Consumers go for products with social media buzz

Consumers and business buyers are willing to pay up to 10 per cent more for brands that offer interesting content and engaging social media experiences, research finds.

Two thirds of consumers (67 per cent) are more likely to buy from brands whose content they enjoy, even if it costs them between 5 and 10 per cent more than from a brand that doesn’t publish content or engage in social media, according to a study by Axonn Research.

Some 68 per cent of respondents are willing to supply contact information in exchange for premium content such as white papers with more than half (56 per cent) happy to give brands their details.

Nearly three quarters of content marketers say their efforts have led to an increase in traffic to their websites, while more than half (55 per cent) credited content marketing for an increase in sales.

The most widely used content type is social media (88 per cent), followed by email campaigns (77 per cent), news articles (71 per cent) and blog posts (64 per cent).

The research also finds that nearly two-thirds of marketers (65 per cent) simply don’t have enough time to execute their content marketing strategies effectively, with a lack of human and financial resources and expertise cited as the main constraints.

Axonn Media CEO Fergus Parker says that since the term’s inception in 2009, ‘content marketing’ has become one of the main ways organisations attract and engage with their online audiences and this data shows this is paying off with increased sales.

‘It’s important for businesses to note that their online efforts are being rewarded with a willingness among consumers to pay 5 to 10 per cent more for their goods and services, which can make a real difference to the bottom line.

‘As is often the case a lack of time, finance and expertise were cited as the main reasons why firms didn’t interact more with their target market, something which business leaders may wish to look at in light of this positive new data.’

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