19 / May / 2020 : 13-17
The Impact of Social Media on Consumer Buying Behavior
Social media has dramatically changed the way consumers make purchasing decisions. Today, consumers are more likely to turn to social media for product information, recommendations, and reviews before making a purchase. As a result, businesses need to understand the impact of social media on consumer buying behavior in order to effectively reach and engage with their target audience.
Increased access to product information: Social media provides consumers with easy access to product information, reviews, and recommendations from other consumers. This information can significantly impact a consumer's purchasing decision, especially if it comes from a trusted source like a friend or influencer.
Influencer marketing: Influencer marketing is a form of marketing in which brands partner with influencers to promote their products. Influencer marketing has become increasingly popular on social media, and it has a significant impact on consumer buying behavior. Consumers trust influencer opinions and are more likely to make a purchase based on a recommendation from an influencer they follow.
Increased brand exposure: Social media also provides businesses with an opportunity to increase brand exposure and reach a wider audience. By creating engaging content and utilizing paid advertising, businesses can reach their target audience and build brand awareness, ultimately influencing consumer buying behavior.
Personalized marketing: Social media also allows businesses to personalize their marketing efforts and reach consumers with targeted advertisements based on their interests, behaviors, and demographics. This can have a significant impact on consumer buying behavior, as consumers are more likely to engage with advertisements that are relevant to them.
In conclusion, social media has had a profound impact on consumer buying behavior. By providing access to product information, influencer marketing opportunities, customer reviews, increased brand exposure, and personalized marketing, social media has changed the way consumers make purchasing decisions. Businesses that understand and effectively utilize these factors can influence consumer behavior and drive sales.
Customer reviews: Customer reviews are another important factor in consumer buying behavior. Social media provides a platform for consumers to share their experiences with a product or service, and these reviews can have a significant impact on other consumers' purchasing decisions.
Published on 19 / May / 2020 : 13-17
Published by
Liana Aloyan
Journalist, columnist. Liana studies at the Faculty of Russian Philology of Khachatur Abovyan State University. She has been working at Yelaket (Yelaket.am) news agency since 2019 as a journalist and columnist. Writes articles about business and marketing. Liana is a member of "Media association" since 2020.
Viewed
404times
Recommended
21 / February / 2020
Where Do The Richest Americans Live?
Have you checked the newest "Forbes 400: The Full List of The Richest People in America" yet?
Surprise, Bill Gates, with a net worth of $81 billion, is ranked No. 1 for the 23rd year running....
17 / June / 2021
Gold loses its shine as Fed hints at rate hikes
The Federal Reserve surprised the market Wednesday with projections that future interest rate hikes will come a bit sooner than expected. Gold bugs in particular were disappointed.The price of gold...
17 / June / 2021
Jobless claims unexpectedly rose last week
Claims for unemployment benefits rose unexpectedly last week, marking the first increase in initial claims since late April.Another 412,000 workers filed for first-time benefits in the week ended...
16 / July / 2021
Abu Dhabi’s maritime sector strategy shifts to diversification, less reliance on oil
“No one is safe, unless everyone is safe” is the thinking behind herculean efforts to immunise the world against Covid-19.Abu Dhabi, capital of the United Arab Emirates (UAE) and a strategic hub...
15 / February / 2022
Ameriabank is the first in Armenia to place green bonds via public offering
Ameriabank announced today public placement of nominal, coupon, book-entry bonds with the total volume of USD 8 million and AMD 3 billion during the period from February 14 to April 22, 2022,...
22 / February / 2022
Ameriabank receives another IFC award in trade-finance sector
Ameriabank CJSC has been named the Best Issuing Bank in the Caucasus for 2021 by International Financial Corporation (IFC), a member of the World Bank Group, in the 10th annual award ceremony in...
02 / March / 2022
Global Finance Names Ameriabank “Best Investment Bank” in Armenia
Global Finance reputable magazine has published the list of winners of the World’s Best Investment Banks 2022 Award, naming Ameriabank the “Best Investment Bank in Armenia” for the seventh year in...
31 / March / 2022
Ameriabank’s ‘Live Armenian,’ ‘Live with a Smile,’ ‘Live Limitless’ promotional draws’ winners...
Ameriabank on Wednesday summed up the promotional draws “Live Armenian”, “Live with a Smile” and “Live Limitless” and announced the results.From December 9, 2021 to March 9, 2022, the Bank offered...