Does Social Media Affect Buying Behavior?
Recent study from Chadwick Martin Bailey en iModerate Research Technologies shows that over 50% of Facebook fans and Twitter followers say they are more likely to buy, recommend than before they were engaged.
The study of over 1500 consumers by market research firm Chadwick Martin Bailey and iModerate Research Technologies found that 60% of Facebook fans and 79% of Twitter followers are more likely to recommend those brands since becoming a fan or follower. And an impressive 51% of Facebook fans and 67% of Twitter followers are more likely to buy the brands they follow or are a fan of. Considering Facebook’s over 400 million users, the opportunity is great for social media marketers.
“While social media is not the silver bullet that some pundits claim it to be, it is an extremely important and relatively low cost touch point that has a direct impact on sales and positive word of mouth,” comments Josh Mendelsohn a vice president at Chadwick Martin Bailey. “Companies not actively engaging are missing a huge opportunity and are saying something to consumers – intentionally or unintentionally- about how willing they are to engage on consumers’ terms.”
The study also uncovered perceptions among consumers that those brands not engaging in social media are out of touch. When asked the question “What does it say about a brand if they are not involved with sites like Facebook or Twitter?” they said the following:
- “It’s EXPECTED that a company have some digital face – whether it’s on FB or Twitter I don’t know – but they need a strong electronic presence or you doubt their relevance in today’s marketplace.” Female 50-54
- “Either they are not interested in the demographic that frequents Facebook and Twitter or they are unaware of the opportunity to get more exposure in a more interactive method.” Male 35-39
- “It shows they are not really with it or in tune with the new ways to communicate with customers.” Female 18-24.
- “If they’re not on Facebook or Twitter, then they aren’t in touch with the “electronic” people.” Female 55-59
Recent statistics from Facebook show they have 400 million active users and more than 20 million people become fans each day. Twitter users post over 50 million tweets per day—that’s an average of 600 tweets per second.
Source: Chadwick Martin Bailey
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In my opinion this is a pretty obvious result, it would be something new to me if it would be the opposite.
What I would like to know is if they become loyal to that brand or not, I think this would explain actually how engaged they actually are on the long run within a given brand.
What do you think?
Does Social Media affect buying behavior? http://bit.ly/bkeBUW
I totally agree with you. Although this is a pretty obvious results, I still believe these kind of research is important. Yes, we already knew this as social media professionals, but clients needs to see prove in order to believe, and believing means: arranging budget and start a social media marketing program. Sometimes we must understand that we’re way ahead of the majority of clients.
Many clients want to do something with social, but they don’t know how, so therefore they stick to “the old programs”.
Social Media Affects Consumer Buying Behavior – http://tinyurl.com/yedb686
RT @ViralBlog Social Media Affects Consumer Buying Behavior – http://tinyurl.com/yedb686
RT @ViralBlog Social Media Affects Consumer Buying Behavior – http://tinyurl.com/yedb686
60% of Facebook fans & 79% of Twitter followers are more likely to recommend brands since becoming a fan/follower http://tinyurl.com/yedb686
RT @ViralBlog Social Media Affects Consumer Buying Behavior – http://tinyurl.com/yedb686
Like the article!
I think visualizes pretty well what social can contribute to AIDA:
http://www.socialmedia8.com/#/bureau/vspot
I keep on seeing this study pop all over the web. Whilst it’s interesting to see a relatively large scale study find this kind of claimed behaviour amongst on-line audiences, its weak point is just that. I would have liked to have seen claimed vs. ACTUAL behaviour. That would be a lot more valuable.
Hi Sam,
Thanks for the comment. I must say: I totally agree with you.
This is a really interesting entry. The study also raises good points and conversation. The only thing I have a problem with in the study, something I believe that they didn’t take into account, is that we have to ask ourselves.. Is it because they became a fan or follower of a company that they are now more likely to buy/recommend the product or service? OR Is it because they’ve already had a positive interaction and relationship with the company and were already more likely to buy/recommend the company because becoming a fan/follower?
Think of it this way. A person had a negative experience with a company. They were asked to be a fan/follower of the company. Are they really going to be more likely to buy/recommend? I believe the negative experience will probably outweigh the fact that they’ve fanned or followed the company. Or, if a person had no contact with a company or but had contact with its competitors, and the company with no contact invited them to be a fan/follower… would that person who already has loyalty to the competing brand switch just because they’ve suddenly become a fan/follower? Probably not. I believe personal past experience will outweigh. The image of a brand/company will outweigh.
Suppose, however, a person who had no contact with a company or its competing companies. The company who reaches out to them will probably have the upper hand. My point is.. I think there are a lot of other factors to consider, and I think those who participated in the survey are swayed to say yes because they want to support their favorite brands. And by supporting the brands, people will fan/follow them. But the bottom line is, a person who fanned/followed a brand were already planning on buying/recommending that brand.
I’m also not saying that social media isn’t a good thing to participate in. It can be a positive reinforcement for consumers and increase brand loyalty. I’m just saying that I think this study gives more credit to social media than it deserves. Well, if that wasn’t a rant, I don’t know what is.
But thanks for sharing! I love topics that bring good discussions. I anticipate your comments.
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Hi Stephanie,
Thanks for your comment, I totally agree with you, the reserach is very top level, but it shows at least some proof that social media can affect sales, but not HOW. I believe as well that we first have to understand WHAT social media can do for a brand, before we concentrate on HOW to..
Social Media can help brands to improve the sentiment of the audience and with that be a positive reinforcement for consumers and increase brand loyalty, just as you say. That’s where it al starts. Eventually that can affect buying behaviour, but not from day 1. Believe me, I had many clients who really thought so.
Eventually, social media is just another mean where you can reach your audience, the big differnece is that the rules of engagement are different. It’s all about building relationships, just as in real life, something many brands find hard to understand. Explanation I always use: you don’t become friends just for Thanksgiving dinner and Valentines day.
yes rite. this is going to help me with an assignment i have about consumer buyer behaviour for my marketing mng module. correct research. illustrates how marketers cannot predict evryth.this research is an example of social influences of consumers of today
Yes you are right and i am left. This website teachers a lot about consumer eh… Behaviour. I just to tell you that you are beautiful. And ya nice research i am learning a lot.
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[...] A new study with 1,500 consumers shows the influence of social media participation on buying intent: “over 50% of Facebook fans and Twitter followers say they are more likely to buy, recommend than before they were engaged.” [...]
Fans are more willing to buy brands – http://www.viralblog.com/research/social-media-affects-consumer-buying-behavior/