Retail Brands Set Up Shop on Social Media in Time for Holidays
Study Reveals Sephora and Amazon Are Top Performers When Engaging With Consumers on Social Media
SAN FRANCISCO – November 7, 2016 – Lithium Technologies today announced findings from its State of Social Engagement 2016 study for the retail industry that uncovers how well Fortune 1000 retail brands are engaging with consumers across social platforms. The study revealed that the retail industry did well in interacting with their consumers, providing insights into the products they sold, posting content about getting the most from those products and often linking to promotions that can drive sales. [click to Tweet]
The stakes are higher than ever for retailers this holiday season, with the National Retail Federation estimating that holiday sales will increase to $656 billion this year. The State of Social Engagement showed that retailers are prioritizing engagement, collaboration with influencers and online communities in order to bolster customer satisfaction, and ultimately sales. As retail brands seek to garner attention from consumers during the holiday rush, it is crucial for them to engage, listen and respond to customers on social media. In fact, Twitter found that customers are willing to spend up to 20% more with a brand if that brand responds to their social media activities.
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response times (Facebook):
The State of Social Engagement unveiled the tactics retail brands are successfully using on social media:
“With the holiday rush right around the corner, it’s a crucial time for retail brands to ramp up their social strategy,” said Katy Keim, CMO of Lithium Technologies. “The results of our study show that the brands responding to customers quickly and creating personalized experiences on social to guide their purchases do well in boosting customer satisfaction, loyalty and ultimately, sales.”
In particular, the State of Social Engagement uncovered the areas of social media where retail brands succeed over the other surveyed industries (telecommunications, consumer products, travel & hospitality, financial services, media, technology and pharmaceuticals):
The Retail edition of The State of Social Engagement 2016 rated eight Fortune 1000 brands – Sephora, Lululemon, Target, Nike, Amazon, Walmart, REI, and The North Face – across branded online communities as well as five of the most popular social channels used by consumer brands to engage with customers: Facebook, Twitter, YouTube, Instagram and Pinterest. Altogether, the report examined eight industries: Retail, Telecom, Consumer Products, Travel & Hospitality, Financial Services, Media, Technology and Pharmaceuticals. To download the full study, visit lithium.com/state-of-social.
About Lithium: Lithium builds trusted relationships between the world’s best brands and their customers, helping people get answers and share their experiences. Customers in more than 34 countries rely on Lithium to help them connect, engage, and understand their total community. With more than 100 million monthly visits over all Lithium communities and 750 million online profiles scored by Klout, Lithium has one of the largest digital footprints in the world. Using that data and the company’s software, Lithium customers boost sales, reduce service costs, spark innovation, and build long-term brand loyalty and advocacy. To find out how Lithium can transform your business—and to share the experience enjoyed by 300 other leading brands around the world, visit www.lithium.com, join our community at community.lithium.com, or follow us on Twitter @LithiumTech. Lithium is a privately held company headquartered in San Francisco.
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