Social Media Marketing Research

Social Media Marketing Research

Highlights by David Willden

Social Media Marketing Research

  • 90% of consumers online trust recommendations from people they know; 70% trust opinions of unknown users. (Econsultancy, July 2009)
  • When asked what sources “influence your decision to use or not use a particular company, brand or product” 71% claim reviews from family members or friends exert a “great deal” or “fair amount” of influence. (Harris Interactive, June 2010)
  • Friends play an important role in influencing consumers. Eighty-three percent of online shoppers said they are interested in sharing information about their purchases with people they know, while 74 percent are influenced by the opinions of others in their decision to buy the product in the first place. (Manage Smarter, September 2009)
  • 67% of shoppers spend more online after recommendations from online community of friends. (Internet Retailer, September 2009)
  • 81% of online shoppers read online customer reviews (Sell More Books!, p. 146)
  • Consumer reviews are significantly more trusted — nearly 12 times more — than descriptions that come from manufacturers, according to a survey of US mom Internet users by online video review site EXPO. (eMarketer, February 2010)
  • 61% of people rely on user reviews for product information or research before a buying decision is made. (Razorfish, 2008)
  • In 2010, Pew found that about 58 percent of people do online research before purchasing a particular product, up from 49 percent in 2004.
  • 53% of people on Twitter recommend companies and/or products in their Tweets, with 48% of them delivering on their intention to buy the product. (ROI Research for Performance, June 2010)
  • Facebook, blogs, Twitter and customer reviews are considered the most effective tactics for mobilizing consumers to talk up products online. (Etailing survey of 117 companies, September 2009)
  • 39% of people unfriend people on Facebook who try to sell them something. (http://www.nmincite.com/?p=6051)

Avoid Wasting Time

Social Media Marketing Research

Many people spend a considerable amount of time trying to build fans. They are banking on the equation of “more fans” = “more profits.” The equation doesn’t work. This is a waste of money. You need to target the potential customers of your products. The first more important key is to have a great product that meets important needs. You then need a campaign to help people become aware of, learn about, purchase, and become passionate promoters of your product. You need a campaign that helps people to become aware of and ultimately purchase your product.

Writing to future book authors, J. Steve Miller shared:

Steve cautioned that you need to be clear about your objectives, and to make rational decisions regarding how to best leverage social media (or not) to help you. Here are some basic questions you should ask yourself:

  • Of all the options, what are the effective marketing initiatives for you to accomplish your goal?
  • Will most of your followers be your target group for sales?
  • Do you have the knowledge and skills in your field to be an authority?
  • Are you an innovative thinker?
  • Are you a clear and quick writer?
  • Do you have the time to research and write? (Or have someone that can do it for you?)
  • What makes your content unique?

Set Focused Goals

The best tool to help you clearly think through your goals and how to get there is what is called the” logical framework model.” To learn more about this model and Terry Schmidt – an expert on the topic – visit http://www.strategy-keys.com/competitive-strategy-and-projects.html

Social Media Marketing Research

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Social Media Marketing Research