6 - The biggest Facebook users spend the most money online
Twitter
   averages
 19.04 clicks
  per link vs
   2.87 for
  Facebook
                                                   According to a
(SocialTwist)
                                               Kantar Media study
                                                 in the US, 35% of
                                                social media users
                                                   say Twitter has
                                                  influenced their
                                               purchasing decisions




7 - Though smaller than Facebook, Twitter plays a big
part in fostering brand recommendations
Radio Shack in the US found that customers
              checking into their stores on Foursquare spend
                     3.5x more than those that don't




8 - It is not just about Facebook and Twitter -
smaller networks can also bring commercial
benefits
Super fans and advocates
                    on your social channels are
                     50% more likely to create
                     content that influences a
                        purchase (ComBlu)




9 - Super-fans can become an auxiliary sales team
In the 'quick serve industry',
  consumers exposed to social
    media have a 7x greater
       likelihood of 'higher
      spend' (WPP / Ogilvy)




                                   60% of consumers say they factor
                                   other travellers' online reviews
                                   into their plans when booking a
                                   vacation / holiday (eyefortravel/
                                   Simpliflying)




10 - The picture is the same when looking at individual
industry sectors
But - is asking ‘show me the sales’ the right question to ask in
isolation?
Social media is more powerful when seen as
helping to protect your brand reputation, assist the
overall cycle and (ultimately) change behaviour
‘Cyber-disinhibition’ means
    20% of consumers now feel
     empowered to lash out at
   consumers online (Euro RSCG)


                                     A single bad tweet or
                                  Facebook comment can cost
                                  you 30 customers (Convergys
                                             Group)




If you don’t catch it, negative sentiment can harm
your brand - consumers increasingly go online to
complain
The importance of monitoring, capturing and
responding to comments




   (Source - Conversocial)
Social media doesn’t
impact sales in isolation
  It impacts the whole
       sales cycle
Social media is at its most powerful when changing
consumer behaviour - one example, Movember
More info and resources

All the original links are on a blog post - liesdamnedliesstatistics.com/2012/01/
showmethesales.html


Image credits via Creative Commons, thanks to the following:

 Cabbits http://www.flickr.com/photos/cabbit/113614750/
 The Ticket Collector - http://www.flickr.com/photos/conversely/464062416/sizes/z/in/photostream/
 Denis Dervisevic - http://www.flickr.com/photos/denisdervisevic/4745520501/
 401k - http://www.flickr.com/photos/68751915@N05/6355351769/
 Kurt Christenen - http://www.flickr.com/photos/subcow/280962961/sizes/z/in/photostream/
 Whisky Gone Bad - http://www.flickr.com/photos/badwsky/2110524585/sizes/z/in/photostream/
 CC Harmon - http://www.flickr.com/photos/9439733@N02/2556781651/sizes/z/in/photostream/
 KC Toh http://www.flickr.com/photos/36000391@N07/4446929018/sizes/z/in/photostream/Acediscovery http://www.flickr.com/photos/
 acediscovery/4695798828/sizes/z/in/photostream/
 TPCom http://www.flickr.com/photos/tpcom/3246111473/sizes/z/in/photostream/
 HubSpot http://www.flickr.com/photos/hubspot/3111238226/sizes/m/in/photostream/
 Gerard Stolk http://www.flickr.com/photos/gerardstolk/5079217358/
 British Midland International (disclosure - Rabbit client) http://webstagram.com/n/flybmi
 babyben - http://www.flickr.com/photos/babyben/4757347232/
 Martin Deutsch - http://www.flickr.com/photos/teflon/5292940718/
 Hans and Carolyn http://www.flickr.com/photos/hansandcarolyn/3060606530/
 ehnmark - http://www.flickr.com/photos/ehnmark/463965443/
 Eltman - http://www.flickr.com/photos/eltman/2155938264/sizes/z/in/photostream/
 Zizzybaloobah http://www.flickr.com/photos/zizzy/51737298/
 Inha Leex Hale http://www.flickr.com/photos/sixmilliondollardan/2493495506/
 Thomas Quinones http://www.flickr.com/photos/tomascosauce/2478950420/sizes/z/in/photostream/

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Show me the sales! How social media impacts the bottom line

  • 1. The evidence. And why this may not be the right question to ask in isolation Show me the sales! How does social media drive the bottom line?
  • 2. 83% of consumers globally are likely to visit a website recommended by a friend on Facebook More than half say comments posted on retailers’ Facebook and Twitter pages, whether positive or negative, also influence their opinions (Global Shopping habits survey) 1 - We pay attention to what our friends say online
  • 3. 62% 70% 61% 2 - Consumer opinions online are trusted more than information found on TV or in newspapers (Nielsen)
  • 4. In Europe - over 50 percent of respondents aged 16 – 64 with access to the Internet use social networks to assist with shopping decisions (IBM) 3 - We use social media to research what we want to buy
  • 5. "Customers who engage with companies over social media spend 20 percent to 40 percent more money with those companies than other customers.” (Bain & Co) 4 - If socially active online, we spend more
  • 6. A study in South Korea (a mature social media market) found that social impacts sales among moderate and heavy users. Recommendations shared among moderate social media users increased brand sales by 5% (Harvard Business School) 5 - There is a correlation between social media recommendations and a sales uplift
  • 7. The top 20% of users spend $67 per quarter, compared to $27 for non Facebook users (Comscore) 6 - The biggest Facebook users spend the most money online
  • 8. Twitter averages 19.04 clicks per link vs 2.87 for Facebook According to a (SocialTwist) Kantar Media study in the US, 35% of social media users say Twitter has influenced their purchasing decisions 7 - Though smaller than Facebook, Twitter plays a big part in fostering brand recommendations
  • 9. Radio Shack in the US found that customers checking into their stores on Foursquare spend 3.5x more than those that don't 8 - It is not just about Facebook and Twitter - smaller networks can also bring commercial benefits
  • 10. Super fans and advocates on your social channels are 50% more likely to create content that influences a purchase (ComBlu) 9 - Super-fans can become an auxiliary sales team
  • 11. In the 'quick serve industry', consumers exposed to social media have a 7x greater likelihood of 'higher spend' (WPP / Ogilvy) 60% of consumers say they factor other travellers' online reviews into their plans when booking a vacation / holiday (eyefortravel/ Simpliflying) 10 - The picture is the same when looking at individual industry sectors
  • 12. But - is asking ‘show me the sales’ the right question to ask in isolation?
  • 13. Social media is more powerful when seen as helping to protect your brand reputation, assist the overall cycle and (ultimately) change behaviour
  • 14. ‘Cyber-disinhibition’ means 20% of consumers now feel empowered to lash out at consumers online (Euro RSCG) A single bad tweet or Facebook comment can cost you 30 customers (Convergys Group) If you don’t catch it, negative sentiment can harm your brand - consumers increasingly go online to complain
  • 15. The importance of monitoring, capturing and responding to comments (Source - Conversocial)
  • 16. Social media doesn’t impact sales in isolation It impacts the whole sales cycle
  • 17. Social media is at its most powerful when changing consumer behaviour - one example, Movember
  • 18. More info and resources All the original links are on a blog post - liesdamnedliesstatistics.com/2012/01/ showmethesales.html Image credits via Creative Commons, thanks to the following: Cabbits http://www.flickr.com/photos/cabbit/113614750/ The Ticket Collector - http://www.flickr.com/photos/conversely/464062416/sizes/z/in/photostream/ Denis Dervisevic - http://www.flickr.com/photos/denisdervisevic/4745520501/ 401k - http://www.flickr.com/photos/68751915@N05/6355351769/ Kurt Christenen - http://www.flickr.com/photos/subcow/280962961/sizes/z/in/photostream/ Whisky Gone Bad - http://www.flickr.com/photos/badwsky/2110524585/sizes/z/in/photostream/ CC Harmon - http://www.flickr.com/photos/9439733@N02/2556781651/sizes/z/in/photostream/ KC Toh http://www.flickr.com/photos/36000391@N07/4446929018/sizes/z/in/photostream/Acediscovery http://www.flickr.com/photos/ acediscovery/4695798828/sizes/z/in/photostream/ TPCom http://www.flickr.com/photos/tpcom/3246111473/sizes/z/in/photostream/ HubSpot http://www.flickr.com/photos/hubspot/3111238226/sizes/m/in/photostream/ Gerard Stolk http://www.flickr.com/photos/gerardstolk/5079217358/ British Midland International (disclosure - Rabbit client) http://webstagram.com/n/flybmi babyben - http://www.flickr.com/photos/babyben/4757347232/ Martin Deutsch - http://www.flickr.com/photos/teflon/5292940718/ Hans and Carolyn http://www.flickr.com/photos/hansandcarolyn/3060606530/ ehnmark - http://www.flickr.com/photos/ehnmark/463965443/ Eltman - http://www.flickr.com/photos/eltman/2155938264/sizes/z/in/photostream/ Zizzybaloobah http://www.flickr.com/photos/zizzy/51737298/ Inha Leex Hale http://www.flickr.com/photos/sixmilliondollardan/2493495506/ Thomas Quinones http://www.flickr.com/photos/tomascosauce/2478950420/sizes/z/in/photostream/