When considering new social media platform that appears to have a vast following, be aware that the vast following may not be depending on that platform for purchase decision information.
Knowledge Networks released new report on the influence of social media on purchasing decisions.
It found on average, 83% of the Internet population* is involved in social media. Even though 47% of the populace visits social media sites weekly, the report found that less than 5% use the sites for aide in purchase decisions in nine specific product/service categories. These categories were distinguished as Travel, Banks, Clothes, Eating out, Cell phones, Personal care products, Cars, Groceries, and Prescriptions or OTC drugs. The highest ranked category was Travel with 4% of the respondents admitting to regularly turning to social media for assistance.
Among those who participated, only 16% of users say they are more willing to make a purchase from a company that has advertised on social sites.
* A population is defined as people between the ages of 13 to 54.