In a recent report by Bazaarvoice, approximately 90% of CMO’s reported that social data affected at least some of their business decisions. The report went on to state that CMO’s agree that social data reflects business and consumer trends, and that it can be effective in indicating the following:
IMPACT OF SOCIAL IN MULTIFAMILY
The most striking aspect of the report however may be that the vast majority of CMO’s report that social improves brand awareness, loyalty, and sales.
For your community this means that there is a virtual gold-mine of data out there for the taking. Social can no longer be viewed simply as a means of attracting an ever increasing number of likes.
At Modern Message, we believe that within multifamily we will start to see an evolution in social away from the obvious, towards gaining a better understanding of who your residents are, and better tailoring your messaging to appeal to your target audience.
About the study: Based on a survey of 112 members of The CMO Club, composed entirely of CMOs, fielded online May 18 to June 18, 2012.
(hat tip: Marketing Profs)