Social Media's Powerful Influence on Consumer Buying Decisions
Updated: Jul 26, 2022
Did you know that social media has a powerful influence on consumer buying decisions? In fact, a recent study found that nearly 90% of consumers consult social media before making a purchase. This is because social media allows consumers to get feedback from their friends, family and peers about products and services. In this blog post, we will discuss the role that social media plays in consumer buying decisions, and how businesses can take advantage of this trend!
Shortens the Customer's Search Time
As the number of social media users continues to grow, so does its influence on consumer buying decisions. Social media platforms like Facebook, Twitter, and Instagram provide a unique opportunity for businesses to connect with potential customers. 81% of consumers' purchasing decisions are influenced by their friends' social media posts and over half of these consumers reported to have been inspired to purchase a new brand after seeing social media ads from other customers. By creating engaging content and interacting with consumers, businesses can build trust and credibility with potential buyers.
After this trust is established, a customer is able to purchase the advertised item within minutes. 29% of social media users are more likely to make a purchase on the same day and are four times more likely to spend more money on purchases. This easy-access shopping allows a much larger group of consumers to view products that might not have been available to them before.
In addition to connecting with potential customers, social media can also be used to generate leads. By running ads on social media platforms, businesses can target potential customers with specific interests and demographics. For example, Facebook allows businesses to target users by location, age, gender, and interests. It is a huge advantage for a business to be able to pick their demographic and cater to that specific consumer as well as advertise to other platforms. Social media has influenced those connections to take place and encourage growth.
Social media opens conversation up on a grand scale for businesses and their products. From social media influencers to product reviews, consumers can quickly be swayed on potentially buying a product. It is extremely important for a business to have an established social media presence and to be aware of the conversations and reviews happening surrounding their content.
If you're not already using social media to influence consumer buying decisions, now is the time to start! Social media provides a unique opportunity to connect with potential customers and generate leads. By creating engaging content and running targeted ads, you can reach your target audience and increase sales. So what are you waiting for? Start using social media to your advantage today!
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