More proof that socially engaged consumers spend more
One of my favourite stats is the one from Radio Shack in the US about customers checking in via Foursquare spending significantly more money than those that don’t.
It’s a proof point that illustrates the need for marketers to look beyond the big number: Never mind how many people are on network X, who are they and what are they doing? And it shows, someone who interacts with you on social channels is more likely to – to put it crudely – buy your stuff.
Essentially Bain found that “customers who engage with companies over social media spend 20 percent to 40 percent more money with those companies than other customers.” Why invest in social media? There’s the answer, especially in these tough economic times, engaged consumers are more likely to get out the credit card / cheque book.
Possibly the most interesting chart though from the Bain report is this one. It shows how social media has ticked a number of boxes from awareness to purchase to retention for major brands.
Cut out and keep and send to your boss / client!
- How social chatter drives TV ratings (liesdamnedliesstatistics.com)
- Engaged Social Media Users Spend Up to 40 Percent More [Data] (hubspot.com)
- Poll Shows High Use of Social Media for Healthcare Marketing (healthcaremarcom.wordpress.com)
- Parents catching on to communicating with kids via social media (zdnet.com)