Understanding Social Commerce for Business

| April 10, 2012 | 2 Comments
Social Commerce Psychology of Shoppers

Infographic on Social Commerce courtesy of Tabjuice

The internet is chock full of information and recently I came across this infographics that describes six universal heuristics that shoppers use to make decisions.  The psychology of social commerce offers many nuggets of information for brands online interested in understanding what makes people buy what they do.  How do they make their decisions?  What information plays a part in their final choices?  Why do they choice one brand over another?  Does the social media channels they go on daily play a role in their decision making?  Do their friends and social connections influence them at all?

 

Heuristic #1 Social Proof - 81% of consumers receive advice from friends & family relating to a product purchase through a social networking site.

 

Heuristic #2 Authority -  77% of online shoppers use reviews from specialist’s they highly regard due to their expertise & authority.  This is earned authority from invested time, resources and activity utilizing social channels such as blogs, YouTube, Twitter, Facebook, LinkedIn, Pinterest, etc.

 

Heuristic #3 Scarcity – 77% of people Like getting exclusive offers via their social channel of choice. Consumers love to feel that they are an exclusive member or have access to limited and exclusive deals.

 

Heuristic #4 Liking – Because people follow those they like, almost 50% of shoppers have made a purchase based on a recommendation throughout a social media network.

 

Heuristic #5 Consistency – When faced with uncertainty, we prefer options that are consistent with our beliefs and past behavior.  62% of online shoppers are brand loyal.

 

Heuristic #6 Reciprocity – Not only do we have an innate desire to repay favors in order to maintain social fairness but I also believe that people like to help others.  We are by nature, wired to always want to do good for others by sharing helpful information.  Every month over 25,000,000,000 pieces of content are shared on Facebook.

 

The take-away for businesses is to utilize these six universal heuristics and apply them to provide consumers a more cohesive and connected online experience.  The consumers will repay businesses with higher social proof which will increase your social authority.  Give the consumer a feel and experience of exclusivity and belonging to an exclusive community and you have applied scarcity.  Increase your social bonds and trust and your social Likeness will increase.  Remain consistent with your consumers and they will come back because they trust your brand.  Reciprocity will pay it forward in increased social capital for your business.  Does your business need assistance with your social media marketing campaigns?

Tags: , , , , ,

Category: Company Branding, Social Media

1 comments