Social Media Influence On Purchase Decision Growing!
Paul Dharmendra Ramkissoon, President Of Consult PR, IncSeptember 2013
Over the past few years many business owners and marketing executives have scratched their collective heads in trying to make sense of how social media can benefit their businesses. Not only do the majority of social media platforms seem consumer centric and developed for personal use, they also present unique challenges as younger demographics were more attune to them than the age ranges you find in your typical upper level management executives or business owners. Well, the good news is that many internet marketing firms have found ways to implement branding and outreach initiatives for their clients using social media...the better ones having found true return on investment measurements and conversions for their clients.
The mystique and cloudiness is fading and research is starting to emerge that suggest that social media is a major player in purchase decisions. To be frank, even I was taken aback when Nielsen Surveys reported earlier this year that 46% of those polled in a global survey reported social media as an important part of their purchase decisions. That’s simply put a “crazy” number. My take on this is that since the survey was global it taps into polling data from 3rd world countries where costs to build and host business websites are high. This results in many small businesses in those areas of the world turning to free social media portals and using them in place of a website. This then leads to consumers using those portals for buying decisions and hence may have thrown this survey statistic out of whack a bit. I suspect if they were to limit it to the developed nations, we may see a figure more in line with 15-20%, but that’s just my latest hypothesis...and those of you that know me, know that I am not short on being opinionated or shy to take a guess at what is really happening out there. But still 46%...that leaves me speechless.
In the meantime, get in touch with us if you have not already done so and let’s have a conversation about this sort of thing. At worst, it will lead to a free consultation and perhaps more business for you via the social media wave! Also, if you get a chance, we invite you to connect with us on our social media platforms listed below. See you in cyberspace...hahaha.