Kick off each Monday with the best news and ideas in social media.
Study: Positive Online Sharing Increases Purchase Intent By 9.5%
Ever wonder how much that glowing social review from your fans is worth? Turns out it’s anywhere from $0.33 for a non-branded grocery item to $8,560 for a luxury car review by a close friend or family member.
Social data and sharing tool ShareThis performed a study alongside the Paley Center for Media that took a look at the value of social sharing across a variety of mediums. The overall blended lift showed that excellent online shares lead to an overall 9.5% lift in purchase incidence.
The report segments the data by supermarket, min-tablets and automotive shares with vastly different results for each. One fact was certain though, online sharing beat general consumer reviews and ratings across the board. The value of a share for each specific segment is as follows:
- Non-branded Supermarket item: $0.33 recommended by a stranger
- Mini-Tablets: $22.18 – 28.33 depending on the device and who shared it
- Kia Rio LX: $1,487 from a close friend or family member
- Jaguar XK: $8,560 from a close friend or family member
While the close online share is great, it doesn’t replace in-person vouching or the professional review. Online shares (9.5% increase in purchase intent) fell third behind in-personal recommendations (10.6%) and professional reviews (10.2% increase).
It turns out that the higher the cost, the more due diligence a consumer prefers. With smaller items such as a tablet, an online share is equivalent to that of a professional review. A luxury vehicle, however, has a 9% discrepancy, favoring the professional reviewer.
Oh, and those negative reviews? They hurt. Online shares cause more damage than a professional review when it comes to product desirability. The negative online share damage is only slightly less detrimental (-11% drop in desirability) than in-person (-11.2%) and consumer ratings/reviews (-11.3%/-11.2%):
To view the full data on the report, head on over to ShareThis.
Images used courtesy of ShareThis.