Why is Social Proof Important?
When it comes to making purchasing decisions, we want to make sure we’re informed about what we’re about to spend our precious budget on. That’s why we watch videos of people using the product, read reviews, and ask our peers before pressing the “place order” button.
This is why businesses try so hard to get testimonials or reviews of their products and services. Social proof is a valuable component of any business strategy because, in a few words, it gets the business more sales.
Types of Social Proof
When a thought leader in their industry approves a product online, chances are that their audience will start buying that product. Because it’s approved by an expert, it means it’s worth buying it.
We see celebrities endorsing dozens of products every day on their social media profiles. Even though we don’t buy those products right away, their recommendations are certainly going to influence our purchasing decisions next time.
Whenever a user has a positive experience with a business, they’re most likely going to recommend it to their friends, leave a positive review, or tweet about it. Turning the audience into brand evangelists is the most powerful way to spread the word about a business.
4. The wisdom of your friends
The recommendations of people we know and trust work as the most effective advertisement. The positive experience that our peers have with a brand can easily influence us to purchase their products or services.
5. The wisdom of the crowds
As a brand, having millions of followers on social media means that you’re doing something right. This type of social proof appeals to our sense of fear of missing out, so we start following that brand, to see what’s so cool about it.
If a business has won numerous prizes in the industry, we assume they are experts, so we start building trust around the brand.