Does responding to Social Media Boosts a Company’s Bottom Line?

Business owners are increasingly interested in the effect of social media on their businesses since this is growing with the years. No matter if they’re concerned or excited, they know social media is changing the game now and in the future. The hospitality industry has already experienced the impact social media can have on their business and they know this can result in a positive either negative result (Medallia, n.d.). Before the upcoming trend of review sites such as TripAdvisor, business unit managers were much more in control of their brand image and reputation. Nowadays a growing number of people is using one of these reviewing in order to make a decision where to go or what to do.

Social media is not just a simple marketing tool, nowadays it is one of the biggest tools with a lot of impact as well. Social media has had an immense impact in pretty much all aspects of our lives. It has changed the way we behave and  it has as well an effect on how people chose to travel. Hotels and other businesses within the travel industry are finally beginning to understand that ways of a focused approach to Social Media can help create a strong brand and boosts their company’s bottom line. It helps drive sales and it is creating and maintaining better relationships with customers as well as to provide the perfect tool to interact directly and faster with them. Medallia study finds that hotels that respond to social media reviews grow occupancy rates faster than social media laggards  As Peelen & Beltman describe in their book, the web also offers a place for marketers where they can seek cooperation with customers and it offers plenty of opportunities to co-create.

The stronger the emotional connection a customer develops with your hotel the more chances there are of that customer coming back and becomes a loyal customer. Customer retention and co-creation is one of the main factors that will guarantee its success (Peelen & Beltman, 2013)

Imagine the great satisfaction potential and loyal customers can get from receiving an personal and fast reply on their comment or question on a reviewing site or on one of their social media channels. It will show not only that you care about their opinions and inquiries, but it will also shows that your company is efficient, fast and acts like a well-oiled machine and in case of hotels, this means a guarantee of bookings and a growth of loyal customers (webcoursesbankok.com, 2016).

So yes, responding to social media boosts a company’s bottom line! And maybe social media will be the future bottom line… who knows?

Bibliography

Peelen, E., & Beltman, R. (2013). Customer Relationship Management.Pearson.

Responding to Social Media Boosts a Company’s Bottom Line – Medallia. (n.d.). Retrieved October 16, 2016, from http://www.medallia.com/press-release/responding-social-media-boosts-companys-bottom-line-new-research-finds/

(2016). 7 Ways Hotels Can Benefit From Social Networks – Web Courses Bangkok. Retrieved October 10, 2016, fromhttp://www.webcoursesbangkok.com/blog/7-ways-hotels-can-benefit-from-social-networks/

 

 

 

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