Retail Marketing - Shopping Center Marketing

Chadwick Martin Bailey and iModerate Research Technologies recently published a new study that shows that “friends” and “fans” of brands - via the social media spaces of Twitter and Facebook - are more likely to purchase the products of those brands that they “follow” or “fan” online. They are more likely to also refer these brands to friends, increasing the likelihood of a purchase through a new buyer.

The study found that consumers are 67% more likely to buy from the brands they follow on Twitter, and 51% more likely to buy from a brand they follow on Facebook. Moreover, they’re 79% more likely to recommend their Twitter follows to a friend, and 60% more likely to do the same on Facebook.

Although the brands that they “follow” or “fan” are likely brands consumers are more interested in anyway, the study shows that it’s in the referral process that new consumers are acquired. The study also found that many consumers across a wide variety of demographics have negative perceptions of brands that aren’t using social media.

Read the full article here.