We often here of studies that find consumers who follow or fan companies or brands on a social networking site, like Facebook or Twitter are more likely to purchase products or services from them. Once again, the latest study from Chadwick Martin Bailey and iModerate Research Technologies confirms that.
Amazingly, the study found that consumers who follow companies or brands on Twitter are 67% more likely to buy from them, while 51% are more likely to buy from a brand that they follow on Facebook. And when it comes to recommending companies and brands to friends, 79% said they were more likely to recommend them if they were on Twitter and 60% if they were on Facebook.
With more than 400 million users, Facebook is becoming an essential tool for marketing. While the report is should be positive for many, the study also found several consumers across a wide range of demographics that had a negative feeling towards brands that weren’t using social networking sites.
Adam Ostrow from Mashable.com said, “Overall, the study is another sign that social media is becoming a competitive advantage for those that are participating, and an increasingly major weakness for those that aren’t.”