Just as advertisers get value out of social media, so do the consumers that use these sites. The uses of social media differ between different groups of people but value is gained for the consumer any way they decide to utilize the medium. Social media users interact with different sites and everyone uses the medium differently, but no doubt, the technology is being used. Between 2011 and 2012, time spent on social media went up 37 percent (Shea). Whether it’s to connect with family and friends, meet new people, to keep up with a favorite celebrity, brand or company or to have a convenient place to get news, social media users spend a lot of their time on these sites either on their mobile phone, tablet or computer.
With social media, consumers get more of a voice and get the chance to interact with brands and advertisers more than ever before and on an instantaneous basis. Consumers have some power and can post positive and negative reviews of products, brands, restaurants, stores, and services, both local and national. 87 percent of Facebook users “like” brand page; 75 percent of those people feel more connected to a brand on Facebook. The biggest motivator of consumers to “like” a brand, 34 percent of brand liking users, is so they can get promotions and discounts on products. 77 percent of “brand likers” have saved money because they liked the product on Facebook (Murphy). Consumers are getting satisfaction and savings out of following brands; this is a value of social media that consumers are seeing in the online practices. Consumers are also getting better and more up to date information via social media regarding brands and products, giving them more confidence when they make online purchases.
What else do consumers get out of social media? Matt, who works in the industry, was asked the question of value many times so he strove to figure it out for himself. He came to the conclusion that social media is truly what the user makes out of it and only they can say what the true value is for themselves. Whether social media users find value in talking to family and friends, keep up on current events, post pictures of everything they do or find new information that wouldn't have been discovered without their social media network, value is in the eye of the user.
Over time, social media users have gone from focusing the time creating content and communicating with friends to being more passive and digesting content from sources they trust. In September 2012, 22 percent of Facebook users that visited the site did not make a contribution (Bosomworth). This could be an evolution in how consumers are using social media and could explain the popularity that Pinterest has enjoyed. With newer social media sites like Pinterest the value to the consumer comes with the organization of Pinterest. The goal isn't necessarily to create new content on Pinterest; it is more about curating existing content that the user finds interesting or helpful in some way and organizing it to fit their needs.
All things considered, I am intrigued by Matt’s assessment and believe it to be the best explanation of the value of social media. So many people use the features of the websites/apps differently and for their own pleasure. What I get out of social media isn't necessarily what my friends, family or a stranger get out of social media; it’s all what the user makes out of it. Social media users can be the creators of content, consumers of content, or do a combination of the two.
Sources
- Bosomworth, Danyl. “Will Social media become a Broadcast Channel?”. Smart Insights (Marketing Intelligence) Ltd. 11 Oct. 2012. Web. 17 Dec. 2012.
- Matt. “What is the Value of Social Media?”. MWilbanks.com, 2012. 20 Feb. 2012. Web. 17 Dec 2012.
- Murphy, Samantha. “50% of Consumers Value a Brand’s Facebook Page More than its Website”. Lab 42, Market Research. Smarter. 24 Sep. 2012. Web. 17 Dec. 2012.
- Shea, Erin. ”30pc of Consumer Mobile Action Tie to Social Media: Nielsen”. Napean LLC, 2012. 5 Dec. 2012. Web. 17 Dec. 2012.
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