Social media marketing is fast becoming one of the most influential tools a promoter has access to, a company has claimed.

Online resource Social Marketing Explosion has stated that 80 per cent of American consumers look online for information when considering purchases worth more than $500.

"The importance of social media for every business cannot be overlooked. While traditional media continues to decline, social media continues to grow exponentially," the company asserted.

By using social media as a marketing platform, firms can boost transactions and decrease the time it takes to reach a sale, the statement by Social Marketing Explosion added.

Earlier this month, Josh Bernoff, writing for a Forrester blog, commented that investing in social marketing during a recession could be a sensible move.

He suggested that more general adverting will lose its effectiveness as people’s finances become tighter but that social media builds consideration of a product rather than simple awareness.