At a time when social media is exploding in popularity and businesses are rushing to build a social marketing campaign, it comes as no surprise that a new report announced that Facebook and social media marketing will account for twenty-seven percent of all online purchases. In addition, ten percent of the respondents in the study stated that their shopping would be “in addition” to purchases already planned.
Privacy Concerns Deter Shopping
However, although the trend toward social “buying” is growing, there is still a big hurdle to overcome. A whopping seventy-three percent of online shoppers said they would not purchase items through social sites because of their concerns for privacy and security.
Marketing and Traffic Funnel
Companies focus on converting fans to buyers, or turning “likes” into “buys.”
- Among social users, seventy-one percent said that “liking” a company’s Facebook fan page has little or no impact on their likelihood to purchase products or services from that company.
- Commerce resulting from social marketing will have the biggest impact at the lower end of the funnel, in the consideration and conversion stages.
- An important goal for companies is to understand how to use social media in each of these stages.
Have you purchased anything through Facebook yet and if so, what motivated you to do so?
The impact that Facebook and Twitter have on businesses has only begun. The power of social as a transmission channel for commercial messages is immense. It is unlikely to go away any time soon. It should, however, be considered that although these mediums will unlikely go away, it is possible that there could be a shift from platform to platform.
Finally, business marketers will need to learn smarter ways to to motivate consumers. Possibly marketers can affect consumers’ attitudes, behaviors, and continued sharing by members of a person’s social networking graph. By motivating consumers, their online shopping will evolve, in social networks, or in brick and mortar stores.
- Social networks will begin to look less social and feel more exclusive.
- Company social media campaigns will evolve to include customer support on Twitter.
- Social networks will become more serious in business.
- Social commerce will evolve into “group buying” and “Facebook commerce”. Consumers will move toward leveraging their social circle to shop and share their every purchase with their friends.