Specifically, the study by Chadwick Martin Bailey and iModerate Research Technologies found that consumers are 67% more likely to buy from the brands they follow on Twitter, and 51% more likely to buy from a brand they follow on Facebook. Moreover, they’re 79% more likely to recommend their Twitter follows to a friend, and 60% more likely to do the same on Facebook:
Of course, those findings might be a bit overstated — many people actively seek out the brands they’re already fans of and follow or fan them on Twitter and Facebook. But there’s still much to be said for the mindshare that engaging those existing brand enthusiasts on social media sites creates, in turn keeping them active. Plus, the study also found that many consumers across a wide variety of demographics have negative perceptions of brands that aren’t using social media.
Overall, the study is another sign that social media is becoming a competitive advantage for those that are participating, and an increasingly major weakness for those that aren’t.