A little over a year ago, STORES Magazine featured a cover story on Facebook. At the time we reported that only a handful of retailers were dabbling in the space, but those who were found the conversation to be engaging – because they were connecting one-to-one with customers, and because it opened a window to new possibilities. Where would the conversation lead them? And importantly, were they prepared to go?
Now just 14 months later Facebook has exploded. Hundreds of retailers have set up Facebook pages and they’re networking freely with shoppers. Though business inside traditional stores slowed, shoppers continued to seek out their favorite brands and coveted retail stores via social networking sites in an effort to keep a finger in the pie. They kept track of events and new store openings and they read with interest when a sale was mentioned. Some played games and some were successful at soliciting and securing shoppers’ point of view on product. All this social networking drives home the value of the relationships retailers have and continue to cultivate with their customers. It also emphasizes just how imperative it is for retail executives to embrace social media and climb this learning curve.
Challenges remain, however. Since each retailer’s business is unique, there’s no formula for how to interact with shoppers. Brand building is key, but there are numerous ways to cultivate loyalty. Ultimately, there are a whole lot of folks trying to determine whether there is a bottom line lift to be achieved from this difficult-to-pin down social media phenomenon.
In the October issue of STORES Lori Schafer, executive advisor to the SAS Global Retail Practice, asks retailers, “Are You Being Anti Social?” She shares her experiences helping retailers get acquainted with social networking, including the emerging role business analysis will play in managing this burgeoning channel. It’s a fascinating read.
One Comment
At Wirestone, we are helping retailers solve for the change in mindset from a print-based marketing program to engaging customers on their terms. Social can be for all types of retailers as long as the objectives of the brand are carried through the social-sphere. Whether a promotional, boutique or luxury retailer your customers are online as Lori Schafer points out. And, they are already talking about your brand and store experience. In fact, a quick ‘listening’ report that shows the volume of activity and conversation surrounding a retailer can be a sobering yet enlightening experience for a current anti-social retailer. Listening is a great first place to start and then engaging consumers through the channels on their terms. Often, social channels become more of a consumer engagement tool augmented by deals/coupons. People love being engaged directly by a brand they love and are often amazed that you reached out them.
It is a new world that is changing fast and as the demise of newspapers continue to come upon us, having your digital strategy worked out will be critical.
Paul Marobella
Managing Director
Wirestone/Chicago