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By Adriana Notton
Today, more people than ever are choosing to shop for products and services online. The result has been an increase in online impulse buying. The rise of impulse buying on the internet is due to a number of shopping features such as easy access, the availability of many more items, use of credit cards, and the success of marketing promotions and direct marketing. Businesses are now using social media sites such as Twitter and Facebook to market their products.. Businesses have been able to convince consumers to make more impulse purchases and therefore, increase their online spending.
With the astounding popularity of social media sites such as Facebook where there are about five hundred million users, businesses now have another way to interact directly with potential customers to promote their products and services and this interaction can reach millions of online users. Google, Facebook, Twitter, and other social media outlets make it easy for business marketers to track consumer preferences, behavior, and trends, which allow them to directly target users and offer products and services they specifically want. As well, their marketing strategy includes offering special deals to further encourage impulse buying.
When utilizing social media to reach online users, marketers have the ability to schedule specific campaigns when specific products are selling well. Since social media trends are changing all of the time, businesses can track the emerging trends, which give them the ability to launch promotions that will enable them to more successfully sell their product or service.
Now, social media sites are offering easy shopping access. Companies are developing promotional tools to take advantage of impulse buying from the social media page or through user mobile devices. Companies are now beginning to provide a way for users to buy their products direct from the social media page and social media sites are implementing better filters which mean the targeted customer can be reached much more easily. As well, because social media is now moving into the mobile world, marketers can reach consumers wherever they are and at anytime of the day and night.
Now, as more and more consumers are sent sales and support information and get updates from social media, businesses can effectively tailor marketing campaigns based on their distinct shopping habits and preferences. Many analysts believe in the near future, social media pages will no longer be controlled by the user, but the marketer will control their social media followers and the advertisements and promotions that appear on their social media page.
Social media has changed the way businesses market their products and services. With a few clicks and a credit card, consumers can buy any time from anywhere. The financial implication is there will be an increased rate of impulse buying which will result in more people taking on more debt. Shopping online using social media has become so easy today, the consumer must develop prudent shopping skills to avoid accumulating too much credit card debt that can eventually result in financial ruin.
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