With the inter-web world aggressively progressing by the minute, there is a constant increase in the evolution of social media platforms. Do you remember when social media didn’t exist to the degree it does today? Or when the hottest form of online communication was a messaging system called MSN? How about when “Tweeting” wasn’t an action, and blogging certainly did not have the insights and worldwide interaction it does today? Well, that has most definitely changed.
Whether we know it or not, social media sites like Twitter, Facebook and Blogs all have such a significant influence on society’s consumers.
Did you know that..
Social Networks Influence 74% of Consumers’ Buying Decisions
Not only am I speaking for myself, but also for the other 74% of society, when I say that social media content influences a hefty chunk of judgement whether to buy a certain product or service. Money is valuable, and when I’m going to buy something other than an everyday item, I want to have facts and opinions! I want information from users of the product or service themselves. I’m tired of fabricated content from companies, because in all honesty, we all know the objective is to sell and make money, right? Right. Therefore it doesn’t matter if the product or service being sold is in fact, going to provide you with the results the ads claim they do. That’s when you hit up social sites to see what other people have to say!
For Example, I was in Shoppers Drug Mart the other day trying to find a shampoo and conditioner that will solve my problem of dead ends and breakage. The thing is, after scanning the bottles lined up brand after brand, I started to realize that a majority of the products offered all stated the same things… So here I am debating on which brand to choose from. How am I supposed to know if L’Oreal would be better than Head & Shoulders? I don’t. Problem solver: Google about it, find a discussion group or blog post because trust me, I highly doubt I am the only girl who has experienced this contemplating brand problem… thing.
Jennifer Beese from Sprout Insights states that on Twitter 53% of consumers recommend companies or products through their tweets, and 48% of those follow through with the intent to purchase that product or service. This is a great way for people to find information regarding certain brands they have an interest in. In further detail, in terms of listening, businesses are using consumer insights in 80% of sales and merchandising decisions. So in other words, the businesses that you tweet, blog or post about care about YOUR opinion! Who better to critique better than a consumer.
Jenniffer Beese also mentions that as consumers increasingly turn to the internet to search and review products, ODM Group believes that by 2014, 53% of total retail sales will be affected by the internet. That’s clearly more than 50% of the population! Clearly social media is doing something right.