Marketing and selling in favourable economic conditions:

Social media and retail stores

Prasanna PERERA

Marketing and Management Consultant, Chartered Marketeer, CIM U.K.

Prasanna Perera

Facebook, MySpace, Twitter... The list goes on. Social media is growing and here to stay. Even in Sri Lanka, social media, specially Facebook is very popular with over 1.2 million active accounts!! What retailers need to realize is that social media are no longer just something teenagers and the under 25 segment are using, but they are now being widely used by adults and senior citizens as well.

Global statistics

Recent research in the US shows that Facebook now has over 850 million active users, which makes Facebook the third largest country in the world in terms of population! Perhaps more importantly for retailers, research has revealed that 33 percent of the total Facebook fans are females with children, the prime audience for most retailers.

Another important statistic from social media research is that more than 40 percent of consumers aged 35 or older are using social media. In fact, baby boomers (Those born in the 70's) are the fastest growing user group, at present.

Why should retailers use social media?

The set-up is minimal and the cost is free. Hence, there is no good reason not to use social media. Social media is also a way to directly interact with customers and to reach and attract potential customers.

This enables retailers to build on-line relationships, which is important in brand building.

Retailers need to understand that fans on social media sites, spread the word about your site to their friends.

In fact, Facebook estimates that each of the fans would spread messages to at least three more of their friends.

This is a great way for retailers to increase business and the number of fans on social media networks. Social media offers opportunities to communicate, connect and entertain customers and fans, at no cost.

This is another great reason for retailers to use social media. Every retail store has a personality. Social media is a good way to create and reinforce retail store personality, thereby differentiating from competitors.

Tips for retailers in using social media

Don't make all postings business or advertising. Think like a customer. Speak to them in terms of their interests, to make the conversation interesting and relevant.

When retailers promote products, social media fans are very receptive to unique products and services, that they can talk about to their friends. Further, products on sale must be communicated and these will be hot on social media. Retailers should obtain advice from their younger employees about how to effectively utilize social media for advertising and engagement purposes. Some retailers are even handing over "management" of their Facebook pages to these younger employees, who can empathize with the fans of the retailer.

Pictures say a thousand words. This is indeed very true on social media. Hence, retailers should display many pictures of their stores and products. Put some on your home page and others in the photos section.

Change these pictures from time to time, so that there is variety for repeat visitors.

Using some humour is a good way to engage fans. This will make retailers talk to their customers and not 'advertise' to them. Humour should be blended with information that is relevant, upto date and educative.

Engage customers in areas of their interest, such as sports, hobbies and politics. Encourage customers to post their personal experiences such as coping with a weather related problem or a jungle trek or a beach holiday.

Promote your Facebook, Twitter and other social media activities and addresses, with the other advertising that is carried out. (Both offline and online). Be sure to post your web address on social media listings.