But in the case of the latter, the adjustment in budgets cannot leave out an element that has become essential: social networks.
It is no secret to anyone that social networks are one of the most effective channels for brands to connect with their users. What is relevant to mention is how the probability of that engagement with the brand becoming sales has grown. A survey conducted by Sprout Social revealed that in 2018, 57% of consumers were willing to increase their spending on brands with which they feel connected; At the end of the first quarter of this year, said proportion rose to 77%.
In other words, neglecting the time and resources that are allocated to social networks is giving up the possibility of consumers spending more on their preferred brands, all because that connection has been lost through channels such as Instagram, Facebook, Tik Tok or Twitter, to mention the most recognized.
Something even worse is that it would open the door for competitors to win the land that is being ceded, and they are the ones who participate in the conversation that is generated on social networks, and therefore the connection with potential users. . That is, it would be a saving that costs the brand.
But beyond the direct effect on sales that reducing marketing efforts through social networks can cause, as well as the activity in them, it would imply giving up a series of data that is currently vital for the development of the organization.
Currently, companies use the data provided by social networks for almost all aspects of the business that involve their users or potential users. The Sprout Social Index indicates that 65% of companies use this data for sales strategy, 48% for product development, 44% to improve customer service, 40% to obtain insights on competitiveness, to name a few. some aspects.
However, given the budgetary restrictions that organizations face, not only in Mexico but in the world, the role of social networks has to gain relevance and go beyond focusing only on the benefits it can have for the area. of marketing; it should also be a pillar in the drive for each of the branches of the organization.