Social Media and the Path to Purchase
Does social media really influence consumers on their path to purchase? A new study out from Crowdtap suggests that it does, particularly around the holidays.
Crowdtap's "Social Influence on the Path to Purchase" report examined how social impacted pre-purchase, point of purchase and post-purchase and the results are somewhat surprising.
+ 75 percent of consumers visit Facebook during their pre-shopping planning for recommendations and advice from friends and family. One-third of consumers take a few days to plan their purchases, while another third plan only a few hours before.
+ While shopping in-store, more than 80 percent of consumers use their phones to compare prices on other sites and social networks and see if stores have online coupons or loyalty programs. More than half of consumers shop both online and in-store from one retailer, so brands should have a consistent experience across channels.
+ 47 percent of consumers will write a review after purchase. Of those shoppers, 68 percent will purchase from the same brand again within three months. More than a third of consumers are looking for a loyal relationship with a brand where they can be heard. Of these consumers, 71 percent prefer sharing feedback via social media than email surveys.
"As the holiday season approaches, it's important for brands and retailers to understand consumer needs and behaviors throughout the buying process," says Claudia Page, VP of product and partnerships at Crowdtap. "Our research indicates that shoppers naturally turn to social media as they plan and make purchases. By creating ways for shoppers to share their real experiences on social, brands and retailers promote consumer engagement and build brand loyalty."