Impact of Social Media on Millenials’ buying decisions

Impact of Social Media on Millenials’ buying decisions

When companies and businesses think of targeting millennials, they direct most of their time and resources toward digital marketing. Despite fierce competition from other corporations attempting to grab the attention of millennials, companies still tend to focus on social media. So, what is the reason behind this?  More often than not, social media influences millennials’ buying decisions.

The reason is simply due to the undeniable social media influences on millennials and their purchasing decisions. Almost all millennials are fond of various technologies. You would not find a millennial who is not using at least one application or social media daily or on a regular basis.

Their extensive usage of social media and the internet enables marketing experts to collect an enormous amount of data about millennials. Undeniably, their interests and the factors that really shape their decisions are considered important to marketers when planning their social media strategy and campaign roll-out.

Here are the Five Ways Social Media Influences Millennials’ Buying Decisions

  1. User-generated content is among the key factors

The content other users create over social media has a great impact on the purchasing decisions of millennials. Almost always, millennials perceived that these points of view are genuine and true.   Recognizing this fact, companies and international brands started resorting to user-generated content. This is of course to influence various users of social media, and millennials in particular.

User-generated content supports companies and brands to earn online credibility. It also enhances their brand awareness, and obtains the highest levels of engagement on these original pieces of content. It can have many various forms including content, photos, videos, and stories that largely grab the attention of millennials.

  1. Engagement represents a vital tool for millennials

While paid Ads and common digital marketing tools have a strong influence on internet and social media users in general, this does not really apply to millennials who actually know and understand every trick in the book.

Millennials appreciate brands and businesses that encourage them to present their point of view and engage in various posts. They become loyal to a brand if they are engaged in the content posted for a while. Brand loyalty surely plays a significant role in their purchasing decisions afterward.

  1. Placing purchase orders over social media is vital

The objective of almost all online activities of various companies is to encourage users to purchase products and services. If a user decides to place a purchase order, this means he is only one step away from achieving the goals of all brands and companies. However, what is the real conversion rate of these users who actually attempt to place an order?

When users start their purchasing process, they usually visit an external website where they have to fill out long and complicated forms in order to purchase what they desire.

Well, this doesn’t appeal to millennials as they prefer social commerce where users can easily purchase what they want in simple steps and don’t have to navigate away from the social media platforms they are using. Brands that manage to accomplish success with millennials enhance their social commerce process to be at its best.

  1. Influencers do influence millennials

The importance of influencers’ marketing is considerably increasing. Every business or brand wishes to benefit from influencers who have thousands of followers and have a deep impact on them.

Influencers influence Millennials

In recent interviews and statistics, a large percentage of millennials stated that influencers they like and feel attached to do have an influence on their purchasing decisions. This is particularly true of some industries like fashion and technology.

  1. Benefit from various types of data gathered through social media

Millennials love posts and campaigns that are tailored specifically for them and fulfill all their requirements. Data companies collect information about millennials.  Their interests and online behaviors support them to initiate campaigns separately and brilliantly target millennials.

The obstacle in this regard is the huge volume of various types of data. Somehow, it makes it quite a tiring task to analyze beneficial data. Thanks to monitoring tools particularly designed for social media. These innovative applications enable marketers to focus on the type of data that really makes a difference in their campaigns for millennials.