SM Impacts on FR Industry & Strategies for FR to Capitalize SMM Tools
In just a few short years, social media (SM) has revolutionized the way people share information and communicate with each other, which turns the conversations into 140-word limited blips and makes e-mails, seemed outdated. While social media leaving its mark on commerce, fashion retailer (FR) industry no exception to adopt social media marketing (SMM) to positively influence consumers towards a website, company, brand, product, service, or a person.
Social media marketing is a term that describes use of social networks, online communities, blogs, wikis or any other online collaborative media for marketing, sales, ...view middle of the document...
Second, the spreading speed of social media is fast. Every minute, 72 hours of videos are uploaded to YouTube every minute, 2,000,000 searches happen on Google every minute, 278,000 tweets are published. By using social media, fashion retailers could release information online at the first time.
Third, as the social media going to mature gradually, the cost of adopting social media by fashion retailers for marketing is much less than before. It is pretty suitable for some small and medium sized brands, and designers leveraging the power of social media to better establish their brands.
Fourth, social media is a main tool for multi-channel marketing. News research from eDigitalResearch, a leading provider of digital market research, shows that Facebook remains the most popular site for retailers to connect with online users (M2PressWIRE, 2011). It indicates us that social media marketing has more significantly strong presence than other retail sectors. Also, some brands have established their APPs on smart phone. Customers could download the APPs of these brands by entering into the online shop by using some certain social media accounts.
Fifth, social media provides fashion retailers with more opportunity to have interaction with the potential customers. Facebook users have the ability to become a fan of the page by clicking “like” it and the functions of Twitter similarly to Facebook in the sense that once a user “follows” a company (Stephenson, 2009). There are more opportunities for fashion retailers to share the message about themselves with their potential customers online. By customers’ clicking “like” or “follow”, fashion retailers can collect comments from their potential customers, it is a platform for fashion retailers to communicate and exchange information with their Gods---customers, which could help fashion retailers to optimize their products to cater to the taste of customers. Furthermore, some companies plan to differentiate themselves from competitors. Not only do they listen to their customers’ feedback on existing products but they also work with their customer base to co-create new products.
Negative Impacts on Fashion Retailers
First, although many tools are free or low cost, they take a substantial amount of time to learn and apply. Many marketing departments of fashion industry are becoming overloaded or passing off social media to interns because they underestimate that it is time-consuming to learn and implement.
Second, the comment is a double-edged sword in some way. Some social media users may give comments some of which are not objective involved with personal emotions that are negative or even defamatory. Actually, the fact is that bad publicity spreads more quickly than the good one. And the bad comments left more impacts on the fashion retailers compared with good comments.
Third, social media is an enormous stage everybody could join in, with all that talk, it is difficult for fashion retailers to...