Data Driven Results
What exactly is all the buzz around having a social presence if you’re a brand, business or individual trying to sell products to consumers?
We decided to use all of the data at our disposal with a little help from our (many) clients in order to compile a study that no one seems to have touched on – until now!
More social engagement increases your website sales.
We took sales data from more than 1,000 of our clients, crunched it, and found something pretty epic. The more followers, likes, shares, retweets and social engagements that you have, the more likely you are to convert a website visitor into a paying customer.
Turns out that there’s a direct correlation here that’s pretty hard to deny given the size of the data-set.
As you can see the more social engagement metrics that you, as a brand, business or individual posses then the more conversion power that you have at your disposal. Social presences with more than 10,000 followers, likes, shares, retweets etc consistently hit 30% conversion rates on their sites.
What’s behind this correlation?
Here’s what I think is going on here:
The higher your social metrics the more authority that portrays to your potential customer base.
Customers love it when they see an active social presence from a site that they are about to buy something from.
An active social presence means that they have something or someone to go to if anything goes wrong or they want a fast update on their order or even perhaps want to modify their order for example.
On the flip side of this argument the correlation could just be due to the fact that bigger brands have more authority simply because they’re already established and therefore have bigger social metrics and higher conversion rates.
That’s a pretty good argument – but what about the conversion rates lower down the order, let’s not forget those sites, brands or individuals that have less than around 5,000 of the main social metrics that we measured:
- Facebook likes
- Facebook shares
- Facebook comments
- Twitter followers
- Twitter retweets
- Twitter comments
We saw a huge drop in conversion rate once you get under around 2,500 of the various metrics.
Conversion rates fell of a cliff in this region with most struggling to get above 5% conversion rates.
Once you get above the magic 2,500 region then conversion rates consistently hit 10% across our data set – a pretty good conversion rate.
Long story short, social metrics matter.
It’s pretty clear that social metrics matter when it comes to conversion rates and thus the overall success of your online venture, whatever it may be.
Sure this study looked purely at website conversion rates where sites were selling products both digital and physical but, I think, that the conversion rates studied come directly from authority and trust derived from a healthy social presence – which means that it will apply to all forms of audience engagement across all kinds of websites.
Do these metrics have to be real?
Nope! Don’t forget that we used a data-set pulled directly from our clients here at cloudysocial.com. That means that the majority of the social metrics that are shown in the study are probably 95% fake – i.e. purchased from ourselves.
Those twitter followers, retweets, Facebook shares, likes and more are purchased from us in order to help with exactly what you’ve just read in this study.
To increase conversion rates, make more sales and become more authoritative and successful overall as an online presence.