According to a report from Sprout Social, consumer purchase behavior is rapidly evolving, with more consumers turning to online buying in the current climate. As a result, brands’ online presence and social media strategies are having a more direct impact on business.
“While social media is a powerful channel for brand awareness, it’s also a proven business accelerator,” says Jamie Giplin, chief marketing officer, Sprout Social. “In fact, a strong brand presence on social media can drive consumers to purchase and give brands a leg up over their closest competitors. This is especially true in today's environment. Brands who fail to stand out on social or lack the ability to analyze social data are missing a big business opportunity, which can be crucial for future success.”
The report concluded that nearly nine-in-10 consumers will buy products from a brand they follow on social media. The survey also shows that out of consumers who follow a brand on social media, 75 percent will increase their spending with that brand, a 12 percent increase, year-over-year.
For more on the role of social data in driving business decisions and the relationship between marketers and consumers on social, download the full data report here.