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INSIGHT SOCIAL MEDIA
THUMBS UP? Social media has become an essential weapon in the marketeer’s arsenal. With the steady growth of online adoption – and its rapid acceleration throughout the pandemic – opportunities to reach out to potential buyers are there for the taking. This month, Paul Farley explores the trade’s perceptions of social media marketing, and how these tools can be harnessed to drive sales for both supplier and stockist …
SOCIAL MEDIA CAN DRIVE BRAND AWARENESS, FOOTFALL AND MARKET INTELLIGENCE, AND ADD SIGNIFICANT VALUE TO A PARTNERSHIP
According to marketing agency Sprout Social, over 3.6 billion people worldwide use social media – and this figure is set to reach 4.41 billion in 2025. Statista found that internet users spend an average of 144 minutes on social media each day – that’s over two hours spent scrolling, reading, watching, commenting and messaging. Nowhere else can brands enjoy such access to consumers. And it’s not just B2C operations making use of these channels. The Content Marketing Institute contends that social media advertising is employed by 83% of B2B marketers, and that it comes second only to search engine marketing in its efficacy. Of course, that effectiveness varies wildly from platform to platform – Facebook might boast the biggest number of active users, but will it enable your business to reach the right people, in the right manner? And is it the most cost-effective route? The furniture industry is rich with inspiring examples of consumer-facing social media channels – brands which have reached out with engaging content, strategic advertising campaigns and definitive paths to purchase conversion. Yet, as is so often the case, there remains some disconnect between the worlds of B2C and B2B selling, which can undermine efforts to establish a clear strategy that benefits both retailer and supplier. In recent years, a growing number
of manufacturers have gone to considerable lengths to establish a credible and successful presence on social media – without necessarily selling directly to consumers. These suppliers recognise that, like any other form of marketing – a showroom, PoS or above-the-line advertising – a strong social media presence can prove hugely beneficial to their stockists, driving brand awareness, footfall and market intelligence, and adding significant value to a partnership. Of course, there’s some distinction between how branded and unbranded offers can operate – but even whitelabel suppliers are finding new ways to support and communicate with their customers via social media, eliciting consumer interest from a position of anonymity. So, should a manufacturer reach out to the end-consumer, or is that the retailer’s job? What can such initiatives achieve? Who suffers if things go wrong? What is the likely ROI, and what risks are involved? Perhaps most importantly, how should a business work with the platforms and services available to it, given the realities of available time and spend? While it does not purport to answer all these questions, this month’s special feature explores some of the views prevalent in the trade around social media – its use, its limitations, how to achieve the best results, and how Covid-19 has affected its application …