Role of social media on the purchasing behavior
Nowadays, people make their purchases online. In 2018, e-commerce sales were 11.9% of all global retail sales .
That number is still growing. More people turn to use their computers and mobile devices to do shopping, businesses are scrambling to keep their products and services top of mind of their consumer while the process of attracting and maintaining.
Traditional advertising methods relied largely on media placement – posting ads in newspapers, television commercials, or even outdoor billboards.
The world has changed and so the methods used by advertisers in order to ensure that people are aware of what they have for sale.
An ODM Group study found that 74% of consumers depend on social media while making their purchasing decisions.
According to HubSpot, 71% of consumers are likely to make purchases based on social media recommendations.
Meanwhile, a report from Amimia shows that 31% of consumers claim that they use social media to browse for new items to buy. Forbes has shown that 78% of consumers’ purchases are affected by brands social media ads and posts.
Marketers use social media platforms like Facebook, Twitter and Instagram to market for their products and services. They find these platforms easier to engage with potential buyers.
It may be difficult to keep up with the changes within the online marketing industry, but by digging a little deeper into various studies and trends we can start to form a picture of exactly what is happening.
The Big Three Platforms
Big Commerce is a marketing company that represents several popular brands including Ben & Jerry’s, Hess, Skull Candy, and more. According to them, the three best places to invest your ad money remain Facebook, Instagram, and Twitter.
Despite repeated controversies, Facebook has proven itself resilient. Even if the company has had to rewrite many of its standards and practices to accommodate international regulations, it has continued to grow its advertising revenue.
As experts point out, the growth rate is slowing down. However, Facebook accounts for 50% of total social referrals and a further 64% of overall social revenue, shows Business Insider.
In 2015, Facebook was responsible for influencing more than half (52%) of consumers’ online and offline purchases, shows DigitasLBi Commerce.
Twitter has proven itself a widely popular tool for people to recommend companies. Sprout Social shows that 53% of consumers recommend brands or products in tweets while a further 48% follow through to purchase those products or services.
HubSpot has shown that Twitter users rely on the platform to learn about products and services, as well as provide their opinions.
Instagram is growing steadily. The social platform boasts more than 500 million monthly active users.
Friends and family effect
While the role of an influencer can’t be overstated in modern marketing campaigns, it is important to remember that there are more traditional ways of influence that still have an impact.
Our friends and family have a lot of sway in our purchasing habits. According to Forbes, 81% of consumers’ purchasing choices are influenced by their friends’ posts on social media.
Social media promotion act as investment
The ‘social’ through the ‘media’ to ‘market’ businesses’ constituents; in alternative words, it’s a method of empowering people to push their websites, products, and/or services through online social channels, to move with and to faucet into a far larger communities which are not accessible via ancient advertising channels.
To be consistent with integrated promoting communication we’ve got to understand that currently social media is the foremost necessary media combining all in one which helps increasing the impact of selling on the getting call.