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Turn Social Shares Into Sales - By AddShoppers
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Turn Social Shares Into Sales - By AddShoppers

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Here at AddShoppers we're dedicated to helping you understand how you can take your business to the next level by utilizing social media marketing. In doing so we've created a presentation that we …

Here at AddShoppers we're dedicated to helping you understand how you can take your business to the next level by utilizing social media marketing. In doing so we've created a presentation that we hope sheds some light onto how you can turn social into sales.

Published in: Social Media, Technology, Business

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  • 1. From pins & likes to sales & orders. Written by: Mitchell Abdullah Designed by: David Shackelford
  • 2. eCommerce is on the rise . eCommerce now accounts for ~6% of total US retail spending (Government Census) The second quarter of 2013 marked the 15th consecutive quarter of positive year-overyear growth in US ecommerce sales
  • 3. Social media is too . 27% of time spent online is on a Social Media network (Experian) Social Media has overtaken porn as the #1 activity on the web… or so I’m told. (reuters)
  • 4. And the “attention” race is on! . Everyone is fighting to grow their audience and customer base on social media Approximately 46% of online users count on social media when making a purchase decision. (Nielsen) 71% of social media users are more likely to purchase from brands they follow online. (Balihoo) Social Media marketing budgets are expected to double over the next 5 years.
  • 5. Where to start? . Identify which Social Networks are right for you. Spending time and money promoting to the wrong audience is wasteful. Image source: http://socialnewsdaily.com/14097/social-media-the-new-face-of-disaster-response-infographic/
  • 6. People don’t buy products they buy stories. . Don’t skimp on quality Be yourself Portray your brand’s personality Be consistent Show why you’re different
  • 7. Social growth strategies . Leverage existing audience Engagement Utilize partnerships Advertising Shareable content Influencer outreach Promotions: -Incentives/Discounts -Contests/Giveaways
  • 8. Leverage existing audience . Friends/Family Site visitors Email list Advantage: Easy first step
  • 9. Ask Partners . Ask for a social mention Co-promotions Advantage: Easy & Repeatable. On average social posts obtain a 52x increase in reach when syndicated by channel partners (Source: Zift Solutions)
  • 10. Focus on content... . High quality Easily shareable Different Authoritative Frequent Relate to the interests of your target audience Advantage: Helps establish your brand’s personality and trustworthiness
  • 11. Engage . Follow potential customers Join conversations Start conversations Answer questions Ask for opinions Reply to inquiries Build relationships Advantage: Highly targeted towards potential customers and influencers
  • 12. Incentive . Facebook ‘Like gate’ Discount programs Advantage: Increased following and conversion rate image source: http://www.whatcounts.com/2012/09/cross-promoting-with-social/
  • 13. Social Giveaways . Lighting NY Results: 167% increase in sharing 213% growth in clicks 214% growth in influencers 100% increase in orders View case study or view their testimonial. Advantage: Great for publicity and rapid growth
  • 14. Advertising . ! Social amplifying advertisements (FB News Feed Ads/Twitter Sponsored Tweets) Social PPC/Retargeting Sponsorships Social mention/inclusion in traditional advertising channels Advantage: Even higher potential customer targeting
  • 15. Social Retargeting . Leverage your social data for even better targeting Targetable social actions forecast purchase intent, enabling high ROI campaigns Learn More about Social Retargeting
  • 16. Influencers . Locate people with large followings/authority who’s audience fits your target demographic. Helpful tools: Advantage: Increased AddShoppers’ influencer analytics FollowerWonk (Twitter) Circle Count (Google+) Technorati Klout Peerindex authority/trust with potential customers Who these people might be: Industry leaders Social media mavens/enthusiasts Bloggers Average Joes Moms
  • 17. REPEAT! . All of these tactics are not only initial audience drivers but continual/repeatable social growth methods.
  • 18. Quick On-site Social Best Practices . Top fold button placement Call to action if possible E.g. Share for coupon, Share To Enter, Share & Save, etc. De-emphasize or remove underperforming networks Drive engagement with social interactions: Social Contests, Post Purchase Sharing, Discovery Wall
  • 19. Social sharing/social buttons . Building and marketing to a following is only half of the battle. The second half is getting potential customers, customers, fans, and visitors to market your products for you. The average social share drives $2.04 in revenue. Source: AddShoppers Stats
  • 20. Simplicity - less is more . Make social buttons easily available, near the content & above the fold Make content easy to share Utilize correct schemas and markups Remove social buttons to networks you don’t target Result: Less hesitation and resistance to share. Image source: http://WhatisBlik.com
  • 21. Quality > Quantity . Instead of trying to force people to share as much as you can get them to, give them content they’ll want to share and reshare -Images and content needs to be of the highest quality. -Focus attention on the products people are interested in instead of the ones you’re trying to quickly unload. Result: Increased re-shares in addition to increased click throughs
  • 22. Growth hacking . Pinterest: Pinterest pin and follower exchange: Pinwoot Join large follower group boards Pinterest “Laddering” Twitter: Twitter follower exchange: Twiends Twitter auto favoriting software Ifttt/Hootsuite/buffer - Automated and scheduled tweets Paper.li Exchange programs work when well managed. NEVER! buy followers for $ though.
  • 23. Product Discovery Wall . 3tailer.com/discover Present popular products to increase the likelihood of sharing. Increases site engagement, pageviews, and average order values
  • 24. Incentive - everyone likes a bribe . O’Neill clothing offered a 10% off for sharing reward and received back $18.76 in revenue per share, a 1,535.3% return on investment. Read this case study Result: Greatly increased social share counts & increased customer conversions
  • 25. Sharing contests . Examples: Pin to win, like for reward “We had two goals when we started this contest: to add emails to our customer email list and to increase product sharing/promote our new product sharing capabilities. We needed a way to track unique product shares and to link those influencers that shared to the contest. The contest (using AddShoppers) yielded a 167% growth in social sharing, 213% more clicks, and a 214% growth in influencers. We also saw our orders increase by 100%.” - -Cody Kratzer, Lighting New York
  • 26. Bonus: Increase Re-shares Utilize social network specific schemas for higher quality posts: -Rich Pins (Pinterest), -Twitter Cards -FB Open Graph Image source: http://moz.com/blog/meta-data-templates-123
  • 27. What metrics should I focus on? . While likes and followers are great indicators of brand awareness and brand growth and are really only indicative of overall popularity. Popularity doesn’t write checks. The metrics that you want to know: Revenue per share Social conversion rate Social ROI
  • 28. What is revenue per share? . Value per share is the calculation that dictates how much revenue was generated because of that share. Example: When Steve shares Product X to twitter, two people click the link and one person buys Product X for $10. The revenue generated from that share is $10. Easy way to calculate average RPS: Revenue from social / Total social shares
  • 29. Utilizing revenue per share . Knowing your RPS per network can help you understand which social networks will bring in more revenue per share, allowing for the elimination of ineffective networks. Your RPS also allows for you to understand the potential around contests, promotions and discounts. For example, if you realize that for every pin of your products you’re getting $4 in revenue you can make the simple decision to offer a $2 discount per share. Ultimately gaining additional revenue, new customers, new followers, an increase in social shares, and boosting your conversion rate…. All without risking a dime.
  • 30. What is a social conversion rate? . Social conversion rate is the % rate at which someone will purchase based on a single social share. Social Conversion Rate: # of Orders Social Shares
  • 31. Utilizing social conversion rates . Social conversion rates define which social networks are truly interested in your products. The higher the social conversion rate the more likely someone on that network will buy the product. If a social conversion rate for a network is oddly low, this opens up the opportunity to investigate further. In the case of an oddly low social conversion rate, your investigation and experimentation could open your eyes to potential issues that you were encountering on that social network. For example: The way that your data is displayed could dramatically increase conversions… increasing revenues!
  • 32. What is social ROI? . Social ROI is your return on investment (ROI) through the efforts and capital that you’ve applied towards social media. ROI = Amount of financial gain Total investment amount
  • 33. Utilizing social ROI . Social ROI helps you know if you’ve gained money on a promotion or not. Continual tracking of social ROI will allow for you to reformat and repeat your successful promotions and campaigns.
  • 34. Thank You . For more information or to sign up for a free account and begin tracking your social ROI go to: www.AddShoppers.com/pricing/ Please share this presentation: If you have any questions or comments please CLICK HERE.

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