21st Century “word of mouth”

 In Branding, Business, Marketing

                                                            – Social Media –

Whether you like it or not, Social Media is rapidly becoming the next generation “word of mouth”.

Sharing or posting an image to a friend digitally is becoming the modern endorsement of a business or service.

I got my first start in Marketing and Branding in 2008 right as the economic crisis hit, when traditional methods of procuring business were unsuccessful most companies turned to free outlets.
What they found by focusing on this Content Strategy is that the traditional referral were quickly shifting to the next generation of “Direct Messaging” and “Post Sharing”.

If you still are not convinced, here are some recent statistics that might change your mind.

  1. 81% of consumers’ purchasing decisions are influenced by their friends’ social media posts. (Forbes)
  2. Consumers are 71% more likely to make a purchase based on social media referrals. (Hubspot)
  3. Facebook accounts for 50% of total social referrals and 64% of total social revenue. (Business Insider)
  4. 31% of consumers say they are using social media channels to browse for new items to purchase. (Aimia)
  5. Millennials are 1.6x more likely to use digital channels to learn about new products. (Facebook Insights)
  6. 84% of millennials say user-generated content from strangers has at least some influence on what they buy. (Gartner)
  7. 53% of consumers recommend companies or products in tweets, with 48% following through to purchase those products or services. (SproutSocial)
  8. 78% of consumers say companies’ social media posts impact their purchases. (Forbes)
  9. Customers are 6x more likely to purchase a product if the page includes pictures from social media. (AdWeek)
  10. Conversions increase 133% when mobile shoppers see positive reviews before buying. (Bazaarvoice)
  11. In 2015, Facebook influenced 52% of consumers’ online and offline purchases. (DigitasLBi Commerce)
  12. Global social commerce revenue reached $30 billion in 2015 (Statista)

Most business owners do not like the fact that the next generation of customers will be researching online before contacting their business.
A client recently told me, “If my next generation of customers are going to be on Social Media, then I need to be as well!”.

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