- 70% of consumers are more likely to use a local business if it has information available on a social media site
- Restaurants with 3.5 stars on Yelp are 63% more likely to be full then those with just 3 stars – a half star difference!
- 42 Percent of Consumers Complaining in Social Media Expect 60 Minute Response
- 27% of total internet time is spent on social networking sites
- Yet, on average, companies respond to only 30% of social media fans’ feedback
Unfortunately a recent survey showed that more than one-third of CEOs fail to consider their company’s social media reputation when making business decisions.
How a Social Media Blunder Contributed to 800,000 Lost Netflix Subscribers
Netflix made a marketing and PR blunder back in September 2011 when they launched a new spin-off brand Qwikster and at the same time raised their prices. However they didn’t check to see if the social media profiles were available on all of the big social networks prior to making the announcement. The result, the owner of the Twitter handle (@Qwikster) wanted to sell the Twitter handle to Netflix. Netflix later decided not to launch Qwikster. The move angered their customers, whose voices were amplified and heard on social networks – and it ultimately led to 800,000 customer cancelations. The first and only quarterly loss of subscribers was from badly handled PR, social media and reputation management.
When Will Multi-Location Brands Take Notice and Act?
Another shocking statistic from the survey showed that more than 10% of organizations will not take any action to address a damaging article or social media post. It’s not surprising that larger companies are more likely to respond to damaging issue online within the first 24 hours.
It’s critical for companies to engage with their audience and defend their reputation when somebody takes aim at your company or services. It’s equally important to try and solicit more positive reviews on social networks. Many companies are simply not organized to manage a new world of customer communication that can happen on third party sites, and they haven’t invested in the tools to scale such operations (see Top 4 Digital Marketing Trends of 2014)
The infographic below takes a closer look at how social reputation management on social networks can be a blind spot for business executives and owners.
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Vivial will transform your Facebook, Twitter, Yelp and other properties into customers and sales. We’ll work with you to create social media programs that gain positive reviews and respond to negative ones constructively. Don’t let your business stand still with inactive social media accounts. It’s critical for businesses to monitor and respond to things that are being said about them online, not doing so will ultimately hurt your future sales.