Top Product Discovery Platforms
Growing a business requires getting sales, and one of the key steps to achieving that is getting your product in front of the most eyes possible. To do that, you need to understand your target audience and their product discovery process.
With more and more people shopping online, the online world is one of the first places to look. The latest statistics show that consumers rely on a wide range of online platforms and sources to discover new products.
At the top of these product discovery platforms is social media ads. More than one in four (28 percent) internet users worldwide say they use them to discover new brands and/or products. With 4.59 billion people on social media, it’s no wonder many consumers’ product discovery process involves social media.
After social media ads, the second- and third-most popular product discovery platforms are recommendations and/or comments on social media and updates on brands’ social media pages. 23 percent and 17 percent of consumers find new brands and products through these mediums, respectively.
Given that the three most popular product discovery platforms are related to social media, there’s no question that it’s where businesses need to be in order to scale. That means that aside from running ads, having a solid social media presence, especially among the most popular platforms, can be an extremely effective way to market your product.
The fourth- and fifth-most popular product discovery platforms are posts and/or reviews from expert bloggers and endorsements by celebrities or well-known individuals. Around 15 percent of consumers say they discover new brands and products through them.
These statistics on buyers’ product discovery process and the impact celebrities’ comments can have on them prove that influencer marketing can be an extremely powerful tool to grow your brand’s reach and boost sales. That said, it should come as no surprise that the influencer marketing market size has been rising steadily over the years and is set to hit $16.4 billion in 2022.
Sixth on the list of the top product discovery platforms is ads on messaging apps. 14 percent of consumers learn about new products through them. Rounding out the list are vlogs and forums/message boards, used by 13 percent and 12 percent of consumers worldwide, respectively.
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