Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

How does Social Media Influence the Buying Process

5,368 views

Published on

How does Social Media Influence the Buying Process - check it out here...

Published in: Retail, Social Media, Business
  • Nice !! Download 100 % Free Ebooks, PPts, Study Notes, Novels, etc @ https://www.ThesisScientist.com
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Hey guys! Who wants to chat with me? More photos with me here 👉 http://www.bit.ly/katekoxx
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

How does Social Media Influence the Buying Process

  1. 1. www.SeoCustomer.com How does social media influence the consumers buying process? Post purchase Purchasing decision Evaluation Information search The Need
  2. 2. www.SeoCustomer.com The Buying decision model Post purchase Purchasing decision Evaluation Information search The Need
  3. 3. www.SeoCustomer.com Identification of the need The need recognition is the first and most important step in the buying process. If there is no need, there is no purchase. This recognition happens when there is a lag between the consumer’s actual situation and the ideal and desired one. The Need
  4. 4. www.SeoCustomer.com Different kind of needs Internal stimuli (physiological need felt by the individual as hunger or thirst) which opposes the external stimuli such as exposure to an advertisement, the sight of a pretty dress in a shop window or the mouth-watering smell of a french “pain au chocolat” when passing by a bakery. The Need External stimuli Internal stimuli
  5. 5. www.SeoCustomer.com Classification by type of needs Functional need: the need is related to a feature or specific functions of the product or happens to be the answer to a functional problem. Social need: the need comes from a desire for integration and belongingness in the social environment or for social recognition. Need for change: the need has its origin in a desire from the consumer to change. The Need Social need Functional need Need for change
  6. 6. www.SeoCustomer.com Maslow’s hierarchy of needs Developed by the eponymous psychologist, this is one the best known and widely used classifications and representations for hierarchy of needs. It specifies that an individual is “guided” by certain needs that he wants to achieve before seeking to focus on the following ones The Need Need of love and belonging Need of esteem Need of self / actualiza- tion Safety needs Physiologic al needs
  7. 7. www.SeoCustomer.com Maslow’s hierarchy of needs Developed by the eponymous psychologist, this is one the best known and widely used classifications and representations for hierarchy of needs. It specifies that an individual is “guided” by certain needs that he wants to achieve before seeking to focus on the following ones The Need Need of love and belonging Need of esteem Need of self / actualiza- tion Safety needs Physiologic al needs
  8. 8. www.SeoCustomer.com The need and social media Social Media is a great platform to promote products and essentially help customers discover something new or recognize a need. Half of all Internet users ages 18 to 23 use social networks as their primary Internet discovery resource, as do 43% of Internet users ages 24 to 32. The key is to increase brand awareness in this stage. The Need
  9. 9. www.SeoCustomer.com Information search and consideration phase Once the need is identified, it’s time for the consumer to seek information about possible solutions to the problem. He will search more or less information depending on the complexity of the choices to be made but also his level of involvement. (Buying pasta requires little information and involves fewer consumers than buying a car.) Information search
  10. 10. www.SeoCustomer.com Information search and consideration phase Internal information: this information is already present in the consumer’s memory. It comes from previous experiences he had with a product or brand and the opinion he may have of the brand. External information: This is information on a product or brand received from and obtained by friends or family, by reviews from other consumers or from the press. Not to mention, of course, official business sources such as an advertising or a seller’s speech. Information search External Informa- tion Internal Informa- tion
  11. 11. www.SeoCustomer.com Information search and social media People are looking for posts made by the company such as promotions, referrals from friends and recommendation from strangers. 71% of consumers are more likely to make purchase based on social media referrals. Almost one quarter (22%) of social media users asked for suggestions and recommendations from other users, and the same number said that they connected directly with vendors through social media. Social feedback has become an important purchase validation tool. Information search
  12. 12. www.SeoCustomer.com Evaluation of the choices Once the information collected, the consumer will be able to evaluate the different alternatives that offer to him, evaluate the most suitable to his needs and choose the one he think it’s best for him. Evaluation
  13. 13. www.SeoCustomer.com Evaluation of the choices In order to do so, he will evaluate their attributes on two aspects. The objective characteristics (such as the features and functionality of the product) but also subjective (perception and perceived value of the brand by the consumer or its reputation). Evaluation Subjective Charac- teristics Objective charac- teristics
  14. 14. www.SeoCustomer.com Evaluation criteria The consumer will then use the information previously collected and his perception or image of a brand to establish a set of evaluation criteria, desirable or wanted features, classify the different products available and evaluate which alternative has the most chance to satisfy him. Evaluation
  15. 15. www.SeoCustomer.com Evaluation of the choices The process will then lead to what is called “evoked set”. “The evoked set” (aka “consideration set”) is the set of brands or products with a probability of being purchased by the consumer On the other hand, “inept set” is the set of brands or products that have no chance of being purchased by the shopper While “inert set” is the set of brands or products for which the consumer has no specific opinion. Evaluation Inert set Inept set Evoked set
  16. 16. www.SeoCustomer.com Evaluation and social media When deciding which brand to go with social media can help by: -Keeping your brand top of mind -Highlighting the relevant benefits associated to your product -Engaging with the consumers which leads to establishing trust Evaluation
  17. 17. www.SeoCustomer.com Purchasing decision Now that the consumer has evaluated the different solutions and products available for respond to his need, he will be able to choose the product or brand that seems most appropriate to his needs. Then proceed to the actual purchase itself. His decision will depend on the information and the selection made in the previous step based on the perceived value, product’s features and capabilities that are important to him. Purchasing decision
  18. 18. www.SeoCustomer.com Purchasing decision and social media To increase the chances of converting leads into customers, the social media tactics that are the most successful are: · Providing benefit-driven posts with links to more info on a regular basis · Offering social media exclusive discounts and coupons (with links to use them) -32% of women say they’re influence by special offers on Facebook & 29% on Twitter Purchasing decision
  19. 19. www.SeoCustomer.com Post purchase behavior Once the product is purchased and used, the consumer will evaluate the adequacy with his original needs (those who caused the buying behavior). And whether he has made ​​the right choice in buying this product or not. He will feel either a sense of satisfaction for the product (and the choice). Or, on the contrary, a disappointment if the product has fallen far short of expectations. Post purchase
  20. 20. www.SeoCustomer.com Post purchase behavior If the product has brought satisfaction to the consumer, he will then minimize stages of information search and alternative evaluation for his next purchases in order to buy the same brand. Which will produce customer loyalty. On the other hand, if the experience with the product was average or disappointing, the consumer is going to repeat the 5 stages of the Consumer Buying Decision Process during his next purchase but by excluding the brand from his “evoked set”. Post purchase
  21. 21. www.SeoCustomer.com Post purchase behavior and social media Customer service management is extremely important here! People tend to be very vocal on social media about their experiences with brands, positive and negative. Engaging with customers can help drive repeat purchase and loyalty. Post purchase

×