Entries with tag consumer habits.

Researchers Determine Connection Between Social Media Use, Revenue

An international team of researchers from Aalto University, the University at Buffalo, and Texas A&M University say they have proven there is a definitive relationship between customers’ use of social media and higher sales revenue. The researchers showed those customers “engaging” with a firm using social media contribute roughly 5.6 percent more revenue and visit the business about 5 percent more than non-participating customers. They say the work will provide business managers with “a better understanding of the return on their investment in social media.” It also demonstrates the relationship between customer social media use and their purchases. This should enable companies’ social media-based marketing initiatives to be more effective and profitable. Because not all customers use social media, the researchers said segmentation of marketing efforts is important. The work was published in Information Systems Research. (EurekAlert)(Aalto University)(Information Systems Research)

Mobile Shopping Hits $20 Billion

A newly-released study shows that the value of purchases made via mobile devices has reached $20 billion. The report by consultancy Javelin Strategy & Research found that consumers spent about $20.7 billion in the past year using smartphones and other wireless devices. Javelin found that $5 billion of that total was spent via tablets, an amount the firm expects to double within the next three years. The company also said consumer spending per purchase averaged $10 more via tablets than via smaller machines. Javelin based its report on various surveys of mobile-phone and -device owners. (CNET)(Javelin Strategy) 

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