May 08 Consumer Listen to Negative Reviews and Twitter Invests Big in Video | Social You Should Know
A new study shows just how much negative reviews matter, Twitter invests big on video, Facebook tests new features, and our sister company wins a Shorty Award for Small Agency of the Year all in this week’s edition of Social You Should Know.
WHY NEGATIVE REVIEWS MATTER AND WHAT BRANDS SHOULD DO
A new study found that 88% of consumers would avoid a company based on poor social media reviews, and 73.2% of these consumers would leave a negative review to “save other consumers from a similar experience”.
Here’s the silver lining for brands: 70% of participants said that they would consider the business again if their issue was resolved. That begs the question on how brands should resolve these negative experiences. While nearly half stated that they wanted a refund, and over a quarter wanted store credit or gift cards, a whopping 38.5% simply wanted an apology from the brand.
TWITTER INVESTING BIG ON VIDEO, IS IT TOO LATE?
Twitter released some big announcements in regards to their investment in video this past week. The social media giant announced that they will now feature 24/7 streaming channels as well as a partnership with Bloomberg. In addition to this, they will also feature daily and weekly programming with Buzzfeed News, as well as streaming live sporting events and concerts.
FACEBOOK TESTING NEW FEATURES
Facebook recently began testing video cover images for Facebook pages, debuting this test on the Netflix drama Narcos page. We’re honestly a little let down by the creative execution of this test, which makes us think that Facebook may be playing it safe.
Facebook is also testing a new QR code system in efforts to drive offline sales. Some selected users will now have a ‘Rewards’ tab in their Facebook app which will provide them with a personalized QR code. That code can be scanned for users to receive discounts and rewards from participating businesses. This new feature will allow for better measurement of direct traffic driven by Facebook ads.
Also – we wanted to give yet another shout-out to our sister company, Carusele, for recently receiving a 2017 Shorty Award for Small Agency of the Year for their award-winning influencer marketing work with Walgreens, Pepsi, Hallmark and Häagen-Dazs. Click here to read more.