Impact of Social Media on Consumer Buying Behavior
Impact of Social Media on Consumer Buying Behaviour
Gone the days when business was limited to a specific area. Technological advancements and the introduction of social media have revolved around the market. Now businesses see tremendous opportunity globally. But operating in an international market isn’t that easy like it sounds. It’s challenging as the business has to develop brand recognition globally to get a foothold in the international market. Social media has revolutionized consumers purchasing trends in recent years. The impact of social media on consumer can be seen easily with change in consumer behavior. Initially started as a platform to share photos and videos with friends and family but turned out to be a dominant marketing tool. The use of social media has been considerably growing these years. According to a recent report, the social media user worldwide in 2019 is 3.484 billion. As more and more people joining social media. The number of people making an online purchase is growing at warp speed. According to a survey in 2018, an e-commerce sale was made up of 11.9% out of all global sales.
Traditional advertising methods have become the talk of the past. As the world has changed, advertisers must use modern ways to advertise their products or services. The biggest and proven medium of advertisement is Social Media. According to an average person spends 2 hours every day on social media sites. Social media is gaining popularity and booming like never before. As the social media industry is growing at immense speed, every business needs to leverage proper social media channels to take benefit in the best possible way.
It’s not a secret that social media and marketing have been united. Social media marketing indubitably plays an important role in influencing consumer behaviour. Giving your business social media presence not only promotes your brand or generates more business but also able to connect with customers in a better way but also serve them on a high level. Companies can harness social media strategies to promote a brand, sell inventory, and increase customer engagement.
How social media affects consumer behavior to drive traffic and sales
- Brand Promotions: Social media posting enhances brand visibility. Users can see your products, features, and if a user follows your brand, then they are likely to buy your products or services. Business can promote brand in social media using stunning presentation template to grab attention on new products, offers, etc.
- Increases Brand Loyalty: As a customer, you won’t invest your money on an unknown brand because of fear of fraud or quality issues. Your brand visibility on social media also elevates its loyalty. Consumers always want their favorite brands to succeed. They always share a positive review whenever they see your posts.
- Deals: Social media is a great platform to promote your deals. Consumers won’t google and scroll down page after page to see your promotional offers. Social media is a convenient option to see offers, hours of operations, addresses, etc.
- Referral: Your consumer is likely to share or recommend family or friends if they like your product. According to the survey, 93 percent have either received a recommendation or made a recommendation for a product or service.
- Social Media Increases the Likelihood of Purchase: Rather than spending hours browsing items in the store or communicating with a salesperson. Consumers turn to social media to browse the new collection, information before making purchases. 29% of people likely to purchase on the same day when they use social media in the decision-making process. Make attractive broucher, advertisements using social media Infographics available over internet.
- Review from Influencers: Social influencers are the person who has an immense following on social media. Businesses can hire social influencers to endorse their products. If an influencer shares a product in his/ her, social media’s followers often get interested in knowing about the products.
- Word of Mouth Marketing: It is the most effective marketing ingredient since the beginning of the time. Before Television ads, newspapers, or through billboards, the consumer can learn about the product. But social media and the internet have taken it to a further level. Through online channels, customer reviews became extremely accessible and extensively utilized. Consumers can learn about the product, its qualities, features through social media.
- Social Media can Drive or Ruin Your Business: In the age of technology, remember your consumers has immense power. Consumers dissatisfied with your service can deter the traffic just by posting a bad review about your brand, deterring others from trusting your brand.
With 95 million social media shoppers in the US alone, there’s a huge opportunity for online marketers. Thus, we can conclude Social media have large impact on how consumers spend money these days. Stay updated with the current trends, find out creative, innovative and unobtrusive ways to explicit your message which will likely be necessary for future success. Invest in social media marketing and find out where your consumers are on social media, their needs, and how to meet their expectations. The return of the investment can be high if the business understands and take into consideration all the points.