How social media affects consumers buying decision
The World Wide Web (WWW) offers a platform for tremendous amounts of information and ideas to circulate. Social media has been the most efficient component of WWW in terms of effectively disseminating and reaching out to the general public. Which is why, it is now also a crucial and highly successful platform for marketing.
When we talk about Digital Marketing, less than two decades ago, it was limited to Television and Radio – which wasn’t easily available to majority of the public. On the contrary, with social media taking up most of the digital marketing space, and being readily available in handheld devices, it has become easily accessible to everyone. Hence, marketing with social media makes the product/service more known and creates more awareness compared to other forms of digital marketing.
We should also address the issue of high competitiveness of this era. With similar business counterparts marketing identical products, social media clears it up before the people how your product is better and unique than any other in the market; hence, resulting in higher consumer awareness and possibly higher purchases. Social media also provides an easy way of browsing products that would not be available in other forms of digital marketing. It is easy, convenient and accessible.
According to reports from The Deloitte, consumers are 4 times more likely to purchase a product if they are engaged in its social media promotional pages, probably deciding if the product/service is worth the money analyzing hundreds of reviews posted on them. This also makes the era of social media marketing highly demanding in the sense that only the products or services that are the best a provider can supply has a chance of surviving the social market. Weighing its highs and lows, social media is a great tool to influence consumer decisions.