Social Media Impact to Boost Conversions

Social Media Impact to Boost Conversions

Social media conversion measurement depends what is a conversion to brands? Some may see conversion as an online transaction, others as a sign up or an upgrade to a paid plan. Conversion objectives vary and are therefore crucial to define the attributes for different referrers & social networks. Determine the original referrer as the first touch attribution where they first heard & saw the social content or was it the referrer of the visit where the story was seen and where the actual conversion occurred as the last touch attribution.

First touch attribution work best for single purchase event where the consumer first learned about and then became interested with the brand. There can be cases when the user may not have converted the first time but the image of the brand was put on their radar. Last touch attribution is great for platforms that offer multiple purchase events like an eCommerce site where it makes sense to know about the social media referrer whose visit made the purchase. It works great for measuring social campaigns as the visit data asserts how effective it was in getting the user engaged and measure their participation level.

Consumers Device Wise Path for Conversions

Understanding these touch point attributes will allow marketers to identify the impact of social campaigns so that better informed decisions & campaign strategies could be put into practice. Recent customer interaction data has asserted that an average of 4.3 times over a period of two days is what finally triggers that last click to purchase a product or service and needless to mention that these opinion forming activities takes place on the social media network where buyers look for pre-purchase reviews and opinions.

IBM research affirms that social media paths attributes for twice as many customers for a retail site as compared to the number of purchases made directly online. With these numbers improving purchase intent in consumers, businesses can leverage number of steps to boost conversion rates from social media.

Social Media Measurement To Define Business Goals

Edison research shows that 79% consumers like to connect with brands or products on Facebook and another 86% of online customers show intent for purchase from a retailer they have liked on Facebook after navigating the retailer updates. Facebook users are highly influenced to like brand that a friend likes and with the persona of a Facebook page’s interactivity to leverage entertaining content like contest & other promotions, such favourable intent is understandably inclined. Add the touch of easy to shareable attributes to these engagements to power the science of successful conversions.

Adobe 2013 Digital Marketing Optimization survey garnered from responses of digital marketers across the globe establishes that 39% opted to place social sharing icons on web pages as powerful drivers in increasing conversion rates. The intent to try a new product or service based on social recommendations as compared to general advertising further affirms the growing popularity to increase social media conversions through the appropriate placement of social sharing icons.

Recommended Read: How to Use Social Media for Business

Legitimate reviews on products & services also adds feather to boost conversion rates by increasing consumer trust and confidence. Focus on making landing pages more engaging & interactive with strategically embedded user reviews to attribute improvement in boosting conversion rates. 

The embodiment of trust & confidence building factors with user reviews on products create a lasting impression among social shoppers who look for opinions to firm their belief on a product purchase. Social PaaS - Payment as a Gateway further connects brands with #hashtag mentions on social updates, tweets & native ads broadly to add the element of unobtrusive advertisements.. This initiation in turning social mentions into eCommerce platforms by allowing users to click on hashtag URLs that serve as the bridge between the user & the brand and give social media conversion a whole new dimension. 

2013 UPS Pulse of the Online Shopper surveyed 300 online shoppers in association with comScore to learn how businesses can boost conversions by simplifying the shopping experience for the users. “Simplifying” refers to in-store returns policy, like buy online & pick-up from the store if the location is convenient to the buyer, hassle=free returns policy and ability to choose the time of day for delivery. Over 44% say they have abandoned a shopping cart because the delivery time was too long as the average time considered reasonable for delivery by shoppers to receive purchased goods online is 7.2 days.

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Another report by eMarketer shows that 14% of online shoppers will use a website on a smartphone while 87% prefer to shop from a desktop computer. These dip in low conversions from mobile platforms is a strong indication for businesses to consider upgrading their website platform to a mobile responsive website.

Google Mobile Research confirms that 66% of mobile visitors who had a bad mobile browsing experience will move on to a competitor’s site, thus strongly emphasizing the need to adopt mobile responsive design that automatically adapt the layout and shrinking the content to fit a Smartphone’s screen resolution.

These reports from various credible sources strongly confirms the rising trend in conversions rates has given businesses new effective ways to leverage the power of social media and boost conversion for products & services. 

Here is another read that also discusses the importance of market research to improve social media conversions.

Title: Social Media Impact to Boost Conversions

By: Pallab Kakoti | Author Bio

Published: 01 March 2014

Category: Social Media Conversions

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Extracted from:

https://www.woopra.com/blog/2013/06/20/how-to-measure-social-media-conversion-success/

http://insights.wired.com/profiles/blogs/social-media-the-key-to-boosting-conversion-rates