Content Marketing Blog

Does your company have a social media strategy?

A social media strategy will prove vital for businesses in the next ten years, according to a new study.

The latest research from corporate advisory firm BDO indicates that social media will become the primary 'consumer watchdog' within the next decade, as users turn to online platforms such as Twitter and Facebook.

The Service 2020: Megatrends for the decade ahead global report stated that only one-third of Asia-Pacific companies proactively use social media to enhance relationships with their customers.

The report's eight "megatrends" for customer service around the world included managing evolving customer expectations through technology, maintaining service standards in an age of fast information delivery and using social media to a company's advantage.

According to BDO retail partner Simon Scalzo, it is essential for companies to recognise that they must adjust accordingly to the fact that social media is no longer just a fad.

"Social media is a part of society. Business needs to accept this and implement strategies that can utilise social media to its advantage," he said last week (March 19).

"Every customer now has an instant, global and searchable means to broadcast feedback about your business – good or bad."

Mr Scalzo believes that consumer purchasing decisions will become increasingly dependent on online reviews and feedback rather than advertising on mainstream media.

While this is a view that social media expert Laurel Papworth also shares, she explained that Twitter and Facebook campaigns can be used to promote public relations and encourage word-of-mouth advertising.

"Social media suits any type of company that has clients and has a lot of clients," she told the ABC today (March 28).

"And one of the main things you're looking to do in social media is to ensure that your customer is satisfied, so that they tell other potential customers."

Posted by Elise Ferrari