A Deloitte report highlighted that buyers influenced by social media are four times more likely to spend more on purchases. Moreover, the influence can be so high that 29% of consumers are more likely to purchase on social media directly.
Over time, social media evolved from connecting friends to becoming a means to follow brands and influencers, buy products, interact with celebrities and watch live content. For Marketers, social media is a potential goldmine of business intelligence, easy insight into who your buyers are, how they interact with your brand and what they respond to. Social media can influence potential customers from the start until the purchase and beyond.
Here are 4 ways we believe social media continues to influence consumer behaviour.
Builds brand awareness.
With social media now the number one device for advertising, marketers must understand it’s not so much promotion and advertising that makes a difference online. Instead, buyers value sincerity, peer and influencer recommendations, and brand values – So, how do you do this? Through brand awareness of course!
- Social platforms allow for brand personality to shine through with personal, human-centric content.
- From social bios to profile images, how you set up your profile determines whether or not people recognise you.
- You can create your news cycle. If your brand is conducting any original research or a new product launch, it can be a huge authority booster that does wonders for brand awareness.
As brands scramble to offer more products and services online, social media platforms — such as Facebook, Instagram, and WhatsApp have begun rolling out eCommerce tools to help businesses sell more items directly from their social pages.
It reinvented the ‘review.’
Brands can now use their social space to share and amplify satisfied customers reviews, customer testimonials, comments. Not only has social media boosted the customer’s voice, it’s now a top content filler for brands- think “screenshots of customer reviews or private DMs of gloating reviews.” We can’t overlook the invention of the ‘Influencer.’ Brands want to work with influencers who are not just amplifiers but communicators. With audiences wanting authentic content, an influencer review promotes genuine content that keeps buyers engaged without looking too filmy or sponsored.
Speak directly to your customer.
Social media has streamlined and automated customer service, allowing brands to create personal connections with their customers, responding to inquiries, complaints and reviews instantly, all of which improves and expedites their buying experience.