Google's blog text says there are 2.4 million conversations about brand in the US each and every day. That's a typo. The video illustration and the narrator says it's 2.4 billion.
I pulled the following stats too:
- Word of mouth conversations happen; 82% face to face, 12% on the phone, 5% online and 1% other.
- Among online activities; 15% of all conversations are sparked by search
- Conversations about brands are 25% more credible when they're informed by search compared to social
- Conversations about brands are 17% more likely to lead to a purchases than conversations informed by social media
- Google searches directly inform over 146 million brand conversations every day (in the US, I assume)
- Online channels before, during or after a WoM conversation; search 15.4%, e-commerce 7%, brand website 3.2% and social media 3.2%/li>
I know this is a pro-search study but I think social media does very well. I'm surprised that the likelihood to purchase from a social media interaction is so high. According to this study there's less than a 20% difference (17%) on the buying rate (long form conversion) on social than search. I suspect most retailers will see a much bigger conversion difference on their social traffic compared to their search (but this is short form conversions).
It also seems that US consumers are equally likely to go to a social media presence as they are to go to a branded website after a conversation about brands. That might be hard to hear if you've spent millions on your branded website and thousands on your social media presence.