Social networks, social media, user reviews, you name it: They all have a huge impact on consumers looking to book anything from a business trip to a vacation.
The study on this topic, broken down in an infographic by Monetate below, is particularly interesting in how it ties social media power to brand marketing. The science behind this link is well-documented, but many brands could still take more advantage of social networking than they do, and the stats below provide as good an argument as any as to why they should.
Some highlights:
- About 1 billion restaurant visits are influenced by online marketing.
- On Yelp, a half-star rating increase is equivalent to a 19% reduction in available reservations.
- 70% of Americans say they read reviews before taking the next step toward conversion.
So next time Travelocity or Expedia run an ad promoting their website and service, maybe they should think about leading with a hashtag or two. As the infographic points out, it certainly couldn’t hurt.
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