When it comes right down to it, price comparison is the single most important factor that drives online consumers to consider and discuss products, services, companies and brands on social networking sites, this according to a recent research study carried out by ROI Research and Performics. The study, titled “S-Net: A Study in Social Media Usage and Behavior,” shows that 59 percent of online consumers surveyed frequently and occasionally discussed price comparisons on social networks like Facebook and Twitter. The percentage marks the highest percentage for any other reason indicated in the study.
The second most cited reason is also related to product and service prices. Discussions about specials and sales came in at a close second, at 56 percent. Surprisingly, providing feedback to brands, companies and retailers, an activity once thought to dominate the behaviour of online consumers, only comes in third, at 53 percent. Obtaining and providing advice on what products and services to purchase and spend for came in fourth, with 50 percent of online consumers engaging in the activity both occasionally and frequently on social networking websites.
Out of 10 options indicated on the study, interactive with customer service personnel came in last, with only 36 percent of surveyed online consumers saying that it’s an activity they engage in. It seems that the activity is shunned by most people these days.
Aside from consumer behaviour regarding products and services on social networks, the study also touched consumer loyalty. Results show that more online consumers on Twitter agree that they are more likely to be loyal to companies and brands they are fans of on Twitter. 16 percent of consumers believe this is so for Twitter—a stark contrast to the 9 percent of Facebook users.
Facebook on the other hand, reigns supreme when products and services related to entertainment are concerned. The highest percentage (46 percent) of Facebook users “like” entertainment-related services and products, which is followed by food, at 41 percent, and clothing and apparel, at 35 percent.