Social Media Channels Carrying Relevant Business Information
Retail executives rated the importance of social media channels for sharing/receiving relevant business information on a scale of 1 to 5, with 1 being "not important" and 5 being "critical." The survey shows that 59% of respondents ranked LinkedIn as an important tool (giving it a rating of 3 or higher) for sharing relevant business data with their professional network. Additionally, 42.2% of respondents said Facebook was useful for sharing business information, while 22.2% identified Twitter.
When it came to receiving business information from outside of a professional network, LinkedIn also led the rankings, with 53.7% of respondents rating LinkedIn at 3 or higher. In this category, Facebook achieved a 34.7% rate and Twitter received 18.9%.
Blogs also showed strong results: 34.8% of respondents share relevant business information through blogs, while 41% receive relevant business information through blogs.
Facebook, Twitter Lead Retailers' Social Media Choices
Retailers are placing a heavy emphasis on Facebook as a tool for their companies' social media efforts. In fact, 85.9% of respondents said they have an official Facebook page for their company, and 50.7% have an official Twitter account. Retailers clearly are focusing on interacting with consumers through their corporate social media efforts, and Facebook and Twitter are two of the most popular tools for consumers today. While some large retailers such as Target have developed strong presences on YouTube, only 26.8% of respondents said that their company has an official YouTube channel.
Measuring the ROI from Social Media