Brand engagement and financial performance
Charlene Li for Altimeter Group has recently released an interesting piece of research. Deep brand engagement correlates with financial performance. Her report is stating that the companies that are the most engaged on social media have a distinct financial advantage. The most engaged companies had a superior financial result.
To quote Charlene “Social media engagement and financial success work together to perpetuate a healthy business cycle ; a customer oriented mindset stemming from deep social interaction allows a company to identify and meet customer needs in the marketplace, generating superior profits. The financial succes of the company, in turn, allows further investment in engagement to build even better customer knowledge, thereby creating even more profits – and the cycle continues”.
Whilst Charlene is not saying that there is a proven cause and effect relationship just a correlation, it would seem that the key point is that the companies have a customer oriented mindset. With this mindset you will always be looking for ways to engage more with your customers whether online or offline. The other point is deep engagement. It is not a superficial exercise to collect the most followers but rather having a deep engagement.
Remember a customer oriented business leads to greater financial rewards to everybody involved.
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