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According to the Pew Research Center, more than half of adults use more than one social network, therefore, retailers are also using social media channels. Yesmail, tracking the social media habits of 50 top retail brands, found that more than 90 percent of brands are using two or more social networks.
Social media is set to see an infusion of ad cash. According to eMarketer's latest forecast, in 2015 global advertisers will spend $23.68 billion on paid media on social networks, up 33.5 percent year-over-year. Further, by 2017, social network ad spending will reach $35.98 billion, representing 16.0 percent of all digital advertising spending worldwide.
While the jury is still out on whether social media strategies are beneficial to retailers, many are using social media to great success, particularly those that use input from customers communicated through social media to drive improvements. The key to success, however, is the data.
Only 5 percent of U.S. shoppers have ever made a purchase on a social media site, but 20 percent said they would consider using social media to make purchases, according to a DigitasLBi study conducted online by Harris Poll.
Spring announced the launch of a new app that introduces the social element of shopping to the mobile space. The mobile-only marketplace will allow users to shop directly from a community of brands, reported Women's Wear Daily.
Target confirmed it failed to act on early warnings of malicious activity during its massive data breach."With the benefit of hindsight, we are investigating whether if different judgments had been made the outcome may have been different," company spokeswoman Molly Snyder said in a statement.
While spending on social media continues to climb all around the world, North American marketers are putting a lot of faith—and more dollars than any other region—into the channel, according to data from eMarketer.
Negative online reviews have been a problem for retailers since they began selling items online. Bad ratings on third-party review sites such as Yelp and TripAdvisor along with Amazon and shopping sites can literally cost businesses thousands or millions of dollars in lost sales. In fact, 80 percent of online shoppers have changed a purchase decision based on a bad online review. That amounts to an alarming amount in lost sales and damaged reputations. Some retailers and hotels have taken matters into their own hands, suing the review sites over lost sales and damaged reputations. In one case, an owner whose hotel was listed at the top of TripAdvisor’s “Dirtiest Hotels in the U.S.”, sued TripAdvisor for $10 million.
Bing has updated its Webmaster Tools offering with the addition of Connected Pages, a feature that allows account holders to access the same kind of analytics they get for their websites for official social pages.