Do you rely on social media for your sales?
What if using social media for business actually harmed your sales?
Internet Psychologist Graham Jones is speculating on new research from The School of Business, University of Philadelphia, that shows that while social media can improve business in the short-term, in the long-term it actually harms sales.
The study is not yet published but it suggests that businesses get caught in a vicious cycle of building followers who make an initial purchase but who quickly get fed up with the social activity and unfollow them.
They have to keep getting more new followers to get more sales – and that’s expensive.
Do you rely on social activity for your sales?
If this study proves it could be doing you more harm than good, what will you do instead?
What did we do before social media marketing?
The advertising industry is in dire straights as consumers increasing ignore or block adverts.
Consumers are in charge, researching potential suppliers before businesses are even aware of them.
What still works is building relationships, building a reputation and building trust.
Social media is great for this but it requires us to be “social” and not to use the platforms as “media”. (I feel as though I’ve been here a few times before in the last ten years!)
As small businesses we have a huge advantage over big corporations.
It’s easy for us to personal.
We know our customers more intimately.
We know how to talk to them and now is the time to do it.
Apart from building trust and reputation, it makes economic sense. It’s a lot cheaper to get an existing customer to buy more than to constantly seek new customers.
How good are you at talking to your customers?
How are your repeat sales?
Need help having those conversations? Let me know!