As we look forward to an extended weekend break to commemorate the Queen’s Diamond Jubilee, it seems apt to consider the possible impact of such a large cultural event on the world of social media and, in particular, how this could represent an opportunity for businesses.
Undoubtedly, social media will be filled with user-generated content relating to the Jubilee – pictures of street parties, tweets from people lining the procession, etc. Can this content be used to inform a company’s social media activity?
Certainly, the feel-good factor resulting from an extended bank holiday weekend and the anticipation of a weekend of celebration means now is an ideal time for marketing or sales activity. With Britons estimated to spend upwards of £800m in celebrating the Jubilee, the opportunity is there for those businesses with a robust social media strategy to track mentions of their products in relation to the Jubilee and engage with individuals to direct some of that spend towards their business. Aligning your brand with an event the consumer has fond feelings towards can have powerful benefits to your business in terms of extended customer loyalty. However, as we were discussing yesterday, with regard to social sales, it is important that your approach is well-considered. One company has already come under high-profile criticism for the way its blog used the Jubilee to stimulate business.
A concern for many businesses will be a loss of revenue from the bank holidays, with regard to additional wages paid and loss of productivity. This is an inescapable fact – whilst some industries will benefit from the Jubilee spending, others will not. To recoup any potential losses, however, once again we posit that the use of social media engagement to stimulate additional business and customer retention is a strategy that should be uppermost in any company’s priorities. The ‘after-glow’ of the Jubilee means customers (potential or established) will be more receptive to correctly-pitched engagement in the days following the event, so planning your social media strategy for next week should be on today’s agenda.
We’ll be back next Wednesday with looking at how organisation spend too much time analysing historical data to drive key strategic decisions, yet fail to make decisions based on combining such historical data with vital real-time data available through social media monitoring and tracking solutions.
We hope that those of you in the UK enjoy your extended weekend break, whatever you do, and if you’d like to share your weekend plans with us, please tweet us @CCADGC.