Improved feedback links in well with getting better customer and product awareness, this is because the customers are the people that are giving the feedback, so by listening to the feedback, the company will gain a better understanding of the consumers that are buying from them.
Improved feedback is achieved online by answering customers questions and solving their problems, the reason why this is an improvement from before social media was included was because on social media, quick responses are given. Customers tend to have high expectations on social media as to when they will get a response from a company, 12% hope to hear back within 30 minuets, 9% in 5 and 33% are ok with hearing back in a few days.
Another major statistic which benefits companies is that customers given a speedy support online are 6 times more likely to be highly engaged from then on with the companies online profile.
37% of customers say that they are satisfied when they are offered a refund for something that has gone wrong with a company. Whereas 74% is happy with compensation and an apology given.
The reason why businesses are able to use social media in order to improve their customer and product awareness is because within a day, 500 million tweets are sent out, 4.5 billion likes on Facebook are made and 95 million photos and videos are uploaded on Instagram. This all adds up to a large amount of information on the consumers that the business are wishing to know more about.