Social media users are 83% more likely to be loyal customers, retailer says
For a new marketing medium, social media isn`t doing too bad at Lion Brand Yarn Co.: 20% of shoppers coming to the e-commerce site from one of the retailer`s social presences, including those on Ravelry and Flickr as well as its own blog, buy merchandise. What`s more, Lion Brand Yarn finds social media users are 83% more likely to be very loyal to the brand compared with those shoppers who don`t use social media.
"We didn`t go in with a big P&L—blogs, podcasts and social networks do not involve big out-of-pocket costs, and they just made sense for us because we`re used to communicating with our customers," said Rabinowitz, who spoke at IRCE in a session titled "Social Media: If Not Now, When?" "Through social media we can talk with people online directly, we can convey we are a small, family-owned business, and we can help them understand who we are as individuals within a company, which is important because people like buying from people, not corporations. With social venues you can personalize your company."