Likes and followers set to be more valuable post Covid-19
As consumers around the world spend more time on social media in the Covid-19 era, likes and followers on social media are likely to become increasingly valuable to retailers.
According to a new report by research firm Globaldata, 43.7 per cent of international consumers are spending more time on social media due to the coronavirus pandemic. The firm is now advising brands to capitalise on this activity to promote purchasing and build shopper loyalty in a time of significantly dampened demand for non-essential goods.
“Social media will play an even more important role in marketing post Covid-19, as many retailers are slashing marketing budgets to preserve cash to cope with the crisis, especially those that previously relied on traditional forms of marketing such as television and billboard adverts,” said Globaldata retail analyst Emily Salter. “Social media is a far cheaper method, especially if brands can leverage user-generated content and rely less on sponsored posts and collaborations.”
The firm recommends retailers ensure their social media content is not too heavily skewed towards purchase-focused posts, with a significant number of followers facing financial instability following a global rise in unemployment. That will ensure engagement and boost likes and followers.
“Retailers need to focus on aspects beyond products: elements of their brand identity that resonate with shoppers, the positive actions they have taken during the crisis, and building engagement to foster a sense of community,” said Salter. “These are all elements that shoppers will be able to relate to whether they are in a position to purchase items or not, building brand loyalty and influencing shoppers’ choices in the long term.”