Social Media Influence on Purchase Decisions

Knowledge Networks reports that 83% of the Internet population (ages 13 to 54) participates in social media, with 47% on a weekly basis. However, less than 5% of social media users regularly turn to these sites for guidance on purchase decisions in any of nine product/service categories. In addition, only 16% of social media users say they are more likely to buy from companies that advertise on social sites.
 
Social Media Users Who Turn to Social Media For Purchase Decision Information
  Frequency (% of Respondents)
Product/Service Category “Regularly” turn to social media “Sometimes” turn to social media
Travel or travel services

4%

24%

Banks or financial services

4%

10%

Clothes or shoes

3%

23%

Eating out or restaurants

3%

21%

Cell/mobile phones and service

2%

21%

Personal care products

3%

15%

Cars or trucks

2%

15%

Groceries or food

2%

13%

Prescription or OTC drugs

1%

10%

Source: KnowledgeNetworks, May 2009

The study also shows that:

  • 34% of social media users report using these sites or features more often now compared to a year ago
  • 18% said they use them less
  • 1% of the total online population uses Twitter once a week or more
  • 60% of social media participants only access these sites at home