Social media key for generating sales, study finds

New research shows that more companies are crediting social media for their sales volumes, freshbusinessthinking.com reports.

A study by Barclays Bank found that social media sites like Twitter, Facebook, Google+, LinkedIn and Pinterest had helped generate up to half of new sales, with the hospitality and leisure sectors in particular enjoying success via this channel.

Ten per cent of operators in these industries combined said that use of social media was responsible for up to half of their sales, while a third said it had caused 25 per cent of new business. Sixty-eight per cent said that they had attracted new customers via social media interactions.

Of course, use of social media is important, regardless of sector. It enables engagement with potential customers, builds brand loyalty and increases awareness through the many sharing functions that social media affords users.

It’s something that those in franchise services should consider adding to their marketing strategy, given the proliferation of smart phones and mobile devices that allow internet access any time, any where.

“Social media is everywhere and for many businesses it not only influences and directly generates sales, but provides a personal link with consumers, building loyalty and driving repeat footfall. This is vital when consumers are increasingly cost-conscious and discerning about where they choose to spend their hard earned cash,” explained Barclays’ Mike Saul to bdaily.info.