Impact of social media on consumer behavior

Impact of social media on consumer behavior

Megaphone - Impact of social media on consumer behavior

The advent of social media has opened a new avenue of marketing for corporations. The traditional “word-of-mouth” publicity has been replaced by the “word-of-web”, as consumers are increasingly referring to social media sites before making a purchase, greatly influencing buying behavior.

Though most companies these days have an official website which has complete information about their products, consumers usually engage with a company after reading reviews and feedback from existing customers.

Before buying a product, every consumer wants to make sure that the product is the best in its class, and offers good value for money. This is where social media plays an important part in defining consumer behavior. People who have already used the product describe their experience – its strengths, weaknesses etc., and this helps in disseminating information.

Social proof is the new currency of credibility:

People are more likely to trust those who give an impartial account of a product rather than a celebrity who is paid to endorse the product. Social media enables people from all over the world to form a community of consumers, giving them the power to harm or herald a company.

The buying decision journey has changed

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About The Author

Torben Rick

Experienced senior executive, both at a strategic and operational level, with strong track record in developing, driving and managing business improvement, development and change management. International experience from management positions in Denmark, Germany and Switzerland.

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