Social Media and Consumer Behavior

Social Media is defined as web based media through which communication occurs.

Social networks are consumers connecting with one another based on common interests, associations, or goals.

Social networking websites are websites that facilitates online social networking.

Mobile applications(most commonly known a Apps) refers to specific types of software that run on various devices like smartphones, tablets, and other computer-based tools.

socialmedia[Image source:The Odyssey Online]

In today’s world, social media has given plenty of opportunities to consumers in adapting different aspects in life. Facebook, Twitter and Instagram have played significant roles in expanding consumers’ online purchases. This blog aims to understand which consumers are mostly influenced by online purchasing, reasons that tempt consumer to purchase online, types of products that are mostly purchased using Social Media and types of Social Media that are mostly used by consumers. Consumers today are progressively utilizing technology and particularly Social Media as an effective tool in their online shopping process. This process can be defined as an electronic process that allows consumers to deal with business people and meet their purchases’ needs. Social Media have played important role in spreading this phenomenon faster. Interacting with consumers on Social Media may result in increasing potential consumers and the probability of turning potential consumers into loyal consumers.

Social Media

Social Media plays a huge factor in consumer behavior. It influences viewers on how to behave and what to buy. They give opinions, reviews, and shapes the consumers view and behavior in a certain way. Those who use social media develop a form of social power over others, which differs based on who you look to and listen. For example, on YouTube, some popular YouTube stars post videos that are solely based on reviewing products they have tried, and give their honest opinion, where some are  professionals in the industry the comment on.

YouTube Made Me Do It/Buy It

A couple years ago, a craze around  a tag went through YouTube called “YouTube Made Me Do It/Buy It,.” Particularly, a majority of YouTube makeup artists were asked by their viewers to do the tag, and compile all the products that other YouTube artists, or the viewers, themselves, have suggested for them to buy. In the video, they would talk about who influenced them, and why they felt the urge to buy a certain product. Each of the videos would showcase their influences and the power social media has over their buyer behavior. YouTube has become a common place of receiving input on trends and deals. It plays a huge factor to the consumers’ susceptibility to interpersonal influence.

Social Networks(Ads in Facebook)

Advertising on Facebook has revolutionized the way buyers purchase what they want, need, and can. In order for this to happen, the process has to start somewhere. Advertisers have the option to modify their preferences through an option box. They can select the many different places in which they want to advertise, basic demographic information (e.g. gender, age, etc.), and advanced information (e.g. workplace, education). Preferences have direct relationship with prospective target population: the less the preferences, the bigger the population, and vice versa for these two factors.

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A decade has passed since the idea of advertising on Facebook was brought to life. Throughout this phase of evolution, users have started to drift away from beholding advertisements in their home computers and towards mobile advertising. But, this is not to say that desktop advertising has lost its touch. In fact, home computer advertising is still essential for some elements, namely news feeds, which are dominant on desktop despite the addition of user preferences.

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Social Networking websites (LinkedIn & DeviantArt)

Comparing to social media, social networks is a more two-way communication based service. It requires engagement from both sides of the sharer and the viewer. Social Networking does not only impacted the way we communicate in friends making and relationships, it also helps in job-seeking and career networking. LinkedIn is one of the most popular business-orientated social networking service web. It has more than 400 million acquired users in more than 200 countries.

Even though LinkedIn may not be the most common way in hiring, it builds a platform between employers and employees accessible to each other. It is also a very good start to build your online resume and portfolio. On the other side, one can also get know about their potential employees/ employers a little better.

DeviantArt is another example of a social community site with a shared interest. It is a social networking website for artists and illustrators to share their work and connect with each others. With the rising of other website like Facebook, the sites is less influential now as the users may share their work on their personal site. But the site still have a large number of active users and they sometimes manage to hold events like art shows and portfolio tours.

Mobile Applications

Out of personal experience, I’ve come to realize that my overall favorite mobile application is a banking app. I bank with Union Bank, so I have their application. These applications make things much more easy and accessible. I love being able to view my accounts easily through the app, and also being able to transfer money from one account to the other without actually having to make a visit to the bank. They even have this weird thing now where you can take a picture of your check through the app, and it will process through your money into your account that way. To me, that’s super weird, yet super convenient. Now the only thing I really have to go to the bank for is to deposit or withdraw actual cash. In a way maybe this app can make people more lazy lol..but really, when used the right way they are helpful. People who like to manage their money have an easy way to access their accounts and make sure they aren’t over spending. Also, the easier access promotes in more safety. You can view your accounts whenever to make sure you’re not a victim of fraud.

 

 

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