Insights on Social Media in The Hospitality Industry

0

Social media is a platform which is considered as the friend of the user more than the business. If a recommendation is being made by any social media platform the users trust it, because they make relatable recommendations. Facebook has 2.34 billion monthly active users, Instagram is projected to surpass 111 daily active users in 2019, and 326 million people use Twitter every month. Social media is plethora and a trove of users at the same time.

This data-driven trend industry opens up all the possibilities to reach out and make a mark. The predilection of the Millenials towards social media is the perfect opportunity to learn their consumer behavior and predicting the future trend for the hospitality industry. But first, hotels must have a clear understanding of how to communicate with their target segment and expand their business in this competitive environment.

Social media is a platform which is considered as the friend of the user more than the business. If any social media platform is making a recommendation, the users trust it, because they make relatable recommendations. Facebook has 2.34 billion monthly active users, Instagram is projected to surpass 111 daily active users in 2019, and 326 million people use Twitter every month. Social media is plethora and a trove of users at the same time.
This data-driven trend industry opens up all the possibilities to reach out and make a mark. The preference of the Millenials towards social media is the perfect opportunity to learn their consumer behavior and predicting the future trend for the hospitality industry. But first, hotels must have a clear understanding of how to communicate with their target segment and expand their business in this competitive environment.

ROI (Return on investment) is the sum of all social media actions that create value. But there is a debate on the ROI of social media amongst CMO’s (Chief marketing officers) if it’s quantifiable or not. There is a saying, “There are ways things look and there are ways things are.” Almost half of the CMO’s were unable to measure the impact of social media. Nearly 20 percent said they were able to quantify it, and the rest declared they have a qualitative sense of the impact, but they failed to convert it into solid figures. Why is it so strenuous to measure social media ROI?

The key social media challenges that marketers face –

  1. Publishing content – Impressive content writing is a tough and insightful job. Many firms possess limited resources when it comes to creating rich digital content.
  2. Strategy development – Social media is not about just posting content and pictures. To fully capitalize on social media, companies must design engaging advertisement campaigns.
  3. Merging social media with business goals – Many businesses struggle to figure out how social media plays a vital role in the ultimate vision of the company.

Difficulties in measuring social media ROI –

  1. Despite tracking engagement metrics, brands fail to clearly see how much social media posts and shares raise overall revenue.
  2. There are plenty of social media tracking tools available today, but not all platforms will provide adequate data marketers require.
  3. Social media platforms are scattered with fake and duplicate accounts. Activities from such accounts can generate false data this ultimately affecting the accuracy of reports.

A significant percentage of marketers believe that social media is helping their business grow even if they can’t fully quantify its accurate impact. The lucid benefits of integrating social media in marketing are

  1. Increased exposure among the target segment audience.
  2. Social media campaigns and post-drive traffic towards your website and app.
  3. The most salient point while incorporating a social media strategy is that it generates sales leads.
  4. Brand awareness among the followers and potential business partners opens the door for new and exciting opportunities.
  5. The core of any advertisement strategy ultimately is to boost sales. Social media platforms deliver that in spades.

Measurable or not, these platforms have created a marketing base for a relevant audience where the companies and the customers can engage directly.