By: Amanda Castillo | @_mandymichelle
Have you even been scrolling through your social media and then had the sudden urge to buy something you just saw?
Yeah, haha, me neither…
but really, based on a study, “Social media works well with most groups but especially with millennials. The Deloitte report found that 47 percent of millennials are influenced in their purchases by social media, compared to 19 percent for all other age groups.” Wow, 47% of millenials, that’s a huge opportunity for brands on social media and that’s not all. “The Deloitte report noted that consumers who use social media during their shopping process are four times more likely to spend more on purchases than those who do not. It goes even further. The report states that shoppers are 29 percent more likely to make a purchase the same day when using social media to help shop before or during a trip to the store.”
What does this mean for brands?
“Recent research shows that the role of social media on marketing decisions is startling, meaning it is time companies started putting more emphasis on their social media strategy.” Brands can’t afford to overlook social media as a marketing tool, even if they have a “boring business” or one they don’t think will translate to social media well. Maybe they just haven’t found the right platform or need help thinking outside of the box, but as social media becomes bigger, the more they are losing those opportunities, and consequently, consumer loyalty and money.
Why is that exactly?
“Social media exposes you to more items/services that you may otherwise not know about.” Sometimes the answer is simply that people are unaware of your product or service, social media can help bridge the gap between your business and possible consumers.
Another reason this is true is because of word of mouth. Social media is where we can find and review products/services/business for all the world to see and it is seen as more trustworthy than ads put out by the business themselves. “Social media encourages trust. As people make those connections, they build up trust. They are more likely to believe in what their online peers say and recommend.”
Pro tip for businesses
Get your brand/business/organization on social media. Spend time on it, be proud of it, resonate, relate, and build a community with possible consumers and watch those sales grow!
Ahmed, Masroor. “Is Social Media the Biggest Influencer of Buying Decisions?” Social Media Today. N.p., 31 May 2015. Web. 10 Mar. 2017. <http://www.socialmediatoday.com/marketing/masroor/2015-05-28/social-media-biggest-influencer-buying-decisions>.
Roesler, Peter. “How Social Media Influences Consumer Buying Decisions.” The Business Journals. N.p., 19 May 2015. Web. 10 Mar. 2017. <http://www.bizjournals.com/bizjournals/how-to/marketing/2015/05/how-social-media-influences-consumer-buying.html>.
SocialNewsDaily. “How Social Media Affects Your Shopping Habits.” Social News Daily. N.p., 06 Nov. 2014. Web. 10 Mar. 2017. <http://socialnewsdaily.com/44988/how-social-media-affects-your-shopping-habits/>.