Price Comparison Top Reason for SocNet Product Discussion

June 9, 2011

roi-research-product-discussion-frequency-via-social-networks-jun11.gifComparing prices is the top reason online consumers discuss a product, service, company or brand on social networking sites, according to an April 2011 study from ROI Research and Performics. Data from “S-Net: A Study in Social Media Usage and Behavior” indicates 59% of online consumers discuss price comparison occasionally or frequently on social networks, the highest percentage for any reason the study offered.

Number Two Reason Also Price-Related

The number two reason for discussing a product on a social networking site, talking about sales and specials (56%), is also price-related. This is followed by providing feedback to a brand or retailer (53%), with giving advice and getting advice on what to purchase tying with 50% of social consumers occasionally or frequently doing both on social networking sites.

It is interesting to note that of 10 options, connecting with customer service was by far the least popular (36%).

Twitter Fans Show More Loyalty

performics-fan-loyalty-june-20112.JPGTwitter fans are somewhat more likely than Facebook fans to agree with the statement, “I am more loyal to companies and/or products I’m a fan of on Facebook/Twitter than I’m not a fan of.” The difference is most pronounced among those who strongly agree (16% of Twitter users and 9% of Facebook users, making Facebook users 44% less likely to strongly agree).

In addition, 30% of Twitter users and 25% of Facebook users somewhat agree. Facebook users also have higher levels of disagreement, and are roughly twice as likely as Twitter users to strongly disagree (11% compared to 6%).

Comparing 2010 results to 2011 results, the two most notable changes both occurred among Twitter users. Twelve percent of Twitter users strongly agreed they are more loyal to companies they are a fan of, marking 33% year-over-year growth in this answer. And 11% strongly disagreed with the statement in 2010, meaning this figure dropped by slightly more than half in one year.

Facebook Users Most Likely to Be Entertainment Fans

performics-facebook-fan-company-type-june-2011.JPGLooking at the different kinds of companies/products Facebook users are fans of, the study finds the highest percentage (46%) are fans of entertainment-related products. This category is followed by food (41%), restaurants (40%) and apparel (35%).

Service providers tend to be among the least popular categories, including categories such as educational institutions (22%), telecommunications (19%), and financial service companies (15%).

Twitter Users More Likely to Follow Thru

performics-facebook-fan-discuss-june-2011.JPGTwitter users are more likely to follow through on being a fan of a product or service than Facebook users. For example, 61% of Twitter users say they are more likely to talk about a service or product since connecting with it on Twitter, 24% more than the 49% of Facebook users who are more likely to do so.

Twitter users show higher rates of follow-through likelihood on every activity listed by the survey. Most significantly in terms of probability differential, 47% of Twitter users are more likely to attend a promotional or sponsored event, 38% more than the 34% of Facebook users who are more likely to do so.

LinkedIn Seen as Most Important SocNet

While Facebook has the highest engagement rate of the “big five” social networks (Facebook, LinkedIn, MySpace, Twitter, YouTube), the highest percentage of online consumers think having a LinkedIn account is important, according to other study data. Fifty-nine percent of online consumers rate having a LinkedIn account 4 or 5 on a five-point importance scale, compared to 53% giving this level of importance to having a Facebook account.

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