In the next 17 months, it expects 10% of its B2B customers will be transacting on the web, an executive says.
Retailers admit they don’t know how social marketing will pay off, but they don’t want to be left out.
Although 79% of retailers surveyed say they are still not sure how to gauge the impact of social media or the best way to use it, 72% say they have no choice but to get involved because of consumers' heavy participation in social networks, research and advisory firm Retail Systems Research LLC finds in a new study, "Social Media's Impact on Customer Engagement." The study, based on a survey of 111 retail professionals from February to May 2011, also notes that 75% of retailers say participating in social media helps them get a more complete picture of their customers' retail experience. Among the most valuable aspects of social media cited by respondents are consumer product recommendations and integration with e-commerce.