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Predict Revenue Trends and Increase Customer Spend using Social Media

Predict Revenue Trends and Increase Customer Spend using Social Media

Increase Customer Spend using Social Media

A recent study has found a close correlation between customer’s comments on social media and retail revenue, according to a recent article by Inside Retail.

The study, which monitors social conversations and determines customer satisfaction, uncovers how social media is being used to predict revenue trends.

This is powerful stuff for retailers – but also other customer service industries, such as hospitality. What this means for venues is greater control by monitoring social media to pre-empt issues that may negatively impact turnover in the future.

Another point worth mentioning was the importance of advertising on social media. Retail customers are now able to buy goods that they see in tweets or on Pinterest pages – the benefits being ease of use and time saving.

And it’s not only retailers that can benefit from incorporating social media into their strategy – hospitality venues can too.

Increase Customer Spend using Social Media

Picture this for a moment.

Your hospitality venue is primed with ready-made content to help you connect with your customers. The chefs are serving up tantalising dishes and candid shots from patrons are contributing to creating a digital persona to drive customers through your door. Social media has the power to convey this complete experience visually to your audience.

But social media and its audiences vary greatly, so it’s important to get the right strategy that aligns with your business goals.

“Businesses should also choose their social media platforms carefully based on their target audience, rather than simply joining all of them,” Leonie Hunt, CEO of Hospitality Gurus said.

A popular industry magazine also agrees in increase customer spend using social media

According to Hospitality Magazine, a social media presence is crucial in the hospitality industry, particularly given that Facebook is a popular platform for check-ins and reviews of restaurants and hotels. Restaurants and hotels should take the opportunity to share beautiful and interesting photos of their food and their facilities.

Social media, when harnessed the right way, is a powerful tool. Hospitality Gurus has seamlessly integrated social media into its mobile friendly website creation tool – Hospitality Engine.

Click here to learn more about Social Media and receive our Social Media Success Checklists.

If you’re interested in discussing how to increase customer spend using social media and profit, talk to Hospitality Gurus today on 08 7200 1200 or contact us.

About The Author

Leonie Hunt

Leonie knows that in the marketing world it is not a "one size fits all". She helps small to medium businesses get more customers and ultimately make more money by implementing simple, effective marketing strategies that are tailored to each client’s requirements. She works with solopreneurs, sole proprietors, small business owners, local businesses to help them get online and get it happening – the right way for their business!

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