03 October 2013

Facebook And Twitter Do Almost Nothing To Drive Sales

The same day the previous post was tossed up, I read this:

Facebook And Twitter Do Almost Nothing To Drive Sales
by Ashley Lutz
http://static1.businessinsider.com/assets/images/logos/Business_Insider.jpg… "While the hype around social networks as a driver of influence in eCommerce continues to capture the attention of online executives, the truth is that social continues to struggle and registers as a barely negligible source of sales for either new or repeat buyers. In fact, fewer than 1% of transactions for both new and repeat shoppers could be traced back to trackable social links."

A surprise? 

02 May 2011
Click this ad. 0.051% do.

25 September 2012
Twitter & Advertising

27 November 2012
Black Friday, Cyber Monday Surpass One Billion Press Releases

07 December 2012
What is Digital Advertising?

So WOMM is a washout. So are banner ads. 

What the hell are these consumers people doing?  Reading stuff? Looking at pictures and silly videos?  Listening to music? Communicating with each other?  Sharing stuff? Being virtually sociable? 

Where are their priorities?  They are supposed to be viewing and clicking ads, then buying stuff. 

Back to that piece in Business Insider:

Mulpuru didn't study small businesses, which she said do disproportionately well in social commerce.

What’s disproportionately well mean?  If fewer than 1% of transactions are influenced by social media for large businesses and their products/services, does this mean that 1% of social media advertising is influential when considering small business products?  Or would it be fewer than 2%? 

Hardly anybody pays attention to social media marketing blather or banner ads. Most product reviews are useless.

That leaves paid search, email, direct marketing, and something we now refer to as traditional advertising… 

15 December 2006
The Brouhaha Over WOMM
Pretty soon, consumers won't believe anybody - even their best friends. They'll realize that they receive the most honest and straightforward information about a product or service from a TV commercial, print ad, or product web site. At least we don't lie about who we are and why we're saying what we're saying.