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If you ever needed proof that consumers are increasingly turning to the wisdom of the crowd to help them make their purchasing decisions, PwC has just released its Global Consumer Insights Survey which shows that social media is the number one choice in online media, beating out mobile apps, blogs, and email marketing, among others.
The challenge for brands and retailers looking to take advantage of this trend is to be seen as authentic and trustworthy, the report states.
“Over the past decade, social media has changed the way consumers and brands interact, giving consumers more of a voice and placing higher demands on brands—to be authentic, respond to consumers’ concerns, be accountable for mishaps, and even take a stand on relevant social and cultural topics. Clearly, consumers’ trust has become more crucial for brands’ success.”
Are you effectively allocating your marketing budget? See below for how other online mediums are faring.