I read an interesting article yesterday about how much an engaged, social customer is worth in plain old dollars and cents. In a study of over 400 customers of a wine company over a three year period, here are their findings:
- Engaged social media customers spent 5.6% more than other, non-engaged customers
- Those customers who posted regular content online (the fabled 1% of all customers), bought wine in larger volumes than anyone else
- These customers also tended to go for the more expensive products, and were more loyal to the company. This goes against the impression that social is merely home to those looking for bargains or items on sale.
- Engaged social media customers began to visit the wine store more often and spend more than a similar demographic after they started their social media presence in 2009
So what did we learn here?
Know your customers, engage with them, and tailor your social media outreach to their needs, wants, and lifestyles.