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Influence of Social Media on Consumer Behaviour

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Publicado en: Empresariales, Tecnología
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Influence of Social Media on Consumer Behaviour

  1. 1. SOCIAL MEDIA & CONSUMER BEHAVIOUR Presented by Khushbu Pandya, Founder of Konvophilia Communications Author of WEAVE Model #InDigiNext2013
  2. 2. CONFESSIONS !  Confession # 1 - I am not any social media genius!  Confession # 2 - I can‟t guarantee likes, follows and clicks!  Confession # 3 - I do not know technical stuff like SEO! All I have got is – PASSION I have studied social media closely and its various outlooks and I love what I do ! @Pandya_Khushbu#InDigiNext2013
  3. 3. TALK AGENDA  Social Media & Consumer Behaviour : Two broad disciplines – where is the connect?  Influence of social media on consumer behaviour  Why Social data is important?  Top 5 reasons why consumers like or follow brands on social media  Top 4 reasons why consumer unlike or un-follow brands on social media  Trends in consumer behaviour  What to do now? Where to start from?  7 Step Process of going Social & Consumer behaviour observation sheet  Questions / points to discuss @Pandya_Khushbu#InDigiNext2013
  4. 4. TWO BROAD DISCIPLINES–WHERE IS THE CONNECT?  Consumer Behaviour was relatively new field of study in the mid-late 1960‟s1.  Because it had no history or body of research of its own, marketing theorists borrowed concepts from other disciplines -  Psychology (the study of the individual)  Sociology (the study of groups)  Social Psychology (the study of how an individual operates in groups)  Anthropology (the influence of society on an individual), and  Economics 1Leon G. Schiffman, Leslie Lazar Kanuk and S. Ramesh Kumar, Consumer Behavior, 10th ed. (New Delhi,India: Pearson Education, 2010), 35. @Pandya_Khushbu#InDigiNext2013
  5. 5.  This combination helped to form the basis of this new marketing discipline.  Many early theories concerning consumer behaviour were based on economic theory, on the notion that individuals act rationally to maximise their benefits (satisfaction) in the purchase of goods impulsively and to be influenced by not only family and friends, by advertisers and role models, but also by mood, situation, and emotion.  All of these factors combine to form a comprehensive model of consumer behaviour that reflects both the cognitive and emotional aspects of consumer decision making. @Pandya_Khushbu#InDigiNext2013
  6. 6. SOCIAL MEDIA CONNECT  Social Media is a Channel on which Consumer Behavior is reflected directly and is visible to everyone on the real time basis.  Hence, that‟s the connect between Social Media & Consumer Behaviour! @Pandya_Khushbu#InDigiNext2013
  7. 7. WHO IS THE NEW CONSUMER ? @Pandya_Khushbu#InDigiNext2013
  9. 9. INFLUENCE OF SOCIAL MEDIA ON CONSUMER BEHAVIOUR  Social Media gives opportunity to communicate with customers.  It allows greater „Reach‟ with „targeted communication‟ that guaranties company‟s message is received by the consumers.  Social Media has given power to consumers resulting in to „Empowered Consumerism‟ @Pandya_Khushbu#InDigiNext2013
  10. 10.  Two way communication – creating interactivity – direct effects on consumer behaviour:  New Voice of Consumer @Pandya_Khushbu#InDigiNext2013
  11. 11.  Consumers are Now “Researchers” @Pandya_Khushbu#InDigiNext2013
  12. 12.  Consumer‟s Loyalty  Consumer‟s rapport with the company  E.g. personal experience with „Things Remembered‟ @Pandya_Khushbu#InDigiNext2013
  13. 13.  Consumer Advertising (WOM principle works faster here) @Pandya_Khushbu#InDigiNext2013
  14. 14. WHY SOCIAL DATA IS IMPORTANT?  Provides direct access to consumers  Useful hints on What to discus and what not to discuss  Useful in developing business  Understanding „Who‟ is using the product/service, why and other usage behaviour  Deciding on other marketing strategies @Pandya_Khushbu#InDigiNext2013
  15. 15. LET‟S DISCUSS FACTS:(REFERRING TO MY PH.D. RESEARCH DATA) 1. Professional Networker and Explorer  Uses SM to build and maintain good relations with customers and all the work related people.  Likes to read and collect information about product and services.  Constantly look out for new things online. @Pandya_Khushbu#InDigiNext2013 There are four categories of Consumers in Gujarat:
  16. 16. 3. Pessimists  Social Media creates Nuisance  Social Media are waste of time  Social Media are misinterpretations of reality @Pandya_Khushbu#InDigiNext2013 2. Socialisers  Likes the feeling of being always connected to others  Likes to read about other people‟s lives  Enjoy sharing reviews on social media networks
  17. 17. 4. Connectors with Purpose  Uses SM to communicate with limited network of people. (limited to their specific interest only.)  Likes to keep in touch with their friends & family only @Pandya_Khushbu#InDigiNext2013
  18. 18. TOP 5 REASONS – WHY CONSUMER OR BRANDS ON SOCIAL MEDIA? Easy access to Product/company information, available 24/7, and monitor New Products/Services or future releases 26.2% Receive Discounts, coupons, or giveaways 25.4% Get User reviews, experiences and also share their own experiences and reviews 14.3% Networking & relationship building with brands, feels more humanised 9.6% Using the products currently, So easy to avail after sales services & product information 14.8% @Pandya_Khushbu#InDigiNext2013 Research sample of 1045 respondents from across Gujarat
  19. 19. TOP 4 REASONS – WHY CONSUMER OR BRANDS ON SOCIAL MEDIA? @Pandya_Khushbu#InDigiNext2013 High Promotions and too much of posts regarding products 32% Do not listen or respond to the complains posted 25% Interference / harassment of people, other than friends 10.7% No new content provided 5.8%
  20. 20.  Various Research groups and Industries from all over the world have done research in this area and all have come to a single consensus :- “Social Media is Revolutionizing Consumer Behaviour” @Pandya_Khushbu#InDigiNext2013
  21. 21. TRENDS IN CONSUMER BEHAVIOUR @Pandya_Khushbu#InDigiNext2013
  22. 22. TRENDS TO LOOK OUT FOR:  Increasing trends in Online Shopping & Mobile devices results into increased power of Social Media – creating larger impact on the way consumers shop.  In-store shopping decisions are also affected by Social Media  Consumers look out for specials on foursquare as they make check-ins  Scan Bar codes to look out for product information  Use various apps at the point of sale @Pandya_Khushbu#InDigiNext2013
  23. 23. SMRTPHN CULTR ! (IT ISN'T A TYPO ERROR ) @Pandya_Khushbu#InDigiNext2013
  24. 24. PROVEN FACT # 1  Consumers have become the part of building a Brand‟s Reputation @Pandya_Khushb u #InDigiNext2013
  25. 25. PROVEN FACT # 2  Customers are your True Brand Advocates @Pandya_Khushbu#InDigiNext2013
  26. 26. PROVEN FACT # 3  Social Media is now an effective way to provide an excellent customer service @Pandya_Khushbu#InDigiNext2013
  27. 27. PROVEN FACT # 4  Traditional marketing still has its place, but there is a need to engage the “always-connected consumers” at every touch point & in real-time, anticipating their needs and responding at each step. @Pandya_Khushbu#InDigiNext2013
  28. 28. WHAT TO DO NOW? WHERE TO START FROM? MOST IMPORTANT :  Don‟t IMITATE others; Don‟t do just for the sake of doing; Don‟t blindly follow others ! @Pandya_Khushbu#InDigiNext2013
  29. 29. 7 STEP PROCESS OF GOING SOCIAL @Pandya_Khushbu#InDigiNext2013
  30. 30. Awareness Perception Targeting Traffic/SEO User Content Engagement Purchase Referral Evangelism Thought Leadership Measurement Social Book marks Location based Ratings/ Forums Photo Sharing Video Sharing Profess ional Networks Social Net works Micro Blogs Blogs Monitoring Tools Online Community EmailAppsSocial Dash board SETTING GOALS AND MEASURING PERFORMANCE [ CONSUMER BEHAVIOUR OBSERVATION SHEET ]
  31. 31.  It is important to have your own model rather than copying other‟s !  Social Media success depends on how well you understand your customers !  Understand the Social Media Fundamentals @Pandya_Khushbu#InDigiNext2013 My Book WEAVE Model explains Social Media Fundamentals that helps integrating social media into your business. You can check it out at Amazon Bookstore, Barnes & Noble or mail me for e-book copies !
  32. 32. AND THAT ENDS MY PRESENTATION, LET‟S STAY CONNECTED ! @Pandya_Khushbu#InDigiNext2013 | (coming soon) I am present on almost all social media platforms –  You can look out for Konvophilia or Khushbu Pandya  Check out my Book at  Catch up the book updates using #weavemodel