How brands are promoting social media and influence buyers decision
Companies throughout the world are constantly seeking new ways to reach consumers. Just a few decades ago, television and print advertising were the fundamental components of marketing strategies. In the current era, these traditional marketing streams are just a small segment of the varied
approaches used to market and brand products. The increasing focus on social media shaped the state of the art advertising and shifted the way companies interact with their target groups. As a result, the effective use of social media has become an essential part of creating and maintaining a competitive advantage. Subsequently, companies now place considerable value on the way in which social media can be used to shape consumer brand perception and influence their buying intention. Companies integrating a strategic approach to the use of social media will have advantages over those that do not. In assessing the impacts of social media on branding and marketing approaches, an exploration of the existing literature on social media use and brand perception can help identify emerging and successful strategies for improving consumer engagement through social media.
The Impact of Social Media on Consumer Buying Intention
With these facts in mind, understanding how consumer buying behavior works can help establish your best practices before investing in social media advertising and other marketing tactics.
Consumer buying behavior is the study of how individuals and organizations select and use products and services. This primarily focuses on psychology, motivations, and behaviors, such as how people choose between brands, how they research and shop, and how marketing campaigns can be improved so brands can effectively influence them.
Three factors can influence consumer buying behavior: personal, psychological, and social. Personal factors deal with an individual’s interests and opinions, which are affected by their demographics.
Psychological factors are based on their perceptions and attitudes, including their ability to comprehend information and how they see their needs. Finally, social factors are made up of one’s peer groups, socioeconomic classes, and even social media.
One of the reasons that the Internet in general and social media, in particular, are so effective for consumers is that it’s fast. Shoppers can easily look up your hours of operation, your address and your online shopping opportunities while they are on the train or standing in line at the coffee shop. These consumers are not going to scroll page after page after page to find you or a more positive review of your business. The more fresh content posted daily, the better chance a business has of getting on the
first page of a search. Social media sites provide a means to keep content fresh, alive and active.
Social media gives consumers a new and global “fence” over which they can talk to their friends. According to marketing consultants at The Conversation Group, 65 percent of consumers who receive a recommendation from a contact on their social media sites have purchased a product that was recommended to them. Friends and family are making those recommendations, too. Nearly 93 percent of social media users have either made or received a recommendation for a product or service.