What influence do social networks have on online sales in 2018? Once again, the well-known and respected IAB Annual Social Media Study, produced by Elogia, has been released. This is the ninth edition. Among other things, the study answers that very question. Very interesting for brands that want to boost their online store through social media but still have doubts.
To be or not to be on social media? That is the question.
I hope that after reading this post you’ll have no doubts.
Can a good social media strategy help me sell more?
The study’s data gives a clear answer. A resounding yes, but with nuances.
Simply having active social media accounts won’t make you sell more:
- Design a strategy that avoids plain, hard product selling
- Define your niche within the social network to reach your potential audience
Let me get to the point before I digress. We’ll talk about the social media strategy you should follow to boost online sales another day.
There’s plenty of interesting data in the IAB Annual Social Media Study, but I’ll focus on the relationship between brands and social media:
- 81% of users follow brands on social media
- 27% of users say brands with a social media profile inspire more trust
- 8 out of 10 users follow brands on social media
- 38% comment, share opinions or ask questions about their purchases on social media
Influencers are also very much a reality now, followed by 72% of users, with Facebook and Instagram being the networks where influencers are followed most. And most notably: the share of users who follow influencers rises to 92% among young people aged 16 to 23.
The influence of social media on the buying process
Now for one of the topics you’re surely most interested in. If you’re on social media, it’s to sell more — let’s be honest. So you surely want to know whether your actions really influence users’ buying decisions. The influence of social media on online sales is clear, and here’s the answer in data:
- 57% of users usually check a social network before buying online
- 38% comment, ask questions or talk about their purchases on social media
- 32% respond positively to the ads they’re shown on social media
50% of users say social media has influenced their buying process at some point.
Who uses social media and how do they behave?
Not everyone in Spain uses social media, but 25.5 million people is a lot, and you’d surely love them to be your customers. Shall we dig into the details to learn a bit more about who uses social media and how they act there?
25.5 million people in Spain use social media.
According to the study, 51% of users are women and 49% men, while the average user age is 38.4; 74% are employed and 46% have a university degree.
As for time spent on social media each day, the average reaches 58 minutes. Women and young people (aged 16 to 30) spend the most time, at over an hour a day.
Looking at devices, mobile knocks the computer off the top spot and, for the first time, is king when it comes to browsing social media, as Nielsen already anticipated in 2014 in its report The Digital Consumer.
Finally, the study answers a question you’ve surely asked yourself a thousand times: what’s the best time to post on social media? Activity starts very early, at 8:30 a.m., and increases throughout the day.
The 8:30 p.m. to 12:30 a.m. slot is when social media gets the most visits.
The figures are great, but now you’re probably asking: what can I do to sell more? How do I reach these people? What campaigns can I run to increase sales? Don’t worry, at TLG Commerce we can help. Shall we talk?
