Picking The Right Social Media Platform

Social media ad spends hit $41.5 billion in 2020, according to a recent report by the Interactive Advertising Bureau which accounts for 30% of all internet ad revenue. As brick-and-mortar shops continue to drop in number or offer fewer items for sale in-store, e-commerce purchasing is continuing to grow at a consistent rate.

Another study of 6000 shoppers found that two-thirds of shoppers today use social media as part of their shopping strategy, be it research, cost comparison, or influencer recommendations. One-third of purchasers’ decisions will be influenced by recommendations from influence.

The differences in which generations prefer which social media platform for shopping varies greatly by age. Boomers account for just 23% of the shoppers on social media while 77% of millennials and GenZ regularly use social for shopping. Younger shoppers are looking to Facebook and prefer Snapchat, TikTok, and Instagram.

How Shoppers Use Social Media In Their Journey To Purchasing

When beginning the shopping journey social media platforms like YouTube, Facebook and Pinterest seem to have the most information regarding facts and inspiring purchases. YouTube offers product reviews and more in-depth analyses of products to help support the decision to make a purchase. Consumers can see what people “like” and “don’t like” about a particular product. Another interesting find from the research was the intent purchase grows closer consumers will reach out to other social media users looking for their opinion or validation to purchase.

What does this mean for your business?

• • Do the research to find out which social media platforms are right for your businesses to connect with consumers in a meaningful way.
  • Produce shareable content that your audience wants to see, share, and will engage with.  All social media platforms make sharing this very easy.
  • Keep your content relevant to your audience so shoppers will continue to engage long after making a purchase.
  • Make the investment in video to help showcase product features and benefits
  • When the timing is right reach out to influencers that will help connect consumers with your brand