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Social media 'influencing purchasing decisions' 05/12/2009 Social media's influence on buying decisions is growing (Craig Nicholson)

Consumers are increasingly using social media to assist them with their purchasing decisions, a new survey has revealed.
 
Research by LexisNexis showed that, in the last year, 60 per cent of the 1,002 people that took part in the survey have opted not to buy a product after reading comments on the internet.
 
Around half (50.4 per cent) of those questioned said they would share their views on the web if they were dissatisfied with a product or service, while 57 per cent are more likely to publish such information online now than they were at the same time last year.
 
Bob De Laney, director of news and business at LexisNexis UK, said that companies need to do more to monitor the strength of their brand online, advice that may be of use to internet marketing consultants.
 
Noting that 67 per cent of respondents have not had a response from a firm after posting negative feedback on the internet, he remarked that there is a "massive missed opportunity" for companies to engage with unhappy customers.
 
"Regular and comprehensive monitoring of online sites and social media would enable companies to pick these comments up and proactively act on them," he stated.
 
A recent survey by eBay showed that the majority (79 per cent) of bricks and mortar retailers believe their business has been saved by the introduction of online shopping. 
 
 
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