The social media has influenced the buying behavior of customers and is the backbone of any business to grow and generate revenue with technological advancements. As per reports, the users of social media were 2.46 billion in 2017 and will be 2.77 billion by 2019 on a growth rate of 80.88%. On average, the internet has 4.2 billion users and 3.03 billion of the population has at least 5.05 of any social media accounts today. Social Media is an interconnection of machines which allows devices to communicate. Social Media comprises of “computer-mediated technologies” and is a platform for people to share and exchange ideas and information.
Everything is recorded whenever a person uses its social media account. Whatever activities a person does on its device is transformed into data by the social media company and later sold to the firms as per the product segmentation. 45% of the population’s buying behavior is influenced by posts, comments, and updates of the other person.
Have you ever noticed what you was earlier searching on the internet today now tops the list on your social media account timeline or whenever you start surfing? Social media is the fulcrum between the buying decision and buying behavior of the consumer. Be it any networking site, everything is recorded and used as the data to transform into information for the customized reports for companies.
Ever purchased something from an online platform? After a month or two, when a person goes back to that site, the same thing is being shown first or in variants whether you want it or not. So, this is how a person’s data is recorded and used to attract consumers to buy that product again.
The social media today is not just used as a way of interacting with our loved and known ones, rather it is highly concerned with the business administration for the growth and development of business. In fact, be it product or service, advertise it on social media and you are done! Digital marketing has changed the way of advertising and selling concept. You can get everything online with just a click.
The visibility concept too has changed with the rapid advancement in the technology sector. Social media is a highly recognized way today for marketing and market research.
How market research? As discussed, everything is recorded once a person logs in to a social media account or access the internet. the data collected in the market research.
– what a consumer is looking for?
– which advertisement attracted him/her the most?
– on which product or ad he /she clicks.
– what is the minimum number of times a consumer comes back to a post?
– The most liked posts.
How marketing? Advertisement, Brand Promotion, Online Marketing are all part of Digital Marketing. Once a consumer is attracted or has clicked on an ad, the chances of buying are increased by 45%.
Social Media has highly influenced the lifestyle of a person in many ways. From the buying behavior to buying decision, everything a person does, phone calls, text messages everything is recorded.