As sales leads and marketers we all understand that the sales funnel starts with the awareness phase. If we’re lucky we’ll be able to get the customer to trickle down to the intent and consideration phase and if we’re really lucky bam here comes the conversion and advocacy.
With innovations in social media, technology and the changing landscape of purchasing behaviour do we really now know where the intent and conversion phase starts?
Where does the journey begin?
Place yourself back over 10 years ago, how much time did you spend on social media and would you ever (at that time) even consider buying something from your social feed? Probably not.
Now let’s look at today. Consumers are spending an increased amount of time watching video and on their social channels, 50 minutes a day on Facebook alone. Not to mention the plethora of technology enhancements and social commerce tools. With this perfect storm should we be asking ourselves if optimizing our social commerce strategy something we should be focusing on?
As Jill Standish, senior managing director of Accenture’s retail industry practice, recently said in eMarketer Retail, “Social media has emerged as a real disruptor in targeting Gen Z shoppers. Retailers must understand Gen Zs’ expectations, influencer circles and behaviors—especially their social-media habits and how they differ from those of millennials. If they are spending their time on social platforms, this is where they want to be buying their products.”
We know video viewing is drastically increasing and consumers are amping up their time on social media. What else do we know? We know our customers are smart. As David Ogilvy once brilliantly said “The consumer is not a moron; she is your wife.”
Not only do consumers know a polished branded video from an authentically created and shared user video, they also trust it more. With 70% of consumers trusting online peer reviews and recommendations more than professional content, it’s no wonder The Guardian is explaining why consumers are the new marketers.
Why should you care?
No longer are we in the days of hiring talent, production crews and overseeing the approval and legal components of branded video content. We are lucky enough to find ourselves at a day-in-age where our customers are our brand advocates – producing, publishing and sharing authentic video content about our brand.
Not only are they simplifying the process for us, they are trusted by their peers. Our consumers, or ‘micro-influencers’, are our best tools to drive engagement through authenticity and trust.
With authenticity and trust comes buying intent – 93% of consumers find UGC to be helpful when making a purchasing decision, an opportunity for brands to optimize their social commerce.
Simple, start harnessing the power of authentic user generated content. Drive sales, learn about your viewers’ purchase intent and really get your brand out there with meaningful reach.
As our dear friend Einstein once said “To raise new questions, new possibilities, to regard old problems from a new angle, requires creative imagination and marks real advance in science.” As Marketers, we are are all studying the science of buying behavior and what turns our prospects to buying customers. If innovations are found, tried and true why wouldn’t we evolvewith the times to increase our ROI?