55% of People Make a Purchase After Social Media Discovery. Are You Being Seen?
Tue Jun 12 2018
Starting tomorrow morning when you wake up, take a mental note of how many ads you see throughout your day. If you're like most people, the first thing you do is check your phone. Right? How many ads have you counted after you're done scrolling through Instagram, Facebook, and your go-to blogs?
...I tried this challenge and lost count before I even brushed my teeth!
The abundance of ads we're exposed to each day is very intentional. The Marketing Rule of Seven says that consumers must see an ad at least seven times before making a purchase. Over the years, many marketers have come up with their own magic number of touch points. Regardless of the number, as marketers, we know that in order to effectively entice our audience through their marketing journey we must be a little creative to be seen and heard.
The majority of internet users see over 200 online ads each day! So what type of ads actually generate conversions? How can you create ads that aren’t lost due to banner blindness and instead generate genuine interest in your brand?
Social media drives product discovery and online purchases
In fact, the 2018 KPCB Internet Trends report finds that 55% of people bought a product online after seeing it on social media.
Let’s face it, it’s 2018–and by now every brand has tried its hand at social media marketing. In order for social media to have a serious impact on your bottom line and to keep up with your competitors, you’ll need to:
- understand each of your unique audiences
- create content that provides value and resonates with each of them.
As a brand with mass appeal, you may be thinking “it’s impossible to identify each of our unique audiences, let alone create enough diverse content to target each of them individually.” Or is it?
Brands with the most lucrative social media strategies have begun partnering with relevant influencers and leveraging the high quality, authentic, and high performing content that they create.
Social media influencers got their name for a reason. Because influencers are consumers themselves, they are enthusiastic about trying products and they are willing to share what they love. The best influencers also have the ability to create professional quality content that is very effective at influencing their followers’ purchasing behavior. In fact, influencer content has an 88 percent greater impact on increasing brand affinity than user reviews.
Influencers come from all walks of life, so influencer marketing allows you to organically reach tens of thousands, and sometimes millions of consumers, of different ages, races and places who are literally waiting to see product recommendations, reviews, how-to’s and tutorials from someone they trust.
Be patient–most people don’t make immediate purchases
Four times as many people will make a purchase eventually rather than immediately after seeing a product on social media
The same KPCB report finds that while over half of people make a purchase after seeing a product on social media, only 20% of social media’s impact results in an immediate sale versus an eventual sale.
Think of it this way: You may partner with an influencer whose Instagram posts, YouTube videos, tweets or other sponsored online content generates thousands of dollars in sales for your brand immediately. That’s amazing.
But don’t stop there! You’re only extracting ⅕ of that piece of content’s total value, leaving thousands of dollars of potentials sales on the table. Why? Because most people are more likely to make a purchase later on.
Influencer marketing helps to keep your brand at the top of your customer’s mind when they are ready to make a purchase
Influencer content impacts the sales funnel at the top by generating brand awareness in the customer’s product discovery stage, and it helps to drive bottom line sales through things like coupon codes and other sales tactics in the purchasing stage.
Influencer marketing allows you to get in front of your customers, wherever they are (without spending millions of marketing dollars) by giving you the ability to easily source a large volume of targeted content for each of your market segments at each stage of their buyer's journey.
Top of the funnel: discovery and brand awareness
If a potential customer is in need of a pre-workout shake, they’re going to first think of the fitness guru they follow on Instagram and the brand she promoted a few posts back. While they may see the sponsored posts for months without making a purchase, they will immediately think of you when they are finally ready to splurge.
Bottom of the funnel: conversions
Consumers look for third party validation and testimonials when making a purchase. An influencer’s audience associates any product that the influencer mentions with someone they already admire and trust. This trust is then projected onto your product and your brand. So, when the same customer is ready to make a purchase, if their favorite influencer has promoted their brand, they’ll automatically be inclined to consider, and ultimately purchase, from your brand.
How can you start using social media to generate more sales?
1. Find influencers who have authority among your target audience
The right influencers will drive better results because they’ll create on-brand content, be more apt to work with you on a long-term basis, and ideally have a following of people who will also love your brand.
2. Create long-term relationships
If you’ve found an influencer whose content is consistently producing conversions, partner with them on a long-term basis! Their audience is familiar with your brand, and they have the ability to be an always-on content engine for all of your marketing channels. Additionally, it seems more authentic if an influencer mentions brands they love on a consistent basis rather than in just one post.
3. Repurpose the images in paid ads on your owned social media and other marketing channels
Influencer generated content is inexpensive, diverse, authentic and high performing. If you’ve found a group of influencers who create consistently high performing content, repurpose it on your website, paid ads, social media, emails, and even print ads! Your audience will associate your brand with someone they recognize.
Once you’ve found your secret recipe, test new influencers, new content, and new target audiences to expand your sales potential even further!