Social media can be a powerful tool for any business, but it is having a tremendous influence on the annual holiday sales season, and “Black Friday” in particular. In our “infographic of the week,” the researchers over at Mr Youth took a look at the numbers to show us just what kind of an impact social media had on retailer’s bottom lines. The results are pretty interesting. Items of note include:
- 66% of those that purchased items on “Black Friday” or “Cyber Monday” did so as the result of a social media interaction (Facebook, Twitter, Google Plus)
- Recommendations from social media users are two times more likely to lead to a holiday gift purchase
What are the implications for your business? If you’re in a consumer-oriented business, you need a solid social media strategy so you can connect with and influence your customers. And even if you’re not in a retail space, social media can still help you with connecting to your customers and building a community (see post: Social Media Strategy for B2B Companies).
Infographic courtesy of MrYouth.