5 Drivers to Retail Social Media Success
In the final stretch of last year's holiday season, big-name retailers were battling for the attention of the social shopper. According to Shareablee's Social Scorecard, social engagement for the retail industry increased on average 96 percent last year, trending slightly lower than the average 110 percent growth for all U.S. brands. However, not all platforms are created equal when it comes to the social shopper. Facebook declined 25 percent across all retail brands, while Twitter and Instagram spiked 291 percent and 190 percent, respectively.
Macy's took the top spot (see the chart below), unseating Nordstrom and Kohl's, which led the "big box" and department store category in the run up to Black Friday. Macy's is capturing 10 percent share of voice in its category with 30 percent of its total engagement in 2014 taking place between November and December.
Cabela's and HomeGoods make an entry in the top 10 this year, with significant increases in engagement vs. 2013, at 66 percent and 109 percent, respectively.
So, what are these social retailers doing differently? Here are five key drivers to social success used by the top 10 retail brands this past holiday season:
1. Invest in an "always on" strategy. Many large retail brands showed significant declines in posting on Facebook last year, including during the holidays. Brands on the 2013 top 10, including Wal-Mart, T.J. Maxx and Best Buy, posted 60 percent, 48 percent, and 43 percent less, respectively, on Facebook compared to the same period in 2013. Although the temptation might be to post fewer "big" posts, this strategy goes against the benefits that brands (e.g., Macy's, Amazon.com, HomeGoods) are reaping with an "always on" strategy across social media. As a result, Wal-Mart declined 86 percent in engagement last holiday season, and T.J. Maxx lost 25 percent of total actions (post-level likes, shares and comments).