The modern consumer uses several methods to influence their buying trend considering precautions before spending their hard-earned cash. Years ago customer based purchases on tradition and availability. Now not only are they getting advice from friends and family about products, they’re researching deeper for the good, bad and ugly.
1. Social Media
The power of numbers in social media can impact profits and losses in business. If your account is not engaging, polished and conducive to a buying experience, your potential client will lose interest. Social media is no longer beach vacation photos and laugh-worthy comments. It has transformed into e-commerce platforms where organizations, large and small can impact thousands 24/7. The chances of your customer having a Facebook profile is notably high. Customers feel entitled to have information at their fingertips. 57% of consumers say they’d be somewhat or very influenced to think more highly of a business after seeing positive comments or praise online, and 16% say they only share positive reviews on social media (Direct Marketing).
Online reviews give buyers the opportunity to make an educated decision before monetary investment. Opinions from past customers make or break the market. Consumers believe companies reputable and find trust in a five-star rating. A powerhouse such as Amazon drive sales growth based on reviews and have made billions for over two decades. 92% of consumers now read online reviews vs. 88% in 2014 (Vendasta). As both positive and negative, reviews take the guesswork out of product usefulness. It allows the customer space to form their own judgment.
3. Word of Mouth
Word of mouth is still the most popular method of swaying shoppers. Consumers are always seeking a bargain and value. Friends and family will give their opinions straight with no chaser. Topics such as price, features and longevity can in less than five-minutes. According to the Nielsen Global Survey of New Product Purchase Sentiment 92% of consumers’ trust recommendations from other people—even if they don’t know them personally—over promotional content that comes directly from brands.
Consumers select what change emotions and meet needs. The marketplace has become a smorgasbord of everything we can imagine plus more. Making sure that your business is social and has service-first oriented will have a greater impact on the customers’ buying decision. It helps them shop and use their power as a consumer.
Stephanie Feggins is a freelance writer who specializes in business, entertainment and lifestyle.
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