This brilliant infographic by Symphony Teleca entitled “The Meaning of Like”, illustrates how mobile devices and real-time access to review sites and social networks impact consumers’ buying decisions and overall retail experience.
Social networks influence buying behavior
The infographic clearly shows that consumers rely on peer recommendations: Links to user-generated content on social networks (Facebook, Twitter, Google +, Pinterest) make up a quarter of the search results for the top 20 brands in the world. In response to that growing number, 85 % of people have already anticipated changes in their buying behavior. Customer reviews, questions and answers, internet forums and user-generated videos are the social and community tools that influence consumers the most.
Consumers go mobile
In addition, social media continues to reshape the relationship between brands and customers. Half of the buyers consider social media sites as valuable and credible resources for researching products and services. Furthermore, because The SoLoMo Revolution is happening and running with full power, it is important that brands acknowledge the fact that 64 % of smartphone users use their devices to shop online. More than 167 million people will shop online this year, spending an average of $1,800 per person, according to the infographic.
Transform the retail experience
As a result, review sites, social networking and mobile devices produce an incredible amount of data, which, if analyzed properly and in real-time, can significantly transform the retail experience and generate more targeted sales. One third of smartphone users have shared their location with a retail company using a check-in-service like Foursquare.
By utilizing information obtained by social networks and analyzing the mountains of data traced from mobile devices, retailers can better understand consumer spending patterns, address potential needs and improve sales campaign targeting.
Do you agree that your customers’ buying behavior is being influenced by interacting in social networks via mobile devices? If yes – are you collecting and analyzing the data left from these interactions?