With the global internet population nearing 3 billion (or 40% of the world population), the digital space has never been so well positioned for you to reach your target market. The question is no longer, ‘does the market exist for my product or service?’, instead the challenge is, ‘how will people see what I am selling?’ coupled with ‘why is my product/service worth my price point?’. Most of us will naturally think that what we offer is worth what we ask, but with a global market place shrunk down to the size of a computer screen, how can we remain competitive within our rapidly expanding markets?

No matter who you are, at some point you will be searching for the best deal for what you want to buy. The internet provides a wealth of information. If you are looking for a new fridge, there are thousands of outlets globally. The question still remains – which one do you choose?

Unfortunately most people think that it whittles down to ‘what features does this fridge have?’ and ‘what’s the best price?’. 5 or 10 minutes of searching and you will have a shortlist of fridges and the compromise will begin. Price vs. features.

You will note that at no point does ‘where’ you are getting these products come into the equation – value for money is key. The solution is reputation. Some of your more savvy purchasers will at some point have flagged what ‘value’ actually means; John Lewis for example have built a brand around only stocking the best products available. So in theory, if you spend your money with them, you will get a quality product. This adds additional layers to the equation. Yes you want the best deal for the most functional product, but you also want clarification that you have indeed made a good decision.

So you start your search with reputable brands such as Harrods, Selfridges, John Lewis ect. Yet buying the same product from cheapfridges.com seems somewhat disconcerting.

Some might argue that this is the death of the salesman, that it is cold and it puts people off internet shopping. They want to be tactile, they want to see it in person, they want to understand what they are buying. Many will find a product online, then pop to the shop and buy it. This trend is dying. For one reason only, ‘online social interaction’.

For all of you with a business, online is your salvation. The salesman’s talk now comes from public review. Unfortunately this doesn’t help in your quest to blag a product or service. What it does do is reward you for quality. Online communities love to get behind something amazing and there are as many blogs, Facebook groups, hash tags and forums, as there are companies selling products. If you can encourage your community to recommend your product or service, you will have the ultimate web advert. In the case of fridges, there are a number of amazingly dull YouTube channels dedicated to nothing more than reviewing the latest fridges. Additionally there are various blogs reviewing the ins and outs of the fridge world and endless conversations on Twitter and Facebook.

Let’s take a look at what this means. Facebook recently broke its own record for active monthly users, reaching 1.1 billion. That’s approximately 40% of the world’s internet population. From this there are 300 million pictures uploaded every day, 2.5 billion content items shared per day and 2.7 billion ‘likes’ a day. If your business can tap into this daily interaction, your customers will be eager to get involved!

Exposure is great, but how does this help? Approximately 46% of online users rely on the social media networks to make a purchase decision. 71% also say that they are more likely to purchase from a brand that they follow.

If you think the above information is only relevant to youth markets then you’ll be in for a shock. The fastest growing demographic on Facebook is the 45-54 age group. Growth is up 46% on Facebook compared to last year and 79% for Twitter’s 55-54 age group.

We love this area of the internet as it allows our clients to have direct and constant interaction with their customers. It’s like placing the salesman on their lap, desktop and in their pocket! You can tell them all about your brand and establish yourself as a market expert – building trust and a healthy relationship will ultimately lead to increased sales.

Remember, this isn’t a market that is slowing. It’s growing at a remarkable rate. Considering that social media and blogs account for approximately 25% of time that Americans spend online, this is a market that cannot and should not be ignored. It’s not a fad, it is here to stay. If you are not making the most of online social interaction, take action now – before it is too late.