Bestselling author Erik Qualman’s 2009 and 2017 Socialnomics videos provide statistics on consumer decisions based on social media, displaying that social media users have been influenced 15% more over the course of 8 years by advertisements and peer recommendations on social media (1:59 “2009”/0:53 “2017”). In Qualman’s 2009 video, it is explained that YouTubers and Facebook friends are the cause of most product promotion on social media, influencing consumer preference by 78%, though by Qualman’s 2017 video, it is said that most companies have taken to advertising on social media themselves, bringing the statistic up to 93% of influence on buyers (1:55 “2009”/0:53 “2017”). In 2009, people would promote products that they thought should be promoted, causing people to want to look into them. However, by 2017, most companies have figured out the system on their own, and have begun their own social media advertising. This is a major shift in product placement and selling strategies, displaying that the rise in social media use directly affects our decisions and opinions. This occurrence largely impacts businesses and advertisement companies, requiring them to come up with new advertising strategies utilizing what is making the biggest difference on their consumers in order to sell their products successfully. The need for social media in business has created new job openings in the expert field of studying social patterns on the internet and understanding what methods to use to successfully sell products. Without these departments, many companies’ sales would plummet, as the social and peer pressure aspects of buying decisions are clearly increasing at exponential rates. Thus, the increase in social media usage and influence over the last 8+ years is causing great impact on the way that businesses and companies are run, and will continue to cause changes for as long as it continues to exist.
-Gavi L
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