Research by Razorfish indicates that 44 percent of consumers who follow a brand on Twitter, and about a third of those who have friend a brand on MySpace or Facebook, do so to get exclusive deals and discounts.

That’s right, consumers may be interacting with brands on social media, but a substantial number are firmly tuned in to one radio station: WIIFM (What’s In It For Me)!

Commenting on the research findings, Garrick Schmitt, Group VP of Experience Planning at Razorfish said (as quoted in Clickz):

“There’s all this talk about social media and conversation, but you forget that what’s at the heart of it for most consumers is actual products and the act of buying products. I don’t think that it takes away from the power of the medium, but I do think that you can’t forget what’s primary in the consumers’ mind in terms of the conversation.”

Motivated by discounts or not, consumers do tend to embrace brands involved in social media. Razorfish’s August 2009 survey of 1,000 U.S. consumers also found that:

• 40 percent of consumers have friended a brand on Facebook or MySpace.
• 26 percent have followed a brand on Twitter.
• 76 percent welcomed brand advertising on social networks.
• 70 percent had read a corporate blog.
• 67 percent had sought out and watched a commercial on YouTube.
• 65 percent had played at least one branded casual game online.

Source: Douglas Quenqua, “Study: Consumers Look to Social Media for Discounts,” ClickZ, November 9, 2009

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