![\"\"](\"http:\/\/africapublic.com\/wp-content\/uploads\/2012\/12\/share2.jpg\")
<\/h1>\n<\/h1>\nFollowing another discussion during the class on how important it is to be responsive to your customers via social media, I came across this quite interesting article<\/a>.<\/p>\n It is a well-known fact that nowadays brands rely heavily on social media and particularly reviews.Those\u00a0brands that respond to consumer reviews tend to have higher brand loyalty. Interestingly, shoppers who saw a brand respond to a review in which the product owner misused or misunderstood a product were 186% more likely to purchase than those who didn’t’ see the response!!!I Consumers who saw a brand respond to a negative review by offering a product refund, upgrade, or exchange were 92% more likely to purchase than consumers who didn’t see the response!! Seventy-one percent of consumers who saw a brand respond to a review changed their perception of that brand, cites the study. That brings us again to the disaster<\/a> that United Airlines faced simply because they did not respond and did not admit their mistake at the very beginning.<\/p>\n So what does a brand’s response to a negative online review mean to its customers? According to the research study, 41% of consumers say it makes the brand seem like it really cares about its customers . Of course, brands should also not be too social; otherwise the consumers will think that once they start complaining and yelling that will result in refunds, free products etc<\/p>\n This sharing of ideas and services is also causing so-called collaborative consumption or, The Collaborative Economy. “This is embodied in the peer-to-peer lending economy in which consumers connect via social, mobile, and online to share their possessions, such as a car or an apartment.”<\/p>\n So in the end, it is always up to you what you make of your social media. However, one should never underestimate its power nowadays.<\/p>\n","protected":false},"excerpt":{"rendered":" Following another discussion during the class on how important it is to be responsive to your customers via social media, I came across this quite interesting article. It is a well-known fact that nowadays brands rely heavily on social media … Continue reading