Social media is more than a “nice” or cheap way to get another impression. Serious marketers understand social media needs to be an integral part of their marketing program.
The widespread reach (more than 85% of people engage in at least one social platform) and the amount of time spent daily (+3 hours on average) make social media a serious content and advertising vehicle. Other reasons:
Harvard Business Review in a compilation of research determined the number one indicator of long-term brand profitability was …. the likelihood of a company’s customers to recommend their product or service to others. Referral.
There are lots of studies related to the value of referral, but Harvard Business Review did a nice compilation of research a few years back. They concluded that the number one indicator of long-term brand profitability is the likelihood of a company’s customers to recommend them to their friends and family. The higher the percentage of “zealotry” customers, the higher the company was in the black. More referral = more profits.