When the time comes to implement a digital marketing strategy, one of the most common “cons” for those running the company is that, supposedly, “social networks don’t sell”. This excuse, however, is a thing of the past. In order to better understand which products are the best sellers on social networks and how social media marketing contributes to sales, I would like to share with you today the results from IAB Spain’s latest annual social networks study.
The best selling products on Social Networks
The first thing that stands out from IAB’s data is that social networks play a very important role in purchasing decisions: two in every three users declared that social networks had influenced them when deciding whether or not to purchase a product or service. Amongst them, Facebook proved to be the most influential. Social networks influence decisions especially in clothing, footwear and/or accessory purchases (49% of users), influencing women in particular (61%). As for purchase drivers, we see offer or special pricing (36%) and interest in the product (25%).
Although it is crystal clear that presence on social networks can help you sell more, only 14% of surveyed people said that they had ever actually made a purchase directly form a social network. This percentage rises to 19% among younger users, between 16 and 30 years of age. This number is most likely due to the still limited amount of brands who offer the ability to purchases their products or services directly form a social network, and, as such, purchasing habits have not yet adapted to this new phenomenon.
As for evaluating the connection between different advertising channels, IAB offers extremely valuable data: the percentage of users who have visited a brand’s social networks after having seen one of their products advertised on TV, outside, in the press or magazines. This percentage is 27% of global users, and 34% of the younger generation. As such, we can see that there are definitely very good possibilities of cross advertising between the online and the offline world. Moreover, this percentage varies with the type of product:
- 32% (44% for women) for clothing, footwear and accessories.
- 31% (36% for men) for plane, train and boat tickets, or car rentals.
- 29% for hotel stays and rural houses.
- 26% on movies.
- 25% on music.
- 21% (31& for men) for electronic devices.
- And lastly, 20% (33% for women) in cosmetics, beauty and body-related products.
There should be no doubt left that social networks do sell, and can be a great opportunity for your brand, especially if you work in any of the sectors we mentioned above. In order to be one of the bestselling products yourself, my recommendation would be to focus on attracting quality leads, and take great care of your content schedule. Good luck!