Meeker’s Internet Trends 2018 report has a catchy headline statistic: 55% of Americans are buying products online after discovering them via social media.
So, what are the real implications of that 55% stat?
What it counts
The data is drawn from the Curalate Consumer Survey, run in August 2017. This data point reports on respondents aged between 18 and 65 years.
The wording of the question clearly established that 55% of the respondents bought a product online after they’d discovered it on social media.
In fact, the data is broken down even further. With 44% of respondents went back to complete their purchase ‘later’, while 11% bought the product immediately.
What it doesn’t say
The 55% result may come as a surprise. To add to its shock factor, the statistic does not even try to capture the number of purchases made offline (eg in store) after having found a product through social media.
But, be careful to not read too much into it. For example, it does not mean that 55% of social media discoveries convert into sales.
Each respondent may have discovered dozens of products via social media. To be counted in the 55%, they only need to have bought one of them. The other dozens of discoveries might have been dismissed or forgotten.
Do you push product discovery content through your social channels?
Copy Transmission is a Melbourne-based agency :: Better Brands. Loud & Clear.