what’s the story with social media? Fashion, beauty, retail businesses speak out on going digital.
9threads social media survey results
9threads.com
DECEMBER 2010
photography by cleo sullivan
WHITEPAPER OVERVIEW Situation Overview
survey Overview
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Beyond vertical growth, the social media landscape is also quickly expanding. Market-specific social media platforms, countless blogs, website forums, video and file sharing outlets offer limitless choices to share and be heard. It’s no wonder that some businesses find it challenging and time consuming to keep audiences engaged in this rapidly changing medium.
The survey, completed online, included 14 questions, comprised of a mix of multiple choice and check box options. Questions were designed to gain insight into the breadth and depth of current social media initiatives with emphasis on online marketing budgets, outlets used, content, audience engagement and management.
oday’s social media climate can be summarized in one simple phrase: it’s THE place for businesses to see and be seen. There’s no arguing the facts. At the time of this publication, Facebook has over 500 million active users with daily growth across all demographics; 50% of them log in daily to connect with friends, the news and their favorite brands. Twitter boasts 190 million registered users with about 370,000 new users each day.
Social media is not a fad. It’s here to stay. People can access Facebook, Twitter, blogs and other outlets on computers, iPods, mobile phones, iPads and net books. Social media is everywhere. Is your company prepared to keep up?
uring September 2010, 9Threads conducted a market survey to discover how business in the fashion, beauty and retail (FBR) industry use social media. Those within the 9Threads publications’ databases were invited to participate. Of 347 respondents from the Footwear Plus database, the majority of respondents were retailers, with a smattering of wholesalers and manufacturers. The Earnshaw’s database turned out 371 respondents, including a close mix of retailers and manufacturers with few wholesalers.
9THREADS.COM
* 9THREADS SOCIAL MEDIA SURVEY RESULTS
* DECEMBER 2010
Executive Summary
Survey similarities:
Survey differences:
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* Majority of participants allocate less
* The two audiences differed in annual
his social media survey provided compelling insights into how FBR companies are currently utilizing social media. On average, 70% of those surveyed engage in some form of social media. All companies surveyed recognized the need for online marketing, but the data shows that they have been slow to move dollars to digital options. This may be because the surest path to achieving return on investment in the digital world is littered with obstacles and detours. Many companies, especially small- and midsize businesses, lack time, resources or expertise required to consistently create content and deploy strategic, successful online initiatives.
Does your business fall into this category? Clearly, you’re not alone. Though the two survey audiences were slightly different with varying numbers of retailers, wholesalers and manufacturers, common themes emerged in the data.
than 10% of their marketing budgets to online efforts.
* Majority of participants only plan to
increase their budget for online advertising by less than 10%, if at all. However, the majority of all participants want to increase their online presence in the future.
* Both audiences admit they lack
strategic planning and only some of the content is planned in advance. About 30% of both audiences improvise or create posts with little or no preparation.
* Facebook is overwhelmingly the most
used social media platform for both audiences, but majority post content less than 4 times a month.
* About 30% of both audiences do not currently use social media to promote their business.
revenue. Earnshaw’s participants included smaller companies with gross revenue of up to $500,000. Most of the Footwear Plus participants grossed $1 million to $50 million a year.
* Footwear Plus participants utilize Twitter more than Earnshaw’s participants. On average, they post 1 to 2 times a week. However, they get limited retweets.
* About 57% of Footwear Plus participants
have a dedicated staff for social media initiatives, while 61% of Earnshaw’s participants do not have a dedicated staff. This fact is likely directly related to the size of the company (i.e. the smaller the company, the less likely the chance of hiring a dedicated resource for social media).
SURVEY RESULTS online marketing
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oday’s fashion, beauty and retail marketers are recognizing the value of online marketing, but are moving much slower to the game than many other industries. This is ironic, considering those in the FBR category are often the most likely to embrace change, especially season to season.
Shifting marketing dollars to online initiatives, whether social, mobile or digital ad campaigns, allows businesses to target marketing messages to specific audiences and measure, through highly intensive data analysis, the effectiveness of the efforts. Marketers can track patterns of behavior that uncover valuable insight about where their buyers are coming from and what specific factors compel purchase. With the right strategy, online marketing also offers the opportunity to track what consumers think and what else interests them. Incorporating email marketing into a campaign to drive consumers to social media can be easily tracked from clicks and opens. From this audience interaction, it can allow the marketer to evaluate message effectiveness and optimize both content and placement as necessary.
In the social media realm, marketers have come to find that the return is practically limitless. Creating lasting connections with the audiences and engaging them in conversations can be accomplished with minimal cost. It’s important to note, however, that these types of initiatives require constant attention and long-term commitment. Marketers must transition their approach from a short-term campaign mentality to a slow, steady content distribution strategy that has audiences clamoring for more. More and more businesses are joining forces with content experts and digital marketing firms with the industry expertise to develop breakthrough messaging and the strategic savvy to know where and how to deploy it.
10-25% (21%) 25-50% (5%) 50+ (3%)
earnshaw’s 0-10% (62%) 10-25% (24%) 25-50% (6%) 50-75% (5%) 75%+ (3%)
By how much do you plan to increase your online advertising budget in 2011? (Includes banner ads, social media, etc.)
FOOTWEAR PLUS 0-10% (44%) 10-25% (13%) 25-50% (6%) 50+ (3%) Not at All (33%)
earnshaw’s 0-10% (39%) 10-25% (21%) 25-50% (6%) 50+ (2%) Not at All (32%)
9THREADS.COM
* 9THREADS SOCIAL MEDIA SURVEY RESULTS
0-10% (70%)
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FOOTWEAR PLUS
DECEMBER 2010
Approximately what percentage of your marketing budget do you allocate to online advertising? (Includes banner ads, social media, etc.)
importance of planning
Do you currently use social media to promote your business?
The majority of the survey participants use social media for business, yet only half have a strategic plan. As with any marketing initiative, a plan is essential to streamline execution and maximize investment. Without a strategic social media plan, marketers risk posting too much or not enough. Often the posts don’t include the right blend of interesting education and sales promotion. If audiences are turned off by communication, they are likely to ignore any future online marketing attempts. Ideally, the goal is to engage and inform audiences without overtly pushing the sale. By planning ahead and thinking strategically, marketers can employ all the right social media platforms, using the content on each to weave a story that inspires audiences to share with others and, ultimately, buy the products.
FOOTWEAR PLUS
earnshaw’s
Yes (64%)
Yes (73%)
No (36%)
No (27%)
Do you have a strategic plan in place for your social media efforts? FOOTWEAR PLUS Yes, some of our content is planned in advance. (54%) No, we just shoot from the hip. (28%) Yes, all of our content is planned in advace. (16%) N/A (2%)
Remember, social media is only beneficial to business if it’s properly planned in advance, allowing flexibility for timely, impromptu posts. Planning and strategizing takes time, talent and experience. A skilled content management firm with experience in the FBR industry can help maximize posts and keep audiences engaged without bowling them over with too much information.
earnshaw’s Yes, some of our content is planned in advance. (48%) No, we just shoot from the hip. (39%) Yes, all of our content is planned in advace. (11%) N/A (2%)
Which social media platforms do you currently use? FOOTWEAR PLUS
earnshaw’s Facebook
Facebook Twitter
Twitter LinkedIn
YouTube
Business Blog
YouTube Yelp
Business Blog
Foursquare
Yelp
Blog
Foursquare
Giggle Guide
Other 0
20
Other 40
60
80
100
0
20
40
60
80
100
Images Events Links to pages or articles related to your business Giveaways/contests Video Interactive polls/apps, etc.
Other 0
Social Media Outlets
With over 100 million posts a day, a tactical approach to Twitter is necessary. An experienced content development firm Tweets on behalf of the brand with purpose. Each of the 140 characters is valuable real estate with which to educate or encourage retweeting. Twitter can also be used to further promote parallel messaging on Facebook, increasing frequency and reach among quality audiences. Businesses should look to an experienced social media strategist to determine if Twitter is a must-have platform within a larger social media plan and, if so, how it can most effectively be used.
40
60
80
100
earnshaw’s
It comes as no surprise that Facebook, Twitter, YouTube, LinkedIn, and blogs were the most used platforms by survey participants. Facebook was by far the most popular choice, likely due to user popularity, ease of implementation and its ability to house different forms of media (images, videos, etc.). According to Facebook, there are over 900 million pages, groups, events and community pages for its members to interact with. How can marketers ensure that their posts stand out on news and Twitter feeds? Thoughtful, timely posts with conversation sparking content are essential to capturing audience attention and compelling them to act. Twitter is the most underutilized, but the fastest growing social media platform. It appears that many of the businesses surveyed have a Twitter page but rarely update it. For many companies, Twitter is secondary to Facebook and for good reason: Tweets are limited to 140 characters, providing a challenge to those with a longer story to tell.
20
Images Events Links to pages or articles related to your business Giveaways/contests Video Interactive polls/apps, etc. Sales News Other 0
20
40
60
80
100
DECEMBER 2010
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Coupons
9THREADS SOCIAL MEDIA SURVEY RESULTS
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footwear plus
9THREADS.COM
What type of content do you post on social media platforms?
Content
How often do you post content on Facebook?
The survey shows that participants post a decent mix of text, images, events, links, promotions and video. The ideal content mix is enlightening, entertaining and educational, with a few promotional posts thrown in for good measure. It is best to not push products on the consumers, but instead engage audience in a conversation. Once a relationship is established with content that piques the interest, a natural bond is formed that inherently leads to continued trust and respect for the brand.
FOOTWEAR PLUS 1-2x/week (31%) 3-5x/week (16%) Less than 4x/month (34%) 5-10x/week (13%) N/A (6%)
All content must be carefully developed to reinforce the position of the brand, while still being of value to the audience. If budget doesn’t allow for ten videos, don’t attempt to skimp on production quality; doing so may cheapen the perception of the brand. Instead, produce two high-quality, brand appropriate videos that can be posted across multiple digital platforms to expand reach. Budget-conscious marketers also encourage fans and followers to assist in building a content library by posting their own productrelated images and video. The right content developer can assist with creating high-quality images, video and posts that are appropriate to brand position and voice. If you’re seeking an agency to assist with your social media initiatives, be sure to choose one with both industry and digital marketing expertise.
earnshaw’s 1-2x/week (35%) 3-5x/week (15%) Less than 4x/month (36%) 5-10x/week (11%) N/A (4%)
How often do you post content on Twitter? FOOTWEAR PLUS 1-2x/week (20%)
For instance, 9Threads clients benefit from the trend knowledge we’ve gained through our continued immersion in footwear and fashion. We also staff photographers, videographers and writers who have deep-seated experience in the category. Once the content is readied for distribution, our strategic marketing team steps in to help clients determine where and when to place the content for the greatest return on investment.
Less than 4x/month (18%) 3-5x/week (14%) 5-10x/week (10%) N/A (38%)
earnshaw’s 1-2x/week (26%) Less than 4x/month (17%) 3-5x/week (13%) 5-10x/week (12%) N/A (33%)
How often do fans/followers actively comment on, or retweet, your content? FOOTWEAR PLUS 1-2x/week (26%) 5-10x/week (16%) Less than 4x/month (22%) 3-5x/week (16%) N/A (20%)
earnshaw’s 1-2x/week (24%) 3-5x/week (15%) Less than 4x/month (36%) 5-10x/week (13%) N/A (12%)
9THREADS.COM
* 9THREADS SOCIAL MEDIA SURVEY RESULTS
Social media is “social” by nature and should be viewed as a way to interact with audiences, deepening the connection with the brand. Additionally, every retweet or comment presents an opportunity to attract new fans/followers because the interaction appears on news and Twitter feeds. Engaging the fan/follower base in this way helps businesses spread the word by transforming loyal customers into advocates. This viral activity, in turn, helps grow the following base with no media investment.
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Survey participants who have fans/followers actively retweeting or commenting on their content is mixed between weekly and less than 4 times a month. If a good majority of the posts on Facebook or Twitter do not encourage or intrigue fans/followers to retweet or comment, it’s important to rethink the content. This one-sided conversation approach is no different than making a simple announcement on the company website.
DECEMBER 2010
Engagement
Social Media Management Social media is relatively new for our survey participants. As such, many do not have a staff exclusively dedicated to managing social media. The responsibility typically falls on the shoulders of staff members who already have their hands full with core job duties. While this solution may be necessary for a short time, it doesn’t lend itself to the proper attention required of an effective social media campaign. Still, almost all participants plan to expand the frequency of their posts or use new platforms to their social media campaigns. For those businesses that are already struggling to keep up with their current social media pages, who will be able to be responsible for new efforts? This is especially problematic for social media platforms such as blogs that require lengthy, time-consuming entries.
Do you have dedicated staff in place to update your social media initiatives and respond to comments? FOOTWEAR PLUS
earnshaw’s
Yes (57%)
Yes (39%)
No (43%)
No (61%)
If yes, how many people manage your social media efforts? FOOTWEAR PLUS
earnshaw’s 1-2 (54%) 3-5 (8%)
1-2 (45%)
5-10 (2%)
3-5 (4%)
10+ (1%)
N/A (51%)
N/A (36%)
More and more, FBR businesses see the value of the outsourcing model for the development and management of their social media initiatives. In this way, they not only take added stress of their employees desks, but they also have access to a team of experts that can effectively execute the initiative. An experienced digital agency can offer various levels of social media services, ranging from training and consultation for DIY efforts to all-inclusive content development, posting and monitoring. Be sure to choose the level of service that suits your content needs, your resource limitations and your marketing budget.
Do you have plans to expand your social media presence in the future by posting more frequently or adding more platforms? FOOTWEAR PLUS
earnshaw’s
Yes (69%)
Yes (79%)
No (31%)
No (21%)
If you’re seeking an appropriate social media partner, do your research. Beware of marketing firms with little or no FBR expertise. Choose content developers (writers, photographers and videographers) who are fluent in your business to expedite the learning curve and ensure that social media communications are on-point and on-brand. Be sure to keep in mind that great content goes to waste if it’s not placed correctly. Look for a firm with digital marketing expertise to recommend the content distribution strategies that will achieve the most online impressions for your investment. Only in this way can you ensure that your foray into this emerging field will reach its full potential!
9THREADS.COM
* 9THREADS SOCIAL MEDIA SURVEY RESULTS
For businesses struggling with the same challenges, outsourcing online marketing efforts to an experienced firm is almost always the ideal solution. Smart marketers are beginning to see the value in these arrangements, pulling dollars from more traditional efforts like direct mail or print to help pay for social media post writing and page management. This approach allows the company to have a team of designers, writers and experienced strategic marketers working toward sales goals instead of just one or two staff members.
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Effective social media is a powerful way to educate and engage audiences, promote products, attract new customers and, most importantly, build strong relationships that lead to brand affinity and advocacy. Businesses in the FBR industry understand how important it is to stay on top of emerging trends. Marketing is no different‌and our survey participants agreed. Yet while most see the need for social media, they are not prepared or have the time to effectively execute successful, engaging initiatives.
DECEMBER 2010
Conclusion