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Social media websites like Facebook, Twitter and Youtube are changing the way we live and communicate today. It’s also changing how local companies are driving and expanding their businesses Georges-Kevin N'Koudou Jersey , all for a fraction of the cost compared to traditional marketing.
There are two ways that social media can benefit your business: By generating sales, or by lowering costs. A lot of emphasis is placed upon sales generation but a massive factor is how Social Media can lower a business’s costs. This article brought to you by TiYo outlines some examples of using social media for reducing restocking fees and increasing sales via customer reviews and ratings; and how TiYo can help you.
Lowering restocking fees and increasing sales via customer reviews and ratings. This is an extremely effective tactic that makes a customer more likely to buy, and feel better about the product once they are in possession of it. It’s also a move that some companies are a bit reluctant to make as they are not comfortable with the idea of giving customers the ability to submit ‘bad’ ratings to their products or services. This should not be the case, as the ratings and reviews are invaluable to other customers as a research tool, and actually leads to more sales. For example, a vacuum manufacturer sells a handheld vacuum which is an excellent device for whizzing round your home and car Erik Lamela Jersey , but the design is not 100 percent due to an ergonomically challenging onoff switch. The reviews via Social Media channels brought this factor to their attention, allowing them to modify it in future models and in turn increasing sales with a new and improved model. An example of a company that boosted sales and lowered restocking costs via customer ratings and reviews is Petco Bazaarvoice worked with Petco to not only add ratings capabilities to its site, but they also created a ‘Top Rated’ product category and let visitors organise their search results via ratings. What were the results? The Top Rated Products category had a 49% higher conversion rate compared to the same products within their respective site categories. Within the Top Rated Products category, customers spend 63% more compared to all browsers who progressed beyond the homepage. “Sort by Rating” has driven 41% higher sales per unique visit and is now the #1 default sorting technique on . Overall, PETCO products with ratings and reviews have lower return rates (other case studies have shown that PETCO products with Ratings & Reviews have a 20% lower return rate than those without).
Finally, by having a review and ratings section Eric Dier Jersey , good OR bad; places an element of trust from the consumer toward the brand and reviews and ratings have much more grounding than those displayed in traditional marketing material. Social Media has changed the way we live, and shifting the way companies interact and communicate with their customers. “It’s either get on it; or you are going to get left behind!” Would you like to unleash your business, product or service onto the world via Social Media? TiYo is here to help you branch out into the rewarding world that is Social Media, all from one ‘easy to use’ platform…
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