How Social Media Influences Purchase Decisions

HOW Social media influences purchase decisions Statistics and Trends 4 in 10 Social Media users have purchased an item online or in-store after sharing it or marking it as a Favorite on Twitter, Facebook or Pinterest. f Share Pin it Tweet 71% of consumers are more likely to make a purchase based on social media referrals. f You Tnhe 71% Social Media Sites Most Likely To Influence Purchases Facebook YouTube LinkedIn You Tube in 30.8% 27% 27% Google+ Pinterest Twitter 8* 20% 12% 8% 78% of respondents said that companies' social media posts impact their purchases n in 78% Why Consumers Follow Brands On Social Media To keep up with activities You Tube 52% 57% 35% 35% You Tube To learn about products and services 56% 47% 56% 61% You Tube To leverage sweepstakes and promotions 48% 36% 28% 20% if You Tube To provide helpful feedback 32% 27% 22% 23% You Tube To join brand fan communities 27% 26% 25% 19% You Tube To make purchases 21% 15% 25% 21% To complain about products and services f You Tube 18% 19% 12% 9% After marking an item as Favorite: - 50% of the social media purchases take place within a week - 80% of the social media purchases take place within 3 weeks ir n ir m ir Week 1 Week 1 Week 1 Week 1 Week 1 Week 3 Week 3 Week 3 %age of social media users who purchased an item after sharing or favoriting on their network f 38% 29% 22% How Social Media Influences Purchase Decisions Additional i product information 43% 25% 26% Product discovery 35% (31% (35% Purchase location identification 28% 15% (38% Purchase reminder 26% 23% (32% UUU Product recommendation 26% 19% (32% Product sale or purchase alert 19% 37% (32% 41% of people who found the item they purchased because they just happened upon it said that they hadn't even thought about buying it or something like it. 88% 41% X Conversely, 88% of people who found the item they purchased by searching for it were already thinking about buying it or something or favorited it. 50% of pinterest purchasers created a pinboard specifically for a purchase decision. Major product categories for social-to-sale purchases f Food & Drink 26% 14% 13% Art & Design 21% 5% 9% Gardening & Décor 18% 8% 8% Fashion & Beauty 17% 22% 18% Tech & Electronics 6% 25% 34% 14% 26% 18% Other Designed & Compiled by: O invesp more conversions Source links: http://www.visioncritical.com/blog/new-data-how-social-me- dia-drives-purchasing http://www.marketingprofs.com/charts/2013/10336/digital-influ- ence-blogs-beat-social-networks-for-driving-purchases http://www.exacttarget.com/blog/20-stats-about-how-social-me- dia-influences-purchasing-decisions/ http://www.businessinsider.in/Social-Media-Engagement-The-Sur- prising-Facts-About-How-Much-Time-People-Spend-On-The-Major-S ocial-Networks/articleshow/27 488606.cms http://www.smartinsights.com/social-media-marketing/social-me- dia-platforms/social-sign-on-the-implications-for-ecommerce-sites/ http://www.forbes.com/sites/avaseave/2013/07/22/how-social-me- dia-moves-consumers-from-sharing-to-purchase/