This week Market Probe International, Inc., a global market research firm, and Twitter, published the result of research in which they sought to understand the ‘value of Twitter followers’ to small and medium sized businesses (SMB’s).
The research was undertaken in May of 2013 with consumers who follow SMB’s on Twitter.
Market Probe commented the “the study illustrates that consumers who follow SMBs feel more engaged with the business and therefore are more likely to purchase from, recommend, retweet from and share positive experiences about the business”.
500 Twitter followers of SMB’s in the US and UK (n=350 US; n=150 UK) took part in the research.
A Summary of the Twitter Research
72% of SMB followers are more likely to make a purchase from an SMB after following the company
82% are more likely to recommend an SMB they follow to friends / family than before they followed it
86% are more likely to visit a SMB if a friend recommends them
85% of SMB followers feel more connected with SMBs after following them
70% retweeted because they liked the content
64% mentioned SMB to share a positive experience
54% @replied to share a positive experience
Why Do People Follow Small and Medium Businesses on Twitter?
73% To get updates on future products
63% To show support for them
61% To interact with them (share ideas, provide Feedback)
What Do People Think of Twitter Promoted Products?
34% of SMB followers interacted with a small business after seeing an ad with their Twitter handle advertised
32% indicated they are more likely to visit an SMB if they saw a promoted tweet for that business which relates to their interest or needs
It is not clear of the demongraphics of the study or how people participated.
I am suprised that there was no mention in the reason that people follow companies was to hear of competitions or special offers. Typically in all other social media follower research that is the primary reason people follow brands on social media.
If you are going to use Twitter for your small and medium business, I recommend that you put in-place protocols including a Twitter policy, staff education and if you are in a regulated industry, ensure that your processes enable you to be compliant including the retaining of records.
You will also find this article of assistance about the importance of social customer service.
Twitter does offer an advertising credit of 50 USD the US if you have not used Twitter Ads previously – you can find the details here and explore if it applies to you.
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