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You are a small business owner increasing the time you are spending in social media activities but are you seeing results? I think most of you probably are but based on the results in the image to the left, it might appear not. Perhaps people are not using the right measurements or the people who designed this survey were not asking the right questions. Let’s revisit the role that social media plays in the sales funnel.
There are 5 stages to the sell cycle; awareness, knowledge, liking, preference and buy. It would be impossible to walk all buyers through this cycle in one social media marketing campaign. It takes a well thought out strategy and consistent execution in many marketing activities to address all stages effectively and to a positive result. The thing most people misunderstand is that Social Media is not intended to make people hit the ‘buy’ button. It is certainly part of the process but it is intended to help buyers get to know who they are buying from and trust the product/service they are buying. In essence, it helps you address the first three stages of the cycle and smooth the way to stage 4.
Ultimately, people will buy from people they know, like and trust. And Nielsen survey results show that people are more likely to make a purchase from a business that comes as a referral from a trusted circle of friends, family and key influencers (P. 19) which shouldn’t come as a surprise. The question is, where are people getting this information from? For most, the answer comes from personal interactions, online searches (Google, blogs, social bookmark sites, etc.), and conversations in spaces like Facebook and other forums. So, while it might not appear that social media is not giving you ROI, it is very likely contributing to the overall buying decision. The problem is most business owners don’t ask their buyers how they found them and what criteria they used before making their decision.