With social networking sites like Facebook and Twitter becoming the latest word-of-mouth venue, it is becoming more pertinent for businesses and companies to have a presence on these sites.
According to the report Social Commerce on Facebook, Twitter and Retail Sites, almost 75% of the merchants in the Internet Retailer Top 500 Guide have a presence on at least one of the major social networks or social shopping sites.
Social networking users of all ages are more likely to make online purchases, so they are considered a highly sought-after group by internet retailers, according to a May 2009 survey by Anderson Analytics.
Many of these companies use social networking sites for getting feedback, customer service, promoting deals, and more to encourage users of the site to shop at their retail stores.
Social networking users are also likely to express recommendations. According to a 2009 Razorfish survey, 29% of social networking users share their views online at least every few weeks while 10% share at least every few days.
“People are spending more time on social networks and are able to conduct more of their regular activities on these platforms,” said Jeffrey Grau, eMarketer senior analyst and author of the new report, “Social Commerce on Facebook, Twitter and Retail Sites.” “E-commerce on social networks has barely tapped that potential.”
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