Many estimates have been made about the combined impact of the Internet, e-commerce and social media on consumer's purchase decisions. Conventional wisdom holds that the opinions and recommendations of people in our social networks have significant and measurable impact on consumer behavior.
The return on a share study commissioned by ShareThis confirms the conventional wisdom and calculates the monetary value of different form of recommendations using scientific methodology. The study shows clearly that online recommendations trump brands and price when consumers make decisions and that the most important aspect of a recommendation is its strength.
Take a look at this infographic that presents some of the key finding of the study.
Top image via: istockphoto