The evolving digital technologies presently available on the market continue to force retailers to implement practical solutions for consumer needs. A new survey released December 2013 by the Chicago-based firm, Walker Sands, revealed significant indicators on how retailers can increase potential sales through the different popular social channels.
Figuring out the most profitable avenue and ideal business model gives plenty of opportunity to tap into cost-effective social media channels. The survey compiled by the tech Public Relations (PR) firm and social marketing agency, Walker Sands, gave a solid snapshot of what are the most frequently used social media platforms.
According to the survey, Facebook dominated the pack with 55 percent of consumers engaging with brands on the site. In second place, Twitter followed closely with 21 percent of consumers seeking out brands and Pinterest managed 10 percent.
“When it comes to social we found that every three out five consumers interact with brands in social media. In addition we found that across Facebook, Twitter, Pinterest, even on Google plus consumers are interacting with these brands and using it as a way to either research products or gain insight from their friends,” said Accound Director and Retail Practice Lead Tory Patrick.
Separately, Pinterest is also utilized 17 percent by consumers when they are researching for new products. In addition, YouTube videos have influenced the purchase of a product at least for 53 percent of customers.
The new consumer practice is to search for the best deals available online independently of the platform. Exactly 78 percent of consumers were looking for the best deals or promotions available while 65 percent of consumers used these social channels to learn about the latest news and products.
One substantial change by consumers is the tendency now to purchase directly from the social channel they are on whereas before people visited the retailers original URL. The opportunity is huge for retailers to capture more sales, but it is important to adopt streamline purchasing mechanisms for the different social media marketing channels.
The sample size was 1,046 consumers and it took approximately five days to collect the responses from this detailed survey. http://www.walkersands.com/futureofretail
“I think it is awesome for consumers to kind of get whatever they need and whenever they need something. I think for brands it is really a unique opportunity to step up and make sure that they are consistent across these different social channels. Ensure that those interactions that consumers are having-even if its not on their website specifically-that they are having a great interaction on Facebook or Twitter because that is where they're now shopping,” emphasized Patrick.