New research suggests that businesses can see a direct and positive impact on their bottom lines when they make themselves available to customers via social media platforms—especially Facebook.
The University at Buffalo School of Management recently examined data related to individual customers’ participation on a Facebook page and combined it with their actual purchases at a large specialty firm in the Northeastern United States.
The results showed that customers who participate in a firm’s social media visit the business about 5 percent more frequently than those who don’t.
While past studies have shown a belief by many business owners that social media drives sales growth, and that a vast majority of small businesses do network online, there has also been indication that many, if not most, corporate CEOs still don’t fully understand or embrace social media marketing. Read the rest of this entry »