Have you ever noticed what you were earlier searching on the internet today now tops the list on your social media timeline whenever you start surfing? Social Media is the fulcrum between the buying decision and buying behavior of the consumer. Be it any networking site everything is recorded and used as the data to transform into information for the customized reports for companies.
As per the reports, the users of social media were 2.46 billion in 2017 and are approximately 2.77 billion this year with a growth rate of 80.88%. On average, the internet has 4.2 billion users and 3.03 billion of the population has at least 5.05 of any social media accounts today. Social Meinterconnection of machines which allows devices to communicate. Social Media is “computer-mediated technologies” a platform for people to share and exchange ideas and information.
The social media has influenced the buying behavior of customers and is the backbone of any business to grow and generate revenue with the help of technological advancements. Everything is recorded whenever a person uses its social media account. Whatever activities a person does on its device is transformed into data by the social media company and later sold to the firms as per the product segmentation. Ever purchased something from an online platform? After a month or two, when a person goes back to that site, the same thing is being shown first or invariants whether you are looking for it, or not. This is how a person’s data is recorded and used to attract consumers to buy that product again.
The social media today is not just used as a way of interacting with our loved and known ones rather it is highly concerned with the business administration for the growth and development of a business. Want to sell something… be it product or service advertise it on social media and you are done! Digital Marketing has changed the way of advertising and selling concepts. You can get everything online with just a click. Furthermore, the visibility concept too has changed with the rapid advancement in the technology sector. Social Media is a highly recognized way today for marketing and market research.
How market research? As discussed, everything is recorded when a person logs in to his/her social media accounts or access the internet, the data collected in the market research.
– What a consumer is looking for an advertisement attracted him/her the most?
– Which product or ad has the maximum number of clicks?
– What is the minimum number of times a consumer comes back to a post?
– The most liked posts through his social media accounts.
Advertisement, brand promotion, online marketing are all part of digital marketing. Once a customer is attracted or has clicked on an ad, the chances of buying are increased by 45%. Moreover, social media has highly influenced the lifestyle of a person in many ways. From the buying behavior to buying decisions, everything a person does such as phone calls, text messages, and internet surfing and browsing everything is recorded.