“I will not be concerned at other men’s not knowing me; I will be concerned at my own want of ability.” – confucius
Who knew? It turns out that people engage with their favorite brands on Facebook far more than on any other social network!
Think back at the last time you shared your views or opinions about a certain product or service with someone… did you have recommendations for your friends about the product or service? Did you try to convince them that the choice you made is the best one and influence their buying decisions?.
We thrive on sharing our thought and experiences on social media every day. At a park, a restaurant, on public transport or even crossing the road, there’s at least 10 people with their heads buried in their phones with a smirk on their face or typing away furiously like their life depended on it…most likely watching a dog dressed in suit and tie, eating spaghetti with a fork and knife or outraged by a celebrity who’s wearing a fur coat or you’ve just found out that your favorite brand of makeup is tested on animals!
Facebook is also starting to be seen as influencing consumer decisions as people notice online comments by friends on Facebook and make purchases based on this sharing
A study by Bughin, Doogan, and Vetvik (2010) suggest that “word of mouth is the primary factor behind 20 to 50% of all purchasing decisions…”
Are consumer purchases on Facebook likely to be less on convenience purchases and more on shopping and specialty purchases? Would anyone share their thoughts about Tim Tams or about their favorite flavor of Gatorade drink? Yeah! I think they would! I’ve seen people like the Tim Tam page and their friends gasp in despair for missing the Tim Tam promotion van on their special edition mini pack range. Fellow ‘Gatorades’ share their gym work outs on Facebook, as well as shares Gatorade Facebook pages with their gym buddies!
Considering conformity vs. individuality it can be argued that as adults we seek products that set us apart from the rest and pride ourselves on individuality, but many still seek approval and recognition from others around them, thus conformity in our purchases are likely to exist in purchasing decisions in one’s lifetime.
According to research of Keller & Libai, 2009, social talk generates over 3.3 billion brand impressions each day.With social media like Facebook, consumers are able to use it as a single platform for their pre-purchase product identification and research, narrow on purchase consideration and decide on purchasing channel and write reviews and generate word of mouth in post purchase phase for friends and other users.
This superior mechanism of word of mouth has undoubtedly strengthened the power of the consumer. What do you think?
Why do you think an individual buys a product? To fulfill a need? To be likable and feel belonged in a social group? To join an elite club or reach a social status?
Why would someone fill a customer satisfaction survey, write a review or like a product’s Facebook page? Is it simply for the enjoyment of the social interaction and experience?