In the last decade, the rise of social media platforms has revolutionised the way people connect, interact and consume content. This has reshaped the way that consumers make purchasing decisions as social media has become an easy way to discover new products and services, find reviews and communicate with brands.
Beyond being platforms that are utilised for socialising, social media has become a powerful tool that profoundly influences consumer behaviour. The introduction of social media as a marketing channel has revolutionised the marketing landscape, shaping how consumers make purchasing decisions and how businesses can level up their marketing activities. This blog delves into the ways that social media influences consumer behaviour, to shed a light on possibilities that arise when incorporating it into your marketing strategy.
HOW DOES SOCIAL MEDIA INFLUENCE CONSUMER BEHAVIOUR?
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REAL-TIME COMMUNICATION AND CUSTOMER FEEDBACK
Social media provides a 24/7 feedback loop between consumers and brands. Brands are able to engage with their consumers to address queries, resolve issues and build strong relationships which of course, influences their purchasing decisions. This level of direct and real-time communication fosters a sense of trust and transparency which strengthens the relationship between brand and consumer.
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PRODUCT DISCOVERY
Social media is now a powerful research tool for many, proving as a valuable source for discovering new products, comparing alternatives and reading reviews. The endless accessibility to information on social media allows consumers to make informed decisions and find new brands, influencing their purchasing decisions. In fact, 81% of consumers have admitted to purchasing something that they saw on social media.
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PERSONALISED TARGETING
Social media platforms have access to an abundance of data surrounding the demographics, interests and preferences of their users which is extremely advantageous for brands. This data allows brands to influence consumer behaviour by creating highly-targeted advertising campaigns that reach the right audience at the right time. Personalised ads are designed to increase the chances of converting leads into customers through effective product placement and an enhanced consumer experience.
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SOCIAL INFLUENCE
Consumers are much more likely to purchase a product or service that comes highly recommended by other consumers. Social media creates a platform for online word-of-mouth which is one of the most powerful marketing tools out there. Furthermore, advertisements from influencers and online trends can rapidly spread across platforms, amplifying brand visibility and significantly impacting consumer behaviour. Due to its effectiveness, 93% of marketers have now incorporated influencer marketing into their marketing strategy.
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SOCIAL PROOF FROM USER-GENERATED CONTENT
Consumers seek reliability when investing in products and services and social media is an ideal place to seek valid opinions from valid people. User-generated content plays an important role in influencing consumer behaviour as it acts as legitimate proof of a product’s quality and credibility. Positive reviews and visual content shared by real customers assure potential customers that the product is authentic and influences their purchasing decisions.
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FOMO
The fear of missing out is only intensified by social media as consumers feel compelled to keep up with the latest trends and purchase products that come highly recommended online. Brands will further intensify this FOMO by employing social media to promote limited-time offers which often influence consumers to impulse buy.
Social media has transformed the way that consumers interact with brands and make purchasing decisions as they can now use social media to help them gather information, keep up with trends and discover new products. Brands that recognise this influence can build stronger connections with their audience, boost conversions and stay ahead of their competition by leveraging the use of social media.
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