Social Media Influences Buyers; Duh!
According to a report published by digital marketing agency Razorfish, four out of 10 consumers have made a purchase based on advertising they saw on a social media site and 76 percent welcome advertising on social networks. I have a lot of concerns about the study, primarily that "search" is considered one of the mediums that is influencing the decision to buy. Little in the way of methodology was provided in the report and even less about what constitues social media in general, rendering this report in my opinion, about as useful as a chocolate teapot.
Fortunately, the Consumer Behavior Study also contained some tips for marketers on the eve of a challenging holiday season, such as the importance of personalization and loyalty programs.
- Razorfish reports that 65 percent of connected consumers say that retail loyalty programs highly influence purchasing decisions. According to Razorfish, loyalty services like Amazon's Prime™ or Best Buy's Reward Zone® are essential for retailers to succeed in a competitive digital environment.
- Websites that give personalized recommendations strongly influence connected consumers. Of the total surveyed, 65 percent said that they have made a repeat purchase on a site that issued an automated recommendation based on their previous purchase.
"Connected consumers embrace social media, are actively building and refining their own trusted personal networks and are rapidly dabbling with emerging communication offerings like Twitter," said Garrick Schmitt, Razorfish Group Vice President of Experience Planning and FEED editor. "We find that consumers are more open to advertising as part of their everyday experience than commonly assumed."