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Brand awareness is promoted in networks



Brand awareness is promoted in networks


Online social networks have opened up ways for advertisers and retailers to reach their target audiences with almost no wastage. In addition, according to IDC Retail Insights market researchers, they are now also influencing the purchasing habits of consumers. The preferences and behavior of consumers are being transformed in social networks, which is why Web 2.0 technologies are playing an increasingly important role in online retail.

“The keyword is relationship management: getting in contact with the customer and starting a conversation,” emphasizes marketing expert Natascha Hoffner. According to IDC, retailers are not only allowed to build up a presence on the social web to lure consumers into their own online shops. Rather, they could collect valuable information without being intrusive to existing and new customers. Retailers would therefore have to learn to listen to active consumers in social communities.

Brand awareness and image are increasingly formed in social media. Networks, blogs, price comparison sites, and the like could all be used by retailers of all segments, shapes and sizes “to attract and influence customers,” monitor demand, improve brand reputation, and provide customer support.

With Facebook and Twitter, for example, companies could significantly increase the likelihood of gaining fans or followers of their brands as customers, as market researcher Chadwick Martin Bailey and iModerate Research Technologies show. In contrast to other consumers, more than half of followers recommend or buy a brand after they have become fans or followers. Social networks are important customer touchpoints that have a direct impact on sales and positive word of mouth. Given that the ten largest networks now have more than 1.3 billion users, their potential is enormous. pte

www.idc-ri.com