Archive for ‘stats’

December 22, 2014

Amazon reviews are almost as trusted as peer recommendations [Infographic]

A recent survey suggests that 50% of customers are actively using their smartphones to compare prices while in store.

A recent survey says 50% of customers are using their smartphones to compare competitor prices while in-store.

CRM software providers crowdtap published an infographic (below) this month to share some emerging trends in the ability of social media to influence consumer behaviour. After surveying over 3,000 US customers in 2013, and again in 2014, they found that social media is increasing its value to businesses who want to influence buying decisions throughout the holiday season.

A few things caught my eye:

1. Amazon reviews are almost as trusted as peer recommendations. I was a little surprised to see the difference between trusting a peer and trusting an online review was only 5 percentage points. I suppose this speaks to the importance of hearing directly from an existing product owner, rather than just trusting somebody in your network who you happen to already know who may not actually own the product.

2. Facebook dominates. If your business is only going to participate in one social media activity, you better make it Facebook. The survey results suggest that people are turning to Facebook, more than any other social network, to research gifts, look for promotions, and share their purchases. The only category where Facebook finished second was “gift inspiration” – losing the top spot by only one percentage point to Pinterest. Twitter seems to be rounding out the bottom of each of these categories. Perhaps this could be due to the transient nature of the messages, and also because Twitter relationships are often centered around topics of interest rather than trusted personal connections.

3. People are shopping at your competitors, right from within your store.  The survey results suggest that 50% of the people physically walking into your store will whip out their device and check a competitor’s price to see where you compare. I do this. I do this all the time. I expect this trend to continue to grow year-over-year.

4. Social media supplants TV as the most popular source for “inspiration”. For the first time, we’re relying on social media to provide us with gifting ideas more than any other medium; overtaking traditional television’s historical dominance in this area. This could be a symptom of the declining TV viewership numbers across every age demographic – with the largest decline in television consumption belonging to the 18-24 segment.

How does social media impact your holiday shopping behaviour? Check out the following infographic, and let me know what you think.

HolidayShoppingSocialMediaInfographicSmall

December 12, 2013

Infographic: Consumers are 64% more likely to purchase a product after watching an online video

YouTubeFormulaWe all know that content is king on the Internet; and when it comes to types of content, it looks like video is at the top of the food chain. Video is everywhere online, from feature-length films, to sales pitches, to amateur videos of people at the zoo. Year over year, YouTube comes out with statistics showing staggering growth in videos uploaded and viewed.

The good folks at MultiVisionDigital published the infographic below to put into perspective how the omnipresent video is affecting consumer decision-making and behaviour. If you are trying to sell products or services, you may want to add video to your online strategy (if it isn’t there already) as consumers are 64% more likely to purchase a product after watching an online video.

The most unexpected finding was that video has a lifespan of 4 years. That’s an eternity. Considering that the average lifespan of a Facebook post is 3 hours and 7 minutes, a four-year shelf-life for a video is astounding. To put it in perspective, exactly 4 years ago, on the date this post was published, Taylor Lautner was hosting Saturday Night Live making jokes about Kanye’s stage crash of Taylor Swift at the 2009 VMAs…but you know what, I still like that Kanye video so the 4 year lifespan checks out.

The infographic also shows that video is not just used for traditional B2C decision-making, but executives are using videos to inform their B2B purchasing choices.

  • The average user spends 88% more time on a website with video
  • 60% of consumers will spend at least 2 minutes watching a video that educates them about a product they plan on purchasing.
  • 96% of IT decision makers and tech buyers watch videos for business
  • 75% of executives watch work-related videos on business websites once a week

VideoSalesFigures

What do you think? Do online videos impact your decision-making? When was the last time you made a medium-sized or large purchase without checking out YouTube to see the product in action? Leave a comment and let me know.

November 11, 2013

You are what you tweet: Researchers predict users’ gender with 92% accuracy

How often do you think about what you are telling the world about yourself when you post an update to your social media profiles? Well, it turns out that you are being studied, whether you know it or not. Earlier this fall, PLOSone published a study that aimed to link the vocabulary netizens use with their age, gender, and select personality traits. The unique twist on this study was the methodology. Instead of using known word correlations to base their analysis on, they adopted an open vocabulary approach in an attempt to “find connections that are not captured with traditional closed-vocabulary word-category analyses”.

The use of the open vocabulary approach yielded some interesting results:

1. Men are much more likely to use profanity and talk about gaming while women seem to be much more positive and upbeat. *The size of the word in the word clouds below indicates the strength of the correlation; color indicates relative frequency of usage. Underscores (_) connect words of multi-word phrases.

MenvsWomen

 

2. Your age can be determined based on whether you talk about school, work or family.

Age

 

3. Extroverts like to party, introverts like the internet, neurotics use angry and depressed language, and the emotional stable like….basketball?

PersonalityTraits

 

4. Finally, the people in your social media networks who’s updates are negative, profanity-filled, and often tiresome, may rank low on the agreeableness, openness, and conscientiousness scale.

Agreeable

Beyond simply being “interesting”, these correlations will further help communicators and marketers get their message in front of the right audience – You need to know where your audience “lives” before you can influence them. Be sure to check out the full study “Personality, Gender, and Age in the Language of Social Media: The Open-Vocabulary Approach” for the complete methodology and findings.

August 16, 2013

Kids would actually change their online behaviour if they knew their parents were watching [Report]

parents-just-dont-understand

Lately, I’ve been thinking more and more about the relationship between children, their parents, and the Internet. Most of us would probably agree that parents need to educate their kids about getting the most out of the internet while staying safe. The problem seems to be that, although parents worry about their kids, they are unable, or unwilling, to take the necessary steps to create the next generation of Netizens.

The truth of the matter is that the Internet is an 18+ world – always has been. Kids need to be shown early on how to navigate and keep themselves (and others) safe and productive online.

The 2013 McAfee Digital Deception Study explores the online disconnect between parents and pre-teens, teens, and young adults. This 23-page report makes it clear that many parents’ perceptions are out-of-sync with today’s online reality. Some of their findings include:

  • 62% of parents don’t think their child can get into that much trouble online.
  • Only 17% believe the online world is as dangerous as the offline world.
  • Only 20% say they know how to find out what their child is doing online.
  • 74% of parents say they don’t have the time or the energy to keep up with everything their child is doing online.
  • 72% of parents say they are overwhelmed by modern technology and just hope for the best.
  • 66% say their child is more tech-savvy than they are, and they’ll never be able to keep up with their child’s online behaviors.

Really? The majority of parents don’t think their child can get into that much trouble online? Only 20% say they know how to find out what their child is doing online? 74% of parents say they don’t have the time or the energy to keep up with everything their child is doing online? Come on, get with it parents – invest some time (and potentially money) into internet literacy. If you don’t know where to start, simply Google “How to track kids online activity” and start reading. I’ll bet your kids will be at least this resourceful when they are looking for ways to hide their activity from you.

Sure, kids don’t make it easy on their parents to find out what they are doing online. This study also showed that young people use a whole host of techniques to hide their online behaviour from their parents, and less than half (47%) of parents are aware of these measures, which include:

  • Clearing browser history or using a different browser than their parents
  • Deleting IMs and videos
  • Viewing content away from the home and on different devices
  • Creating private email addresses and social media accounts their parents don’t know about
  • Disabling the parental controls

In essence, young people know how to hide their online activity, and most parents are either clueless or unmotivated to do anything about it. The golden nugget in this study, from my perspective, was that the report indicates that nearly half (46%) of these young people said they would actually change their online behaviour if they knew their parents were watching.

Below you will find an infographic with similar stats about social media use by children. It  also contains plenty of stats covering cyber-bullying, sexting, the amount of time a young person spends online, etc. As you might imagine, I was most intrigued by the “Parental Perceptions” section. For example, 72% of parents worry theirs kids will share inappropriate information with strangers online, but only 33% have helped their children establish privacy settings. It seems as though the actions of parents don’t match their anxieties in this case.

Kids and Social Media

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