We may think that social networks only affect how we relate to each other. But they also affect our spending. Let’s see how they do it.
In recent years, social networks have become an instrument of mass communication. So much so that there is increasing talk of a profound change in how human beings relate to each other, motivated by technology.
Surely, if we ask random people about the area in which social networks influence them the most, they would tell us that it is in the area of social and emotional relationships, etc., and this is true. Still, it hides another reality: the importance of social networks in our economy.
Social networks and your decisions
There is no doubt that social networks will affect the way you consume and spend money. Actually, no one related to this type of communication is free from this influence, although it is possible to minimize its effect and impact.
The first thing is to be clear that nowadays, social networks have become one of the most powerful communication tools. That translates, indeed, into the possibility of expanding human relationships. But it has also become an impressive channel of commercial communication in which different products and services are transferred to us at breakneck speed.
Data from surveys on the influence of social networks on the user are increasing yearly. In countries such as the United States, it is estimated that around 70% of people who constantly use social networks are influenced when making decisions.
Europe is no exception to this phenomenon. The main social networks, such as Facebook, YouTube, and Instagram, have become the largest issuers of mass advertising. That has led us to a situation unknown in history in which the commercial bombardment is constant and personalized, something that has never happened at the current level.
How to shop based on social media influence
As users of social networks, we have continuous access to products and services targeted both by our tastes and searches, as well as by the influencers or channels we follow.
It has been a few years since companies became aware of the potential of social networks, and as a result, commercial actions have multiplied incredibly. The social network becomes a product showcase and a commercial ally. The influence of positive comments and the positive follow-up of a brand, a product, or a firm, is a tremendously important stimulus for the buyer.
A good example can be found when, as consumers, we consult the opinions of other consumers about a service or product. The combination of accessibility, information, and trust in the platform lead us to determine that if everyone says it is positive, it must be positive.
There is no single path for the influence of social networks when it comes to our spending, and, for sure, reading these lines, you have imagined more than one scenario in which you are influenced right here. That is not bad in itself. It is also bad if we do not have the tools to understand and process so much targeted information.
How to minimize the influence of social networks on your spending
The answer is simple but, at the same time, not so easy to put into practice in a consumerist environment like ours: rationality in purchasing and tools to avoid wasting our money.
When we are capable of reasoning in the face of a commercial stimulus, we begin to be able to reason in the face of anything, regardless of the quantity. The reasoned purchase is based on elementary criteria such as whether or not you need the product if you can afford it, if you have alternatives, or if, with that money, you can do other more satisfactory things.
It is not easy, especially for those who have not worked on self-control of spending, but it should be an objective that reaches us all.
For years I have studied American finance regulations. All the information in this blog is sourced from official or contrasted sources from reliable sites.
Salesforce Certified SALES & SERVICE Cloud Consultant in February 2020, Salesforce Certified Administrator (ADM-201), and Master degree in “Business Analytics & Big Data Strategy” with more than 13 years of experience in IT consulting.