What is that highlighter every Instagramer is talking about these days? What is this gadget lads are going crazy about on YouTube?
It takes just one click and one post to influence consumer decision. Social media has become such a powerful marketing tool that businesses have actually increased their social media marketing budget 70% in the last 5 years.
Let’s take a look at a few factors that make social media a powerful contributor behind the rising epidemic of impulse buying.
Consumers are Lead to Believe it is all About Them
Unlike traditional marketing channels, social media has given consumers a platform where they can take charge and control. Consumers leave review, discuss products and services, and give feedback and suggestions, and the companies respond to that.
While it may all seem more honest and more consumer-centric and you may find it more helpful than TV and print commercials, it is actually fueling the impulses more than anything ever has. Businesses use consumer’s feedback to learn and adopt. They get a better understanding of the way consumer think, and what they want. This gives them an opportunity to present their product/services just the way they want.
Now when consumers see a product just the way they wanted it to be, they are more likely to make a purchase regardless of whether they need it or not.
It Feels Like a More Educated Decision
Social media is the hub of information. For any product you will find online, you will find hundreds and thousands of reviews. Even a single social media post on platforms such as Twitter or Facebook is followed by comments from actual users who don’t hold back from their reviews and opinions. There are many specific groups, pages, and websites dedicated to consumer reviews in specific categories such as food, film, fashion.
An hour of browsing through social network exposes a user to at least one such review post. Such reviews can increase the chances of the user buying the product or utilizing the service up to 38% (varies for each platform). All this because the user feels like they know enough to make a decision they won’t regret.
Online Sales Seem Like a Smarter Way to Save
It is hard to browse social media without getting heed of a huge discount offer going on. You can save 20$ on a product that is usually sold for $40 dollar. Think of it and it is still $20 off your account, but that is not a side you will be able to see in the midst of all the hype created on the social media. Sales have always worked as perfect bait for impulse buyers. They are marketed as offers that will never return and make you feel like this is the best time to buy the product whether it is needed or not.
Lastly, every marketing campaign on social media is now backed by influencers, the social-media celebrities with huge following. With more detailed reviews and opinions, these influencers have the power to impact consumer impulses more than celebrity endorsed advertisements on TV.