Erik Qualman is at it again, with an updated 2014 installment of his #Socialnomics video (see below). If you are still unsure of the impact social can have on your company, consider these statistics from the video:
- “53% of people on twitter recommend products in their tweets”
- “93% of shoppers’ buying decisions are influenced by social media”
- “90% of consumers trust peer recommendations only 14% trust advertisements”
Whether or not your company is using social networks, your customers are — in order to inform their purchase decisions and opinions about your brand. Being active on social media gives companies an opportunity to listen, connect and contribute to the opinions consumers form of their products. Or as Erik states “Goodbye 4Ps – hello 4 C’s of digital: creating, curating, connecting culture”.
What do you think?