KNOW THE BENEFITS OF HASHTAGS
It was back in 2007 that the concept of the hashtag was first proposed. Twitter received a suggestion to use the hashtag for tagging group conversations. Initially Twitter rejected the idea, perceiving that the idea was too complicated for the fun-loving and fast-moving social media users. Over the span of a few short years, social media platforms like Twitter and Facebook have evolved and are no longer platforms for simply for peer-to-peer communication and funny cat videos. They are engines for commercial success – for brand growth and development along with marketing and promotional activity.
Today, if you open Twitter or Facebook, you will find that your friends are using hashtags for the majority of their status updates, location check-ins, pictures, and comments. Businesses are also hashtagging offers, products, and events. You can click through the hashtags tab to learn what topics are trending or find the latest news. For online retailers, the hashtag has become a vital marketing tool. The hashtag draws attention to the post, almost as a way to skim the messaging, and thus has become one of the strongest marketing tools for businesses.
Reputable Organizations Have Made It a Common Practice
From large corporations to small companies, hashtags have leveled the playing field. If you check out the social media profiles of big players in the online retail industry, you will see that using hashtags fuels their marketing strategy. The humble hashtag in companies like Amazon, Zara, Topshop, H&M, Lazada, Misguided, Nasty Gal, ASOS, Boohoo, and many others, has become a benchmark marketing strategy for consumer involvement – thus making the consumer an advocate of their brand or product. According to studies, an average of 7 million items are discovered per day across these and other marketplaces. Most trending marketplace items have gone viral through the use of a hashtag.
Hashtags for Boosting Online Sales/Promoting Company Events
Hashtags have bigger roles to play in social media than just selling products. Businesses have realized that there is almost a science in creating the perfect hashtag – catchy, succinct, and easily recognizable. Retailers can promote their upcoming events via hashtags as well as making announcements that can be successfully marketed by utilizing effective hashtags. Promotional offers, store-specific events, brand collaborations, and reviews on product purchases can all be marketed through the proficient use of hashtags.
Using Existing Hashtags
Online retail businesses can use existing, trending hashtags for promoting their businesses, events, or products. For example, if you are a clothing retailer, you can use the existing hashtag, like #OutfitOfTheDay (#ootd) to reach a broad audience as it is one of the most commonly used hashtags. Using such pre-existing hashtags attracts organic traffic and businesses increase their visibility to potential customers. Twitter and Facebook both have a real-time trending topic board that can be used as a springboard to develop a marketing campaign utilizing a topic that consumers are already speaking about. There are also companies online, such as RiteTag and hashtags.org, that can help direct your hashtag focused marketing strategy.
Using Hashtag Information with Retail Analytics
Trending hashtags tell us a lot about current market trends. Your business can easily search for products that are trending right now, and quickly meet consumer demands. You can plan new products or customize existing product offerings as the demands of prospective buyers change. Every business has its unique target group of potential buyers and by actively monitoring trending products you keep ahead of the competition.
If your business dovetails their social media presence with a powerful retail analytics platform such as iNCompetitor, you can leverage consumer-focused trends with market-driven insights to increase revenues and overall profitability. To find out more about retail analytics and how they can benefit your business, get in touch with IntelligenceNode to arrange for a one-on-one consultation and a free demo of iNCompetitor.