Marketing 4 min read

How Social Media Affects Consumer Buying Behavior

A new marketing study conducted by Curalate has provided us valuable insights into social media's influence on consumer buying behavior. In this article, we highlighted some of the things you need to consider to improve your marketing strategy.

Image Credit: Pixabay

Image Credit: Pixabay

Search marketers have analyzed the various ways that social media affects consumer buying behavior. Data collected vary from consumer engagement with the brand to when the consumer makes the purchase.

However, few studies have explored the series of events that occurs on social media platforms before the purchase – and after. In other words, the question: “what influences consumer’s buying behavior on social media” has largely remained a mystery – until now.

Curalate, a social commerce company in the United States, intends to release data that addresses this topic. The paper details how micro-influencers, social media, and other factors affect consumer buying behavior.

For their study, the company surveyed over 1,000 consumers in the United States in March. Their goal was simple: to find out how consumers discover new products, what influences their purchases as well as their timeline for buying.

In a statement, CEO and co-founder of Curalate, Apu Gupta said:

“E-commerce [sites] focus on people who know what they’re looking for rather than those looking for inspiration.”

Social Media’s Impact on Consumer Buying Behavior

Here is everything you should know before employing this marketing strategy.

Product Discovery on Social Media is on the Rise

Back in 2017, 58 percent of consumers discovered a product that interested them on one social media platform or another. Now the number has increased even more.

According to the latest survey, 80 percent of consumers now find products that they intend to buy on the platform.

Product discovery on Facebook increased from 52 percent in the previous year to its current 70 percent. Also, Pinterest rose from 22 percent to 28 percent.

However, the social media platform that experienced the most significant surge in product discovery is Instagram.

In 2017, only about 18 percent of consumers noted a product they wanted to buy on Instagram. The latest survey suggests that the number has jumped to 48 percent.

So, what factors increase social discovery, you ask?

Read More: The 10 Best Social Media Campaign Strategies For Small Businesses

Social Images Lead to Product Discovery

According to Curalate’s survey, images found on social media platforms often lead to product discovery on a brand’s website.

About 50 percent of consumers confessed that seeing pictures from a brand’s Instagram feed helped them discover a new product. Aside from increasing the chance of product discovery, social media images also increase engagement.

Fifty-two percent of the consumers said that they spend more time on the brand’s website when they come across social images. After seeing the images, the next step is to make purchases, right?

That’s not always the case.

Read More: Keep Your Brand Relevant With These Top 5 UI Design Trends

Consumers Don’t Always Make Instant Purchases

After discovering a product on social media platforms, only about 19 percent of consumers make instant purchases. Another 47 percent buy the product online at a later date.

Also, 19 percent of the consumers said that they visit a physical store to make their purchase. This raises an essential question.

When is the best time to place your ad on social media?

Never Post Your Ads on Sundays!

Here is the thing, the best time to post your ad depends on the product.

According to researchers from Sprout Social, Wednesday is the best day to post your ad on most social media platforms. These include Facebook, Twitter, Instagram, and LinkedIn.

For Facebook, the survey revealed that the best time is between 11 a.m and 1 p.m. On the other hand, the best time to post on Instagram are 11 a.m on Wednesday and between 10 a.m and 11 a.m on Friday.

The Sprout Social report suggests that Facebook users have the least engagement with brands on Sundays. This is especially true in the early morning and late evenings, before 7 a.m and after 5 p.m.

Read More: Social Listening: What it is and Why it Matters in Your Marketing Strategy

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Sumbo Bello

Sumbo Bello is a creative writer who enjoys creating data-driven content for news sites. In his spare time, he plays basketball and listens to Coldplay.

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