Your Reviews on Social Media can now Reward You Essay Example
Your Reviews on Social Media can now Reward You Essay Example

Your Reviews on Social Media can now Reward You Essay Example

Available Only on StudyHippo
Topics:
  • Pages: 3 (561 words)
  • Published: August 11, 2018
  • Type: Essay
View Entire Sample
Text preview

Many people, including industry professionals, hold the view that conventional brick-and-mortar stores are no longer feasible in today's economy. This is because contemporary customers, especially millennials and busy executives, generally favor online shopping.

While brick and mortar retail in the US has been in decline, there have been instances of a partial reversal. In Spring 2016, Kanye West and Justin Bieber's pop-up shops sold out within hours in SoHo New York due to their social media presence generating interest for their merchandise. This demonstrates that certain mechanisms are still effective in driving store traffic, creating demand and boosting sales despite the current state of traditional retail. However, major retailers such as Macy's, JCPenney and Sears are facing challenges with reduced physical store visits as consumers opt for online shopping and cost-saving measures. Despite t

...

hese challenges, statistics from 2016 show that Americans continue to spend more money on retail than ever before.

The S. Bureau of Economic Analysis (BEA) credits the social aspect for the popularity of pop-up shops, which heavily depend on promotion and fan attraction through social media to increase sales. In order for businesses to remain current with trends in today's society, having social currency is essential. As someone who enjoys shared experiences such as Tacos and Baseball, these are my favorite trends.

The experience of sharing moments with friends on social media is even more powerful. It's like saying "look at what I just experienced" and surely, many are envious. According to comScore, three-quarters of mobile users prefer smartphones and more than half of shoppers have their phones in hand while shopping at retail. This trend is consistent among Millenials and Moms, who are ke

View entire sample
Join StudyHippo to see entire essay

consumer segments influenced by social networks, word of mouth, and promotions.

Historically, advertisement has aimed to produce similar social impact by presenting impressive and uplifting content developed by Madison Avenue, targeting desired consumers, and inevitably converting a portion into clientele through repeated exposure. While there is debate regarding which channel is the supreme advertising method, it is widely accepted that word of mouth wields the greatest influence.

Organic social media holds immense power in spreading a brand message quickly, and even provides opportunities to incentivize and reward users for sharing content. Sharesi.es, an app similar to selfies, enables users to promote brands while sharing pictures and videos and receiving rewards. Users who share pre-vetted deals relevant to their interests are more likely to try/buy from retailers. Sharing experiences with friends repeatedly is a beautiful and powerful advantage that must be harnessed to inspire user engagement.

Through brand sponsorships, we can enhance our retail experience by receiving free or discounted products. Rather than just leaving a review, sharing content on social media can lead to rewards. This exchange provides greater access to brands and retailers' promotions and products, enabling us to create new experiences. Our passion for exploring and sharing new experiences – whether it's running, attending music festivals, watching movies, shopping at the mall or spending time with friends – drives us forward.

Using social media to engage with customers can be beneficial for retailers as it promotes in-store social interactions and enables direct communication on social platforms. Offering rewards can also incentivize visits and purchases without interrupting the overall social experience. Retailers can achieve this by utilizing apps that provide a platform for interaction rather than intrusive advertisements.

Get an explanation on any task
Get unstuck with the help of our AI assistant in seconds
New