Home Social CRM [STUDY] The Social Customer and Their Influence of Other Customers
[STUDY] The Social Customer and Their Influence of Other Customers
October 9, 2011 4 Comments

[STUDY] The Social Customer and Their Influence of Other Customers

According to the 2011 Cone Online Influence Trend Tracker released back in August, four-out-of-five consumers have changed their minds about a recommended purchase based solely on negative information they found online from the social customer.

This is up from just 67 percent of consumers who said the same thing in 2010. Additionally, positive information has a similar effect on consumer decision making, with 87 percent of consumers agreeing a favorable review has confirmed their decision to purchase. However, the survey suggests that negative information is gaining traction and is now just as powerful in tipping the scales against a recommended purchase.

Additionally, customers are viewing blogs as a credible source of information when researching products and services online.  This is up almost 20 points from 2010.

What’s interesting to note here is that only 8 percent of consumers say a source is trustworthy and credible when “he/she has a lot of social media followers”.  Of course, recognized experts with product/service expertise are the most trustworthy online resources.  This certainly makes sense for high value products like televisions or new vehicle purchases.

The net net of this is data is that the social customer’s opinion matters a great deal! And, whether they know it or not, they are aiding and influencing other customers  (or not) down the purchase funnel simply through organic conversations about the experiences they have with products and services.

 

Americans are nearly 25 percent more likely to verify recommendations for high-cost purchases, such as cars, today than they were in 2010 (89% today vs. 72%), while moderate- and low-cost purchases did not experience the same jump.

Lastly, consumers spend time online verifying a product or service recommendation for a variety of reasons. At the top of the list is when they will own that product for several years.

There are two key takeaways of this study:

  1. Brands need to create kick ass product that add some level of emotional or utility value.
  2. Brands need to make a strategic attempt at transforming the social customer into a brand advocate.

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Filed Under: Social CRM, Social Customer, Social Media Tagged:
About Michael Brito

Michael Brito is a Senior Vice President of Social Business Planning at Edelman Digital. He helps his clients transform their organizations to be more open, collaborative and socially proficient; with the end result of creating shared value with employees, partners and customers. Prior to Edelman, Michael worked for Intel and Hewlett Packard in various social media marketing roles. Opinions posted here are his own.

Feel free to follow him on Twitter, subscribe to this blog or read some more of his content on Social Business News.

  • Anonymous

    Excellent stuff!

  • http://www.britopian.com Michael Brito

    Hi Amber,

    Thanks for the note! As I said in the post, you and Matt are on to something big here. Despite the criticism that many of us get for using “social business” to define what we do; the truth is, there are gaps in the enterprise and there always will be. So it doesn’t really matter what we call it … just that we can help our clients navigate through the chaos.
    Michael

  • http://keithprivette.com/ @keithprivette

    I completely agree with this approach and it is funny, I always tell people when trying to implement a “repeatable, documented, tested, deployed” SDLC; the tool will not fix that, a template will not fix it, a documented process will not fix that, hiring a supperhero PM, BA, Engineer, Architect will not fix it, buying the coolest saas platform won’t fix it (well that might fix the bottom line, more on that another day)…Behaviors towards any of these changes is what will make the change and yes this starts from the top down! I like their approach in; it is one thing to give a business an approach and walk away, but quite another to have a partner be with you to actually help change the behaviors.  The business leadership needs that therapy and actionable tasks.  Good assessment Michael!

  • http://www.socialtext.com/customers/case-study-blue-man-group.php Sandra Ponce de Leon

    …in many cases the software can help to uncover the underlying culture, allow it to rise to the top and flourish