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Social Media's Influence in the Consumer Buying ProcessNot only is social media rocking the marketing world in terms of brand building and growing awareness, but according to a recent report by eMarketer, social media has a strong influence on consumers in the purchase funnel.74% of consumers agree or strongly agree that they choose a product based on information they found online; specifically, customer service anecdotes.  The source of this information varies from search engines to blogs and discussion forums, among other user-generated content web sites.  Even more interesting is the data showing exactly when consumers are looking for this information. The majority are doing social media research during early shopping research or when trying to decide between a few different products. This information shows how important brand building in the social media marketplace really is, especially for consumer brands looking to drive sales and e-commerce.  Source: eMarketer Report, 2008 Labels: E-commerce, Social Media Top 10 Online Retailers by Conversion Rate: March 2008 Labels: E-commerce The Growing Influences of Online Social Shoppers   Source: B to B magazine Labels: E-commerce Six of Ten Wealthy Online Consumers Participate in Social NetworksThe number of wealthy* online consumers involved in social networking activities has dramatically increased from 27% in 2007 to 60% in 2008. At the same time, the number of over-55-year-old wealthy consumers in social networks jumped 5x from 9.8% to 49%. *"Wealthy" was defined in this study as an average income of $287K and average net worth of $2.1 millionSource: MarketingCharts, The Luxury Institute, 2008. Labels: E-commerce, Social Media New Media An Important Place To Be SeenWhile many traditional media are seeing up to double digit losses over the past year, new media is rapidly growing and becoming influential on consumers. Consider the below study by BIGresearch Simultaneous Media, on purchase influence for electronics, a hot market of high-involvement purchases. Labels: E-commerce, New Media, Online Media How Consumers Spend Time Online Labels: E-commerce, Marketing Trends, Search Engine Marketing How Do Consumers Select Online Retail Sites?According to Nielsen, 60% of consumers say they like to stick with familiar sites, and they mostly purchase from the same site. 30-35% choose shopping sites based on general web surfing, search engines, or special offers.
Source: MarketingCharts, 2008 Labels: E-commerce, Retail, Search Engine Marketing Online Shopping up 40% in 2 YearsAccording to the recent Nielsen Global Online Survey on online shopping habits, more than 85% of the world's online population, amounting to 875 million consumers, has used the internet to make a purchase. Two years ago, according to this same survey, the number of consumers who had purchased online was only 10% of the world's internet population (627 million), representing a 40% overall increase. Source: MarketingCharts, 2008 Labels: E-commerce, Internet Growth Web 2.0According to a Scene7 study of companies that sell products or services online, "half of online businesses plan to add 'Web 2.0' online capabilities to their sites within the next six months, and over 93% intend to do so within the year." The strongest growth is expected to be seen in:
Source: Scene7 Web 2.0 Experiences 2008 and Beyond Survey, 2008 Labels: E-commerce, Internet Future, Internet Statistics, New Technology, Web 2.0 |
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