MARKETING/SOCIAL MEDIA

Survey: Consumers want to initiate social media interaction

BY Dan Berthiaume

Jeffersonville, Ind. – Almost three-quarters (72%) of consumers only want to socially interact with a brand when they first comment on social media channels. Findings from a new customer survey from Accent Marketing Services LLC also show that 75% of Millennials find it helpful when other customers/followers respond to a question or comment posted on a brand’s social media channel, compared to 55% of Baby Boomers.

In addition, 82% of consumers use Facebook to speak with a customer service representative and two-thirds of consumers use Facebook to find good deals and promotions, including 80% of Baby Boomers. More men (34%) than women (25%) use Twitter to speak to a brand they have purchased a product from.

“Consumers behave differently across channels and if brands are going to create engagement that drives customer loyalty and builds brand advocates, it’s increasingly important for CMOs to understand their customers’ behavior on varying channels,” said David Norton, executive VP customer analytics and insights at MDC Partners and Chairman Accent Marketing Services. “To be a part of the conversation, CMOs need to have a social strategy in place to build a trusted relationship with their consumers and within their social community, ultimately creating a lifetime of engagement on social channels and in person.”

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OPERATIONS

Survey: Screening uncovers resume lies

BY Dan Berthiaume

Charlotte, N.C. – More than nine-in-10 (93%) retailers who have conducted background screening of job applicants have discovered lies on resumes. According to the 2014 HireRight Employee Screening Benchmark Report, 71% of retailers said background screening uncovers issues that would not have been otherwise found.

Retail survey respondents said better employees are the number one benefit of background screening. In addition, 49% said more consistent safety and security is a key benefit. Thirty-nine percent of retail respondents integrate screening with an applicant tracking system.

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FINANCE

Bed, Bath and Beyond misses on Q1 profits, sales

BY Dan Berthiaume

Union, N.J. – Bed, Bath and Beyond Inc. had a difficult first quarter of fiscal 2014, missing Wall Street estimates on both profits and sales. Net earnings fell 8% to $187.1 million, from $202.5 million in the same period a year earlier. Sales rose 2% to $2.66 billion from $2.61 billion, and same-store sales climbed 0.4%.

Lower-margin merchandise, increased customer coupon redemption and stronger online competition all negatively impacted Bed, Bath and Beyond’s net earnings performance. The retailer expects net earnings to increase for all of fiscal 2014.

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