Does Social Media Marketing convert people into actual buyers?

YES, very true but especially for Retail Products.

I believe it is supposed it while it might not always do convert prospect customers into real buyers.

Social Media is the Hybrid Element of the traditional Marketing Mix (Price, Product, Production, Place), which means that on Social Media you can touch on all those four parts being on the same channel. Now converting the users to actual buyers is not as simple as black and white. Even trying this direct selling on social media (e.g. Facebook posts asking to follow the links) will only give negative results.You have to think of this as the Social Currency creating value from the activities on social channels and then define the right KPIs & Metrics to derive value from this Social Currency. This is a journey of defining strategy, processes and choosing the right tools to achieve your goals.If you have specific questions on any part of this process I'ld be more than happy to answer to the best of my knowledge :)@ZeshanAJaffari 

Do you know Second Moment of Truth? it is a marketing concept developed by P&G in late90th for retail products.

First moment of truth, when the consumer inside the retail, in front of the shelve to decide which product to buy. Second moment of truth is when consumer try the product.

Social media comes here, when consumer try the product and start to tell other about his/her experience about the product, then others can start buy the product

Now, the question is how to make consumers talk about your product in the social media?

Hope it helps!

@Digital_tour

Yes it does.

Yes it's True...

As Social Media acts as a sales person online creating a two way conversation with the actual customers, it can definitely convert people into actual buyers.

nowadays it's so essential and sure it does

I think Social Media can scoop buyers for some products, but in general digital marketing (including social media) cannot build a brand, or is greatly challenged to do so.  As an added element to more powerful marketing strategy, it can deepen the conversation with the customers, but banner ad blindness makes it hard to really do business as a medium on it's own.  Could be a generational thing, perhaps, but as a Gen X'er, I have never in my life, clicked on a digital ad and bought something.  I can't recall a single digital ad this week or last.  I can recall many good ads on radio, TV & Billboard that are memorable, and make an emotional impact.  Digital ads have trouble doing that, which is why pre-roll is so desired digitally - it uses the strength of video like Television does.  So, while digital may scoop up leads and may even be profitable, the average Joe still doesn't know your company, what the brand stands for, or have an emotional connection that makes him want to buy.