Social media is one of the most significant factors in influencing buying decisions, according to a new survey.
The poll, commissioned by Bizrate Insights, found that consumers are willing to spend more on products recommended by friends or family on social media than they are on peer recommendations made offline.
Bizrate surveyed 5,000 adults 18 and older in the U.S. about their purchasing habits across various channels. Results showed that 71 percent of respondents were influenced by friends or family when making a purchase, while only 63 percent said they were influenced by salespeople in-store.
Social media is one of the most significant factors in influencing buying decisions, according to a survey from the Institute of Direct and Digital Marketing.
One question asked: “If you think about buying a product or service that you haven’t bought before, how important are the following information sources when you make a decision?”
88 percent said they were likely to be influenced by friends’ comments on social networks.
In comparison, only 35 percent said they would be influenced by newspaper reviews and 42 percent by magazine reviews.
Approximately 80 percent of respondents said they had been influenced to buy a product or service because of something they saw on social media, while only 30 percent said this had occurred after seeing something in a newspaper review.
Social media is a powerful tool for e-commerce companies. Social networking sites have become one of the most significant factors in influencing buying decisions by consumers.
In a survey conducted by Cone Communications, a public relations firm, 74 percent of people said that product information posted on social media is more likely to influence their purchasing decisions than product information from any other type of media, including websites and print ads.
The reality is that customers are no longer looking to just buy products from you, they’re looking to connect with you as well. Social media makes it possible for customers to buy products and services and also establish relationships with your business and brand (provided you’re not sitting behind your computer and responding to them with automated responses).
There are numerous ways you can successfully use social media for your e-commerce business. You can:
Share valuable content – Social networking sites like Facebook and Twitter allow businesses to create content such as blog posts, videos, photos and more that can be shared with customers. By sharing valuable content that answers questions or solves problems for your customers, you establish yourself as an expert in your industry. Your customers will then trust you more since they know you’re always available to help them solve problems and provide answers on social media.
Social media has become a powerful influencer of consumer behavior and the purchasing journey. According to a survey conducted by Curalate and Ipsos, 65 percent of U.S. consumers consult social media when making a purchase and one-third of those surveyed said that they have been influenced to buy an item they otherwise wouldn’t have after reading about it on social media.
The research also shows that the positive sentiment expressed on social media is highly influential for consumers, with 79 percent revealing that it makes them feel more positively about a brand than they normally would. Social media services is not only about selling products; it’s also about building relationships with customers and making them feel like part of a community. Company’s branding starts in gathering influencers in your social media accounts.