The Harris Poll and Sprout Social recently surveyed over 1,000 US consumers and 250 business executives.
Executives predict social media data to guide strategies and business decisions across divisions, according to the report. Various aspects will be affected by social data points, such as sales at 67%, customer support (61%), product (53%), research and development (48%), and human resources (43%).
Further, usage of social media platforms, particularly among the younger generations has grown significantly. Through social media, 43% of consumers discover new brands, recommend brands to their friends and family (33%) and make purchases (36%).
61% of customers expect companies to provide personalised experiences through social media and 78% are more willing to buy after a positive brand experience on social. 72% will increase spends based on positive social media experiences. Further, executives expect their social budget to grow in the next three years.
[3 minute read]