Social Media Drives Sales

Social media drives sales, and the best way to see the value of social media in the sales process is to measure how much consumers use it to discover, research, compare, and share their purchases.  Some interesting findings:

  1. 4 in 10 social media users have bought something either online or in-store after sharing on Twitter, Facebook or Pinterest.
  2. Half of social media related purchasing takes place within 1 week of sharing or favouriting the item.
  3. 68% of Facebook users  are “lurkers”, posting only occasionally, and looking at what others recommend or are talking about

There has been a lot of concern around “showrooming”, where consumers shop in a store and then search online to buy the item at a cheaper price. However:

“Our research suggests that the threat is overrated. We asked nearly 3,000 social media users in North America and the UK about their shopping habits, and only 26% reported regularly engaging in showrooming. But 41% said they practice what we call “reverse showrooming”—browsing online and then purchasing in stores. Pinterest is an especially popular driver of in-store sales: 21% of the Pinterest users we surveyed said that they bought an item in-store after pinning, repinning, or liking it, and 36% of users under 35 said they had done so. - Vision Statement: How Pinterest Puts People in Stores” – Harvard Business Review

 Charts from research done by Vision Critical provide more insight on the influence of social:

Social Media Engagement: Purchases

Social Media Engagement: Purchases

Source: How Social Media Drives Your Customers’ Purchasing Decisions

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