links for 07/16/2015

  • (via @jeromebailly)
    * Social recommendations induced an average of 26 percent of purchases across all product categories, according to our data. That’s substantially higher than the 10 to 15 percent others have estimated
    * Roughly two-thirds of the impact was direct; that is, recommendations played a critical role at the point of purchase
    * The remaining third was indirect: social media had an effect at earlier decision-journey touch points

    * In 2014, consumers made 10 percent more purchases on the back of social-media recommendations than they had in 2013

    * Consumers access social media to very different degrees in different product categories.

    ** At the low end, only about 15 percent of our respondents reported using social media in choosing utility services.
    ** For other categories, such as travel, investment services, and over-the-counter drugs, 40 to 50 percent of consumers looked to social recommendations.

    * Product categories tend to have their own discrete groups of influencers

    * A first-time purchaser is roughly 50 percent more likely to turn to social media than a repeat buyer

    * Half of the recommendations were made offline—in person or by phone
    * Offline conversations were up to 40 percent more likely than digital interactions to influence purchase decisions of products such as insurance or utilities

    * 10 percent of the active influencers accounted for 24 percent of the total recommendations
    * shoes and clothing: 5 percent of the recommenders accounted for 45 percent of the social influence generated

    * Companies that spend effectively on search-engine optimization (to move their product mentions to the top of search results) can expect to benefit from a greater social-media impact
    * Television advertising tends to act as a substitute for social media rather than complementing it. Relatively few customers were prompted to seek out social influences after viewing a TV spot

    tags: media social media mckinsey influence influencers trends 2015

Posted from Diigo. The rest of my favorite links are here.

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