How is Social Media influencing Consumers Purchasing Decisions?
What started as a way to connect families and friends online has evolved into a way to connect brands with consumers. With the growing number of new platforms of interactions, the world has entered a new social revolution that has altered the way we interact online.
The ability to have access to millions of users in a single location is so powerful, nowadays, social media is a must for any organisations marketing plan and for good reason. With 74% of users turning to social media to make their purchasing decisions, we can say that brands are the controlling factor to influencing how we act and feel. Let’s take a deeper look:
Try and scroll through your Instagram feed without seeing a paid partnership ad come up. Go on…we’ll wait. It’s impossible right!
Influencer marketing has taken by storm, importantly it has become accessible to any business of any size. The likes of Nike and Adidas have longstanding endorsements that has enabled them to create these empires and reach more people organically. Take the example of the $1 billion sponsorship deal that Nike has with Cristiano Ronaldo, and yes that’s a lot of money. However, Cristiano’s total social reach is over 375 million users, multiply this by the number of reposts and you have a massive audience.
This once was a tool for large corporates however, influencers are so varied now that you no longer just need a celebrity to endorse your brand. In fact, millennials trust the credibility of Influceners more so than celebrities. Businesses are now indirectly influencing our purchasing behaviour by tapping into these personas that we identify with. It surely is a great tool to create more buzz in a socially connected world.
Social networking considers the spread of data about an company, product or service. This data isn't limited to the content a company alone shares, but an extended network of platforms designed to share unbiased customer feedback. 80% of buyers are now turning to online reviews to make their purchasing decisions; they trust the credibility of these platforms and the users providing the feedback.What does this mean for businesses?
Businesses need to be aware that influencing purchasing behaviour is now also controlled from outside of their organisation. It is a great tool to monitor how your brand is perceived by your audience and enables you to continuously improve your customer service. Positive reviews should be shared and incorporated into your content strategy, and negative reviews are an opportunity to convert a disgruntled customer in a loyal buyer.
Search Engine Optimisation on Social Media
Social media is not just a platform that connects, it’s also a powerful search engine that is growing in use. With 3.48 billion of the world’s population actively using social platforms; it’s a natural choice for searching. Users are unknowingly led down the rabbit hole from these social algorithms and are presented with the strategic placement of content. As users, we have now entered the top of the sales funnels and unwittingly a potential loyal brand purchaser.
From a business perspective, this is fantastic! Connecting keywords and personas has never been easier. Businesses now have more insights into what their audience is searching for and helps them shape their future directions.
Buyers are ultimately turning to social platforms to make purchasing decisions, sometimes intentionally and other times subconsciously. Businesses ultimately need to evolve and understand how a savvy shopper can be now influenced. They now need to be a part of the conversation and understand what consumers want. This will allow your business to focus your social media strategy where it matters most.
Want to know more? Get in contact today with our marketing team to discuss your future social direction.
Alexandre “Alex” is a Marketing Assistant at Sierra Marketing. Joining the Sierra team in 2019, Alex has brought his knowledge of digital marketing principles from the beverage industry. His work at Sierra Marketing focuses on the execution of digital and content strategies. Alex is inspired by new emerging technologies and art.