What’s the impact of social media on consumer buying decisions? Though it is a communication or entertainment platform, social media has evolved to become much more impactful, especially for businesses.
Do you know 74% of shoppers make buying decisions based on social media? That's a lot and yet it's important to know what influences consumers to make purchases.
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Let's dive deeper to know about the ways in which social media influences consumer behavior:
5 WAYS SOCIAL MEDIA INFLUENCES CONSUMER BUYING BEHAVIOR
1. BUILDS PRODUCTS AWARENESS
If you're new to selling online, you might have experienced the difficulty of making customers aware of your products.
However, by utilizing the power of social media you can do that in no time. Well, let me explain.
Customers see products or product-related info only if they make a search in the search engines like Google or on Amazon. But with social media, they see products without even making a search.
And that fulfills the product's awareness part, but as a seller, you need to make that possible with your marketing efforts.
Also, before they intend to make a purchase they look for social media be it reviews or any other information stated.
And that makes us move to the next point, Social Proof.
2. SOCIAL PROOF
We all have come across the Word of Mouth concept, which is nothing but if a person we know buys some product they'll more likely suggest that product to us and thus it got that awareness from many.
While in social media we can able to connect with our friends, the family also with the person who we may not see very often. 80% of consumers are likely to purchase an item based on a friend’s suggestions.
These social proofs, testimonials, and reviews are great ways to make your potential consumers buy. As said, they're more likely to make a purchase based on the friend's suggestion likewise they'll more likely buy the products after looking at the reviews on social media.
3. PROMOTIONS & DISCOUNTS
Most of the consumers prefer online shopping due to the discounts, offers, and attractive coupons or free stuff other than offline stores.
Do you know 64% of online consumers wait to buy things until they go for sale? As social media users, customers have signed up for many groups/forums that they are interested in.
When consumers see promotions, discounts, and deals on social media, it influences their buying behavior. Make sure you post your discounts, offers and provide gifts to attract social media users.
4. SOCIAL MEDIA INFLUENCERS
Social Media Influencers are the people who have a huge base of audience that often shares the same interests. Consumers are more likely to buy when they get recommendations from a person they trust.
If an influencer shares a post on Instagram about her new clothing, her followers are often interested to know about that clothing.
You can find social media influencers in your niche, be it an Instagram blogger, vloggers, TikTokers, or Facebook group admins — this is a great way to reach your audience.
But regardless of whether the influencers’ posts are sponsored or not, their content has a large effect on purchasing decisions.
5. EASY CUSTOMER JOURNEY
When it comes to social media, customers ' buying behavior is much shorter than ever. They see a product, simply click on the link and buy it.
According to the report, 29% of social media users are more likely to make a purchase on the same day of using social media.
Let's say if your customer sees a product on Instagram, they'll analyze the products by the given reviews and decide whether they should buy it or not.
It’s clear that businesses — e-commerce and brick-and-mortar — need to have a strong social media presence in order to drive more sales.
Know your audience, focus on the right platforms, build social media strategy and increase your sales.