Industry Research

• People have long shared product opinions with friends and family through word-of-mouth. Today, social media tools enable consumers to extend their connections and conduct commerce in powerful new ways.As people spend more time on social networks, retailers feel pressure to be there. eMarketer looks at how retailers are embracing social media in their new report, Retailers Get Ready for Social Media Experience - eMarketer - October, 2009

• According to the twice yearly Neilsen Global Online Consumer Survey, recommendations by personal acquaintances and opinions posted by consumers online are the most trusted forms of advertising globally. 
  Neilsen Global Online Consumer Survey - July, 2009

• eMarketer estimates there were nearly 116 million US user-generated content consumers in 2008, along with 82.5 million content creators. Both numbers are set to climb significantly by 2013.
  User-Generated Content Creators - eMarketer - February, 2009

• While search clearly dominates the intial shopping experience, peers are the largest influencer when determining what to purchase. 61% of consumers rely on user revews for product information, while only (15%) prefer editorial reviews to guide their product decisions.
  The Razorfish Consumer Exprience Report 2008

• Social technology adoption has increased tremendously in the last year.  Today, 3 out of 4 online adults in the United States use social tools to connect with each other compared to just 56% in 2007. What else has experienced growth? Product ratings and reviews, "voting" for Web sites, and peer-generated video have seen the largest growth followed closely by blogs and tagging.
  The Growth of Social Technology Adoption - Forrester Research - October, 2008