Opening proceeding for day two on the second stage, the Founder and CEO of Socialbakers Jan Rezab revealed that in general, 70% of all fan questions posted on social media channels are not responded to.
In a talk entitled 'Social Media Numbers,' Rezab felt that this number showed how big an opportunity brands were missing by not responding to these queries. Analysing the response rates for different industries on social media, it turned out that telecoms and airline industries were the best in responding with a 60% and 55% response rate respectively. Other industries didn't do as well; the automobile industry coming under particular criticism as it has a 17% response rate.
In general, Rezab felt that the majority of companies are punching below their weight, saying that while 80%-90% of companies are in social media, only 30% are using it properly, believing that there is hope for brands to improve their response rate and are missing out. Using Vodafone UK as an example, he showed that the company generated £1 million in revenue simply because responding to social media queries is cheaper than the traditional methods of response (phone calls, etc.). The fact that it has a Net Presenter Score (NPS) of 78% only strengthens this position showing that communication via social media is a vital part of their strategy.
As part of the talk, Rezab announced Socialbaker's new feature named Socially Devoted
, highlighting the world's largest brands who are socially active and those who are poor in their response rate. The feature takes into account facts such as fan numbers, answers, response times and the overall response rates (The average response rate is 28.01% and worryingly, the average length of time to respond is 34.65 hours or almost a day and a half).
Overall, Rezab mentions some basic rules that brands should follow when they're using social media. The first is to open yourself up to your audience; that is having an open wall and profile and giving fans an opportunity to post questions or queries. The second is to respond to fan questions and as a benchmark, Rezab recommends that you try to respond to at least 75% of all fan questions posted on your wall and to try and not leave fans waiting for a response. The final point he makes is for brands to make the responses personal and not to use automated responses when answering questions.
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