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A new press release from Gartner has advised retailers not to ignore the increased consumer traffic that social networks are generating.

“Until recently, retailers considered social networks relevant only for the youth market, meaning that many have largely ignored them,” said Hung LeHong, research vice president at Gartner. “However, as social networks expand to embrace ever-wider demographic groups, retailers need to ensure that they have a position on them.”

Gartner has created a list of the top 10 things retailers should know about social networks and what action to take. Key points that I think are particularly important for retailers are:

• Social networks can be a huge source of consumer data – as with store loyalty cards, consumers are often willing to give up a little privacy in exchange for a valued service or discount.
• Retailers should focus their social network activity on content produced by members – if a social network provides corporations too many capabilities in interacting with members, there is a risk that members will leave the network. The aim should be to create a forum or application that will create value for other members while promoting the organisation’s brand.
• Social networks are coming to mobile – the ability to access social networks from mobile phones is being promoted by the wireless carriers. This could be used in really innovative ways, and the article gives the example of  offering a limited time, in-store-only promotion that could be broadcast to friends to drive more traffic to the physical store.

The article, ‘Gartner Says Social Networks Are Attracting Too Much Traffic for Retailers to Ignore: Analysts Highlight 10 Things Retailers Should Know About Social Networks, and What to Do’ can be viewed at http://www.gartner.com/it/page.jsp?id=660409