Social Media helps drive purchases online – Fact: “The research by Payment provider Sage Pay (PSP) has revealed that whereas 7% of all visitors to an online store make a purchase, a significantly higher 71% of visitors initiated via social media will click their way to the transaction section” (Marketing Magazine 28th June 2010)
43% of businesses use Social Media with the objective of improving sales but leveraging the power of social media for businesses hinges on the engagement factor. Consumers now expect to have a two-way engagement with a company through social media and the more engaged your fans / followers are the higher the chances are that your messages will be received and digested.
Some Of The Social Tools:
Using Facebook you are able to create bespoke page tabs with branding, sign ups, customer support, online shops and pretty much anything else your coding skills will allow. Then by creating incentives for people to engage with you (competitions, Q&As, discounts, free items) you start building a community of fans/followers. These are the people who can provide you with valuable feedback on services/products, share your information with their friends and eventually convert into sales.
By employing the same techniques to Twitter you can further increase your reach. A Penn State University study found that 20% of all Tweets contain a reference to a product or brand. so if you can build a social community via Twitter and provide regular, interesting and engaging information you are likely to increase brand exposure and we all know what that can lead to… more sales!
Lets not forget about the video social power-house that is YouTube. According to Compete.com, YouTube is the Worlds fourth largest website and comScore stats confirmed that YouTube receives more search queries per month than Bing or Yahoo! Being able to show people what a product does or even to grab people’s attention through ‘viral’ videos can seriously boost your online presence and reputation, eventually leading to an increase in sales. Take a look at the boost in sales Wonderful Pistachios saw after their unique use of marketing via YouTube.
Just one of the Wonderful Pistachios YouTube videos:
It’s Not Just About Social:
Although Social Media can help drive purchases, please do not think that just using Social Media you will automatically see a dramatic increase in your sales. Social Media is just one part of the overall Digital Marketing mix. Rich Media Advertising, SEO, PPC, Mobile Marketing, Mobile Apps, Conversion Optimisation, Email Marketing etc all have a part to play in increasing business. Used together and used properly you have a fantastic business opportunity.
Using the correct tools together in the correct way is the key!
Share your experience with us:
Do you use Social Media to help drive purchases? If so, what has your success been so far? Leave your comments below and share your experience with us.