We take pride in our marketing efforts here at Data Age and in turn often get the opportunity to answer our customers' questions about marketing and promotions. Shop owners often want to know how they can go about marketing their business online. We've put together a starter's guide to Social Media Marketing to help you get a leg up when promoting your business online.
(This article originally appeared as "Pawn Connections" in the Fall 2018 issue of National Pawnbrokers magazine)
I remember when Facebook first came to my attention back in 2005. My college classmates were talking about a website where you could “connect” with one another and post messages on each other’s “walls”. Our school had just become eligible to be part of this “social network” and I though hey, why not sign up and see what this is all about. Little did I know that within a decade, this Place for Friends (Facebook’s original tagline) would expand into the realm of marketing and sales, eventually becoming the third most visited website in the world.
If I would have told you ten years ago that Facebook would become the third most visited site in the world and a major player in the world of marketing and eCommerce, you would have looked at me like I had three heads. But that's exactly where we're at in this ever-expanding digital age. More than 2 billion people use Facebook on a daily basis. That's a little more than one fourth of Earth's population. If you don't have a Facebook page for your business, I have to ask; What are you thinking?!
Who can remember keeping the ads in the Sunday paper and using these to value items coming in the door, especially as a price guide for inventory coming out for sale? Ahh, talk about the good ol’ days! Customers would come in and see a TV that looked to be a good deal, haggle a little, and buy it! How times have changed! Now, everything out for sale in your store can be price checked with eBay, Amazon, or any other retail store in a matter of minutes.
Nobody likes to be wrong, but did you know there are psychological reasons behind why we avoid, resist, and deny being wrong? We all want to know that we’ve made the right decision; whether it be personal, professional, political, financial, parental or anything in between. Every day we, humans use our brains to collect and digest all the information we can, gathering social proof before making decisions, whether it be a purchase, casting our ballot, pulling the trigger or passing judgement. However there are habits of the human brain that tend to interfere with pure logic that ultimately influence our behavior. Among the many psychological phenomena that we humans knowingly or unknowingly experience, one big one comes to mind when I think about making, justifying and sticking by our big decisions. Confirmation bias is a natural psychological phenomena to which we are all susceptible.
As we continue to examine the power of the customer in a one-click market and how social media impacts business, the need to have the market validate the value you state you deliver, has become more important than ever before. Social proofing is no longer a phenomena it is a legitimate methodology and one any great company needs to embrace and master. What we now call social proofing, used to be mainly driven by endorsements. The big name athlete getting paid to talk about a product. As we all know the concept does drive people to the product but once the product was consumed no one really had the chance to hear about the end results.