Bain & Company recently put out a great white paper entitled Putting Social Media to Work.  The key finding of which is:

“Customers who engage with companies over social media are more loyal and they spend up to 40 percent more with those companies than other customers.”

Social will continue to evolve, and platforms will come and go, but long term winners in the space will base their approach on 5 key principles:

  1. Link social media efforts to concrete business objectives
  2. Focus and tailor your efforts to engage your key customers
  3. Build a social media organization to deliver results
  4. Monitor and measure the results—then close the loop
  5. Be flexible and adaptive. It’s still early days

Click here to access Bain & Company’s full report.

 

 

 

About Adam

VP of Pharmaceuticals and Healthcare. Adam has over 20 years of market research and healthcare experience.