Wave 7, an annual social media study conducted by Lodestar UM, states that even the most superficial social interaction online is driven by a consumer need. Wave's seven years of analysing social behaviour online has also revealed the five key needs underpinning all social interactions. These include relationship, diversion, progression, recognition and learning.
"Consumers are entering into a 'value exchange' with brands that meet these needs; they are happy to disclose personal data if it means they receive a better online experience. Whilst these five basic needs don't change, the ability of technology to meet them is in constant flux - and brands need to understand exactly what consumers want from different devices. The growth of the smartphone in particular is transforming both the device and the social platform landscape," states the study.
Wave is based on data on active internet users from 65 countries representing over 1 billion active internet users. It is an invaluable tool for brand marketers eager to stay informed about social media trends and consumer insights.
The report claims that it's no longer enough to simply track the latest trends because much of what we see is background noise or worse, a complete distraction. What we really need to do is understand the motivations behind these trends and only then look at when and how consumers are doing them.
Find the entire study below: