Social media directly influences how we make purchases, according to research conducted by Universal McCann, a global media planning company. In their report, “When did we start trusting strangers?” the company interviewed 17,000 people in 29 countries to see how social media impacts their buying decisions. The leader of the report, Tom Smith stated “This has huge impacts on the way that advertisers and brands have to think about social media – moving involvement from a ‘nice to have’ to an ‘essential to have.’”
Here are some of the stats from the report:
• The top channels for informing people about products and services were Instant Messenger and email, at 44.5 percent and 42 percent respectively.
• Over 29 percent of those polled have commented on a product or brand on a blog
• About 27 percent have posted an opinion about a product or brand on a social networking profile
• People gave their opinions about entertainment most often, with 60 percent having recommended a film and 52 percent recommending music
• Technology was also a big topic to blog about: 57 percent have recommended home technology and 54 percent have recommended some kind of portable technology or mobile phone service on a social media channel
This report shows that everyone that uses social media is an influencer to a certain degree. Of course, some more than others. Many blogs are dedicated purely to reviewing certain products. And, how many times have you recommended a book on Amazon.com or have written a bad review of a Web site that you didn’t get good service from? I know I’ve done both and I don’t consider myself a social marketing guru. That’s the point of social marketing – you don’t have to be a guru, you just have to have your own opinions. And other people will trust your opinion on social media sites.
Universal McCann is using this report to give their clients the following advice:
1. You must participate in social media. If you don’t have a social media presence, you’re toast. (I’m paraphrasing here, of course 
.) Basically, it’s no longer a choice because people are going to be talking about you anyway, so you might as well be proactive and join the discussions.
2. Be transparent. You must be honest and open about how your company works. If you made a mistake, own up to it and control the discussion. If you just ignore it you won’t be able to do any damage control.
3. Invest in your product. People review a product because they had a good experience with it. With the market now being driven by consumer recommendations, the good, responsive companies that have an online social media presence will stand out.
If you don’t get involved in social media, you can’t influence anyone. Traditional advertising and marketing alone won’t do it; people don’t trust companies, but they do trust strangers.
Suggesting that every company should participate in social media does a disservice to both McCann’s clients and other users. It’s not a one-size-fits-all solution. Unfortunately, the use of social media is subjective and must be approached cautiously. With that said, it can be a boon to companies that implement it well.