74% Purchasing Decision is based on Social Media Influencers

74% Purchasing Decision is based on Social Media Influencers

2021-12-13 18:17:29

People are making purchases online in more significant numbers than ever before. E-commerce sales accounted for 11.9 percent of all global retail sales in 2018.

That number is steadily increasing. Businesses are trying to keep their products and services front of mind as more people turn to their computers and mobile devices to shop.

Advertisements in newspapers, television, and even outdoor billboards were the mainstays of traditional advertising strategies.

However, as the world has changed, so have the ways that advertising must employ to guarantee that consumers are aware of their products for sale.

Social networks have proven to be one of the most important new markets.

Also, Read: How to Market Your Business Using The Internet this 2021?

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The influence of friends and family

While the influencer's importance in modern marketing efforts cannot be exaggerated, it's crucial to remember that more traditional pathways of influence still impact.

Our purchase habits are still heavily influenced by our friends and family. 81 percent of buyers are impacted by their friend's social media posts while making shopping decisions.

Demonstrating that our colleagues have more clout near the bottom of the sales funnel.

This group of family members and close friends can influence our brand loyalty and purchasing habits. As a result, marketers should be aware of how these inner circles affect consumers.

Also, Read: Why Creating Killer E-Commerce Product Pages is Very Important

Tell me about yourself

People are increasingly using Instagram Stories to publish content on social media. About 400 million users use Instagram Stories every day as of June 2018. Since the feature's debut in 2016, users have increased by 300 million.

This type of advertising has also been shown to be successful on other platforms. People enjoy realistic, factual content, as Snapchat has proved.

This resource allows firms to show off their personality and culture by taking people behind the scenes of their activities.

Facebook has only lately adopted the feature and has demonstrated a strong desire to market it. Marketers can even utilize tales as a placement for specific Facebook advertising objectives.

Non-profits, on the other hand, take advantage of this. They realize it's easier to target brands on social media for fundraising purposes.

Also, Read: Ways to Maintain and Grow Your Business During a Pandemic

The Number

74% of consumers use social media to assist them in making purchasing decisions.

This has been supported by other research. 71% of buyers are more likely to buy based on social network recommendations.

Meanwhile, 1% of consumers claim they use social media to look for new products to buy. Furthermore, social media posts by businesses influence 78 percent of customer purchases.

Of course, this isn't a brand-new occurrence. For years, marketers have utilized social media sites like Facebook, Twitter, and Instagram to promote their products and services. They find it easy to engage potential buyers on these channels.

The Three Major Platforms

Big Commerce is a marketing firm that represents various well-known companies such as Ben & Jerry's, Hess, Skull Candy, and others. According to them, Facebook, Instagram, and Twitter are the three most excellent locations to put your ad money.

Instagram

Instagram is steadily gaining in popularity. More than 500 million people utilize the social media site every month.

Its audience engagement rate was 70% higher than Facebook's and 669 percent higher than Twitters in 2017.

Twitter

Twitter has proven to be a popular platform for people to recommend businesses. 53% of consumers recommend businesses or products in tweets, with another 48% going on to buy those products or services.

Twitter users use the network to learn about products and services and express their thoughts.

Facebook

Facebook has proven to be durable in the face of numerous controversies. Despite having to rewrite many of its rules and policies to comply with international legislation, the company has maintained its advertising revenue growth.

Experts point out, however, that the rate of expansion is declining.

Despite this, Facebook accounts for 50% of total social referrals and 64% of total social revenue.

Facebook influenced more than half - 52 percent - of consumers' online and physical purchases in 2015.

Influencers are on the rise.

While knowing which platforms are the most efficient with your advertising dollars is helpful, it's probably more vital to understand how effective marketers are at selling their wares on these platforms.

One of the essential new tools for digital marketers is influencer marketing.

A social media "influencer" is someone who can sway their followers' decisions.

According to a survey by the Influencer Marketing Hub, nearly half of Twitter users have made purchases directly from a post from an influencer.

Those who are influenced by influencers are more likely to be younger, with 84 percent of millennials saying user-generated material from strangers has at least some influence on how they spend their money.

Influencers have recently received some bad press due to an epidemic of aspiring influencers purchasing "fake" followers to deceive firms into paying them.

Instagram is the most popular platform for influencers, and it has already begun to penalize accounts that try to buy phony followers. This could help to boost the legitimacy and authenticity of this marketing strategy.


Conclusion

We can observe that social media greatly influences how individuals spend money nowadays. However, the field is becoming increasingly crowded.

Staying on top of trends will continue to be crucial, but developing new, discreet ways to get your message out will almost certainly be required in the future.

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