21 (Shocking) Facts on How Social Media Sites Affect Consumers’ Buying Decisions
Do you believe that Social Networks Influence 74% of Consumers’ Buying Decisions? Social media sites have taken the top spot as the most influential platform on the Internet.
Facebook, Twitter, Instagram and other social media sites have billions of users worldwide. What does it mean? It means that most people around the globe who can access the Internet have a social media account.
It is shocking, right? I will reveal more shocking statistics about this below.
This article will also discuss about the effects of social media websites to the buying decisions of the users.
The primary goal of the article is to showcase the importance of social media sites in affecting the decisions of its users. It will also be an encouragement for all the business owners to invest in their social media marketing campaigns.
1. 81% of Consumers’ Purchasing Decisions are Influenced by Friends in Social Media
This is not something too shocking for you if you are using social media sites. As a matter of fact, you are the same, right?
You don’t make a decision to buy something unless you see one of your friends buy one. Peer pressure will also play a part in this. If your friends told you to buy something, would you buy it right away?
What if all of them already have something they bought on the web? Would you buy one? Most of you would say yes.
It is that simple. To be honest, I won’t be surprised if that percentage is 90% or higher.
2. 71% of Consumers Would Buy Something Based on Referrals in Social Media
If something is referred to you, it means that the product or service is good. It won’t be referred if the person referring it did not like what he/she bought.
If you are looking to buy something, do you usually search on Google? No. You always look at social media sites to find products and see if someone is referring it.
Consumer referrals are still better to be honest. It makes sense because these referrals mean that they already tried it. You might say that a product might be good for you, but not to another person.
We get it, that’s why it is only 71%. Most people still think that if someone liked the product or service, they will too.
3. 31% of Consumers Said That They Used Social Media to Browse Products to Buy
You have to remember that social media sites don’t have an option to buy directly.
In a recent study, 31% are using social media to browse for items. Facebook is the biggest with 26%, followed by Instagram with 8% and Pinterest with 6%.
If the social media sites would implement a direct buy option, this figure will go up. I think that most people will end up searching on social media sites instead of others.
4. Millennials Use Social Media to Search for New Products
According to a recent research, millennials are 1.6 times more likely to use social media to find new products. This statistic actually came from Facebook Insights.
Millennials are always browsing on the Internet. They are also the most active group of people on these social media sites.
It means that if they want to look for something, they would search on the web. It is pretty easy to understand.
They would rather search on the web than to go out and check the physical store. If they want to buy one, they will order them on the web as well.
5. 84% Percent of Millennials Said that UGC Also Affects Their Buying Decisions
According to a recent study, 84% of Millennials are also affected by user-generated content when they buy online. Even if the one who is sharing the product is not their friend, they might still consider it.
This is a big percentage and it has a positive effect for the companies that are marketing online. If they can create a Facebook ad or other ads, they can also capture the attention of users.
Let’s state an example. If someone suddenly vouches for a product and you don’t know him, would you buy?
Some would say no, but most of you will say that it depends on how it is presented. This is the same with Millennials. They will buy anything as long as the product is good.
It doesn’t matter who is vouching for it. They just want to know about the user experience.
6. 53% of Consumers Recommend Certain Products Through Tweets
This particular statistic is for Twitter. Twitter is not as hard core as Instagram or Facebook when it comes to ads. However, it is also a go-to for consumers when they are looking to buy something.
If you use Twitter, you will notice that some of the users are suggesting certain products or services. That 53% is actually the number of Twitter users that recommend products in Twitter.
This is actually for marketing purposes. Although Twitter is not too focused on photos, it is also used for marketing purposes.
A lot of companies are now using Twitter as a marketing platform. It is a sign that Twitter might probably make a few changes to support this.
7. 48% Follow the Recommendation and Buy Products (Related to #6)
It is amazing actually since Twitter is not meant for marketing. However, the site is slowly transforming into one.
You can now see a lot of tweets about different products and services. You can see people retweeting these recommendations.
It makes sense that more and more people will buy. Also, twitter has a lot of users. Most of them are millennials.
If you don’t agree with this, check out Twitter for yourself. There are so many ads and so many people selling products on the platform.
8. 78% of Consumers Stated That Ads on Social Media Affect Their Buying Decision
Now, this is the most interesting fact about social media sites. If most of the consumers are drawn to ads in social media, is a big plus for businesses.
Market Force recently made a survey about social media sites. They found out that 78% of consumers said that social media affects their buying decision.
This is a bit surprising actually because for me personally, I ignore ads. Unless they interest me, I don’t really care much about ads.
I am sure that most of you are the same. Well, it is a study made so I am pretty sure that this is a fact. This is good news for companies out there.
It means that whatever they are doing on social media is working.
9. Customers are 6 Times More Likely to Buy if there is an Image
If you have seen a post without any picture like, “I’m selling a beauty product. Buy it from me and get a discount”. Does it sound convincing?
No one would buy that. Actually, no one would even bother to read everything because there is no image.
If you put in a great photo of the product, it is likely that the potential customer will check it. If they check it, there is a chance that they would buy it.
The goal of the post is to capture the attention of the consumers. Then, they will buy it after reading what you posted.
10. Conversion Will Increase 133% When Shoppers See Positive Reviews
This is the truth about selling online. Most people look for positive reviews first before they buy. Also, they are more likely to buy if there are positive reviews.
The only concern here is that some reviews are only made up by the company itself. It is a type of marketing, so I have nothing against it. However, it tricks people to buy.
If you check out some Facebook pages offering products, they usually ask you to review the product. Facebook has this kind of feature.
I will also look for positive reviews when buying so I think this percentage should be higher.
11. Facebook Influenced Online and Offline Purchases in 2015 by 52%
It was in 2015. 52%? That is definitely a shocking statistic, but it has been 4 years since then. Are we expecting the same thing?
I can say that it would be around 80% or more if they did the survey today. Most people login to Facebook every day. They view their newsfeeds and these ads appear on them every day.
If they see something on Facebook, they do not only consider it when buying online. When they go out to buy something in a physical store, they would also look for it.
You have to remember that local companies market their products and services here. If they see a restaurant on Facebook near them, they usually check it out.
Actually, before I got to a certain restaurant, I check Facebook first. I look at the images and reviews before I go there.
12. 44% of Women Using Social Media Buy Products Because of a Trusted Blogger
This is a study made by Business2Community. According to them, women who use social media buy products due to someone else.
Women are very meticulous when buying something. It only means that the influencer managed to encourage them to buy what he/she is using.
It is also likely that they found this trusted blogger in social media sites as well. This is the power of referral.
These women would believe someone else because they can see it through the influencer. If the influencer is using a beauty product and she looks good, women would buy that.
Very simple, right? As long as you can convince others to buy from you, selling them in social media will be easy.
13. Pinterest Leads All Social Media Sites on Influencing Users to Buy a Product
According to a recent study, 43% of buyers from social media came from Pinterest. What is the reason behind this?
It is the power of images. Like what I mentioned previously, you cannot sell something without images. Pinterest is exactly the social media site that focuses on images.
Most people find some interesting products in Pinterest and they just follow and buy them directly.
It is followed by Twitter at 26% and Facebook at 25%.
I am using Pinterest, so I know that many users are also browsing there if they want a product. They look at the image there, check the description and they will decide whether to buy or not.
14. 71% of Consumers are Influenced by Friends and Family Members When Buying
This is a research done by Harris Interactive. Well, most people ask for help from their friends and relatives.
How do they provide reviews to them? It is through social media. Usually, they are asked to browse on Facebook or Twitter to check it.
This is not too surprising because even when buying offline, consumer buying is affected by friends. The thing is that everyone is buying online so this percentage can also be carried over.
15. 61% of Social Media Users Believe that Consumer Ratings are Number 1
When they are buying something, they always look at consumer ratings. This 61% is definitely a huge percentage because not everyone knows where to check reviews.
Facebook made it easier. If you check a business page, you can immediately see the reviews. You can even rate the page if you want.
This allows the consumers to say what they want. If they are not happy, they can make a poor rating for the business. If they are satisfied with the products and services, they can make a 5-star rating.
It means that most social media users check consumer ratings before they decide to buy. It is a good thing because they check user experience first before they make a decision.
16. 86% of Online Retailers in The United States Has a Facebook Page
This is very shocking if you were to ask me. Just imagine the amount of business in the United States right now.
Most business owners, big and small, started to enter the social media platforms. It means that they will market their products and services here.
This percentage has just proven this assumption. The remaining 14% are probably the stores that have been operating for a long time. It might be because they are already contented on their earnings.
But if you have a business, it is always important to have a Facebook page. You can post your products and services here. You can also speak with your fans and followers, so it is a good platform.
Most of these businesses already knew the power of Facebook when it comes to marketing.
17. 58% of Facebook Users Expect Promotions and Freebies When They Like the Page
More than half of the fans actually expect freebies and promotions from the business. This is not surprising at all.
Most of them actually found the page because they want freebies or discounts. Most users are attracted to promotions and freebies. They will like your page if you can offer them some discounts.
Also, if you are giving away freebies, they will like your page unconditionally. It doesn’t matter what item you are giving away. As long as it is free, they will like your page.
Most of them will only like the page because of discounts. However, if you can give them value, they would stay.
They will also check your page from time to time to see what you are offering.
18. Visual Content is 40x More Likely to Be Shared on Social Media
We have been talking about images lately. When it comes to social media marketing, we are not only looking at sales. You have to make sure that you have a wide reach as well.
If your fans are sharing your post, it will have a wider reach. If they are not sharing it, it means that it is not very interesting.
This is the reason why they usually spend time creating good visuals or images for posts. This is the reason why these companies take time to create a good image.
If the image is good, it will have a high conversation and it will be shared across Facebook.
19. There 50 Million Facebook Pages Associated with Small Businesses
This is an astronomical amount. This is the total of Facebook pages dedicated to businesses around the globe.
According to Forbes, 4 million out of these 50 million businesses actually pay for social media advertising on Facebook. This is a sign that they are serious in getting more conversions through social media.
Well, this is a good way to gain visibility online, especially on social media. If you can allow your page to appear to other users, you have a better chance of getting conversions.
20. 56% Of Users Who Follow Brands in Social Media Says They Do It to Check items
Right now, more and more people are checking social media instead of searching on Google for items. They can always look at Amazon if they want to buy something. However, most of them prefer to search in social media.
Why? It is because social media allows interaction with the page and other users. They can exchange information with each other.
If someone says that the product is great, someone can agree with it or someone would oppose it. There is a community involved so it is easier to make a decision.
Why would you go elsewhere if you can get everything on social media? They don’t need to check other sites to make a decision.
If they can get the info they want on social media, they can decide whether to buy or not.
21. 68% of Social Media Marketers Posted a Video Ad on Facebook
This figure will surely increase overtime because aside from pictures, videos are very popular as well.
We can see short videos being played on Facebook. They are often shared by the users.
The point is to create a video that the users will watch. You cannot simply upload any random video. Most of these marketers are using videos because it can easily capture the attention of users.
34% of these marketers have already used Facebook Live and 37% are planning to use this in the future. Facebook Live is a great way to talk with your followers.
You can set up a Facebook Live and answer their comments in real time.
More and more marketers are going to upload video ads on Facebook. Some of them even share some random videos that are related to what they are selling.
Social media marketing is definitely the most effective marketing method today. Almost all of your audience is already here so the best thing to do is to maximize your sales through social media.
These statistics will surely increase overtime and that is certain. This is only the beginning and we can expect more things from marketers in the near future. They might even include a direct buy option to the social media sites.
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Lisa Loeb is part of the content team at Vivipins where she develops resources to help customers start and grow their own businesses.