Wednesday, June 22, 2011

Search and 2.4 billion brand conversations every day in the US

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.

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