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Study: Shared content can increase spending by 10%
We know consumers in the social space like to share funny memes and even sale information. But is there a value to this kind of sharing? Yes, according to the new Return on Sharing Study from Beresford Research and ShareThis. That value? About 10%.
There is new data that is placing a value of nearly 10% of social shared online content. According to researchers with socially shared content is now more of an influence to shoppers than either price or brand. What's more, socially shared content can result in a 9.5% spending increase.
"There's no question consumers are actively looking online for recommendations and content to help them decide what to buy," said Kurt Abrahamson, CEO of ShareThis. "We've all known that social sharing is important, but it's been difficult to measure its impact on consumer spending -- until now. For the first time, this report offers a guide for brands to determine the value of social content, and to make informed decisions about where and how they need to invest to engage their customers."
"We are seeing a fundamental shift in consumer purchasing behavior," said Lisa Weinstein, President, Global Digital, Data and Analytics at Starcom MediaVest Group. "The explosion of social content like recommendations is having a real impact in people's day-to-day lives, including what we buy and how much we are willing to pay. While we've known intrinsically that online engagement is important, being able to quantify the monetary value of online recommendations and sharing, as these findings do, is incredibly important for brands."
Some interesting takeaways from the report include:
• Recommendations are more important to shoppers than price or brand
• Shoppers may spend more for 'positively recommended' products
• Negative recommendations decrease shoppers spending
• Online sharing of content outperforms both reviews and recommendations
The full results will be presented today at The Paley Center for Media
Image via Shutterstock
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