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Social Media Impact on Consumer Behavior With an estimated one million members, the social media websites have become a platform for companies and consumers to interact with each other in a lucid manner. The impact of media on consumer behavior has been massive, and this is one of the main reasons why business houses are using to market their products extensively. The advent of social networks has opened a new marketing avenue for businesses.
The publicity of the traditional “face-to-mouth” has been replaced by the “mouth-to-web ‘, as consumers are increasingly referring to the sites of social media before making a purchase, influencing heavily on the buying behavior. Although most companies these days have an official website has complete information about their products, consumers tend to relate to a company after reading reviews and comments from existing customers. Before buying a product, every consumer wants to make sure the product is the best in its class, offering good value for money.
Advertising does not always give a good idea, because every company claims the supremacy of their product. This is where social media plays an important role in the definition of consumer behavior. People who have used the product describe their experience ??? their strengths, weaknesses, etc, and this helps in the dissemination of information. People are more likely to trust those who give an impartial account a product instead of a celebrity being paid to endorse the product. Social media allows people from around the world to form a community of consumers, giving them the power to harm or advertisement of a company.
Social influences on the buying behavior of consumers Several industry bigwigs have conducted research and surveys to determine the impact of media on consumer behavior, and found that consumers would like to have an interactive relationship with a company, so can easily pass on comments, suggestions and complaints. Given the nature of social media, anything ??? positive or negative ??? is being said about your product or company is easily accessible to a global community of consumers, which essentially means that your business and your marketing strategy can be stop or damaged within hours.
Therefore, if Mr. A was thinking of buying your product, and he happened to read some not so good news for your company or product, most likely you can throw in the planning and review of its decision, once again, while a positive review could have enhanced the chances of buying the product. Social media has opened a new opportunity for both businesses and consumers who interact with each other on a real time basis. Therefore, the onus is on the corporate houses to provide a strategy for them to make their presence felt in the social networking scene.
Some companies have taken advantage, but to be successful, it is essential that your site is easily accessible. There are a lot of information in a social networking site, and if their service is not up to the mark, you can easily be outside the public eye. It is very important that your company has a formal social media, with a workforce designed to ensure smooth operation. Not only help in building customer relationships, but also in introducing the brand to potential consumers.