Sunday, October 9, 2011

Efectiveness of Social Media Marketing in Purchasing Consumer Products

Interesting findings of the research we have done on "Effectiveness of Social Media Marketing in Purchasing Consumer Products".
We have conducted a survey on Qualtrics by sending 25 questionnaires. Total 66 people participated in the survey. Participants were selected based on convenience sampling. 7 responses were rejected due to incompleteness. Out of 59 responses, 30 were male and 29 were female.

Findings of the survey:
1. Women aged 20 - 29 are more likely to be influenced by social media marketing to purchase a product or service on social media networks than women of other age groups.

2. There is a direct correlation between the amount of time spent on different social media networks and the likelihood that the user will be influenced to purchase a product or service based on social media marketing.

3. There is a positive correlation between the likelihood of a consumer to purchase a product or service on social media network and the frequency with which their immediate network (friends) writes reviews on a product or service.

4. A person’s disposable income has insignificant influence in purchasing a product or service on social media networks.

5. The recommendation of a celebrity has little influence in purchasing a product or service on social media networks.

Please contact me if you would like to see detailed report with nice charts/graphs.

Thanks
Ashish