According to Pew Research, “On a total population basis (accounting for Americans who do not use the internet at all), that means that 68% of all U.S. adults are Facebook users, while 28% use Instagram, 26% use Pinterest, 25% use LinkedIn and 21% use Twitter.”
With 2016 coming to a close, businesses have to start preparing to implement new strategies into their marketing departments. We have learned that the customer now has more power than the business in the purchasing decision. The internet and social media have brought full transparency to the relationship between businesses and their customers. With more options than ever before, it will be important for businesses to stand out. Not only do businesses have to present a good product, but also deliver excellent customer satisfaction. In 2016, we learned that the customer no longer makes their decision on the best product. Other factors now go into the purchasing decision because building mutually beneficial relationships is now the key to keeping your customers coming back.
When you have a small business, every customer is important. The larger your customer base is, the easier it will be to maintain a steady flow of income. Businesses that stress customer loyalty are more stable than others because they do not have to put as much effort in recruiting new customers. Instead of paying for advertisements and traditional public relations, they allocate those efforts to meet their loyal customer’s needs. How do they track this?
Businesses are beginning to catch up the transition of establishing an online presence and are understanding why it is so important to do so. According to The Drum, “In 2015 Facebook influenced 52 per cent of consumers’ online and offline purchases, up from 36 per cent in 2014.”