Benefits of Social Media

According to a new study by Chadwick Martin Bailey and iModerate Research Technologies people who are Facebook fans and Twitter followers of a particular brand are far more likely to purchase the brand’s products or recommend them to a friend.

Studies found that 60% of Facebook fans and 79% of Twitter followers are more likely to recommend a product by a particular brand since becoming a fan or follower on the aforementioned social networking websites.

In addition, 51% of Facebook fans and 67% of Twitter followers also said that they are more willing to buy products from a brand that they are fans of/follow online.

"While social media is not the silver bullet that some pundits claim it to be, it is an extremely important and relatively low cost touch point that has a direct impact on sales and positive word of mouth," said Josh Mendelsohn a vice president at Chadwick Martin Bailey.

"Companies not actively engaging are missing a huge opportunity and are saying something to consumers - intentionally or unintentionally- about how willing they are to engage on consumers' terms."

The study also found that people view brands not engaging in social media as out of touch.

"It shows they are not really with it or in tune with the new ways to communicate with customers."

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