Witty souls like to constantly repeat that alleged truism: "There are three types of lies. Lies, damned lies and statistics." (Possibly said by Sir Charles Wentworth Dilke, not Benjamin Disraeli as commonly espoused). However, there are occasions when statistics cannot be ignored and those looking to increase their online business through use of social media would be wise to use statistics when forming a plan.
Don't Hide From Angry Customers
For example, it is basic common sense to try and appease a customer who has had a bad experience with your company. The importance of responding to someone who gave your business a bad online review cannot be understated. Simply sweeping it under the carpet is a terrible idea. An extensive study carried out known as the 'Retail Consumer Report' in 2010 shows this.
Thankfully, it seems that more companies are starting to grasp the importance of good online consumer relations. According to the Report, almost 70% of businesses who were given a poor review by a customer took action and contacted the person. The results of these actions were astounding. Of the people who were contacted by the company:
- 34% erased their poor review
- 33% did a 180 degree turn a wrote a great review
- 18% exacerbated this volte-face and became a loyal customer!
Surprising Your Customers
Do you honestly think this 85% positive response would happen if you ignored them? Of course not and the Report also showed this. Almost one third of people ignored by a company after writing a bad review were angered even more. Over 60% of these people stated that they would have been 'stunned' if they had been contacted!
So there you have it. Customers not only expect you to ignore them after they have had a bad experience with your company, they would be amazed if you hadn't. This certainly explains the overwhelmingly good response experienced by companies that had the courage and foresight to contact their customers.
You see, a customer likes being valued and replying to a dissatisfied person shows them that you genuinely care about their experience and are eager to improve it. Reasonable people will applaud the efforts of a company that admits they got it wrong and will respond positively. Another advantage, of course, is that you may begin to see hidden problems thus improving your business overall.
Getting What You Pay For
One thing that may surprise you is that customers are not interested in 'cheap', they want 'value for money'. An incredible 85% of customers in the Report stated that paying a few dollars over normal price for an item was no problem if they had a great experience. This means you should not be trying to undercut your rivals in terms of price, you should be giving your customers the best possible treatment. Having a easily navigable website is part of this process with almost 40% of customers looking to a company website for more information or support when shopping online.
One final point, the Report also showed that almost 70% of Americans between 8-24 spend time on a social networking site each day. This represents a potential market of millions. If you ever needed a reason to concentrate on Facebook and Twitter when it comes to your marketing drive, it is there in black and white!