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Posted: August 31st, 2022
The Influence of Social Media on Consumers’ Purchasing Behavior
Companies and businesses all over the world are continually seeking new approaches to reach consumers. Years ago, traditional techniques such as print media and television were the main marketing strategies used. With time and increasingly competitive markets, these strategies have gradually lost significance. Today, social media has become an indispensable marketing tool for many companies. As more people get involved in social media, many organizations also continue to rely on different social media platforms to reach out to consumers and market their products. According to recent studies, almost all kinds of businesses have turned to different social media to try and connect with their target market. Research has also shown that many people, particularly the millennials, rely on the information on social media to make purchase decisions.
So, how does social media influence the purchasing behavior of customers?
1. Creating Product Awareness
Social media is currently one of the leading strategies employed by businesses to introduce new products to the target markets. When people are not sure about which product to purchase, they start researching to find a solution. Any business that has established its presence on social media stands a higher chance of being noticed by these customers.
2. Influence on purchasing decisions
Satisfied customers who share their experience with a product on social media have a significant influence on potential consumers who may be uncertain about purchasing the product. By praising the products through likes, shares, and positive reviews on social media, happy customers create brand trust and convince more people to purchase the products. A business can indulge in social media marketing by sharing testimonials, pictures of the products, and videos of happy customers to increase the conversion rate.
3. The perfect platform to give promotions, discounts, and deals
There are dozens of groups and forums on social media comprising of different target groups. When people in such groups see promotions, discounts, and good deals, they are influenced to purchase the products. A business can narrow down their target market to such forums to ensure that people see their products which can impact consumer behavior.
4. Using Social Media Influencers
Influencer marketing has, in the past decade, become popular and widespread. Consumers are more likely to purchase a product when they get recommendations from a person they look up to. This includes celebrities and other popular persons that, in one way or another, motivate or inspire them.
With the right approach, social media marketing can do wonders for your business and brand. In the world today, any business that ignores social media marketing is missing out on great opportunities, including reaching out to the target market and influencing purchases.
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