Online retailers embrace mobile and social media – but returns are muddy
91% of retailers currently have a mobile strategy in place or in development and that 72% of retailers will increase their spending on social networks this year over last year. BUT, the overall amount of mobile traffic and revenue has “not increased dramatically” and the ROI associated with social is “muddy” – says a recent report from Forrester & Shop.org
On average, retailers see only a small single-digit percent of sales attributed to social media. Close to two-thirds of retailers surveyed also note that the ROI associated with social is unclear and that the primary ROI is around listening.
Listening does not pay the bills, but social media experimentation does not cost a lot – just time.
The report says “retailers feel like there’s potential around social…If they don’t put money into it they can’t learn about it and they have to keep learning. Even if it doesn’t deliver on retention and acquisition, they concede social is great for brand building and customer listening…As for social, I think no one wants to be a late mover, and all the hype around social networks in particular lead people to think that it’s something they need to do.”
Source: Direct Marketing News