How Social Media has changed the way we buy and sell

How Social Media has changed the way we buy and sell Andy Glover BarCamp Memphis

How did we decide to buy BEFORE the rise of the Internet?

We would... • Look in sales papers • Search catalogs • Go Store to Store • We might also....

We’d ask our friends

This worked, Sort of...

Enter the Internet

Who’s Shopping Online? • 56% are Female • Average Age is 42 • Average Income is $65,000 • Average spent online per Year - $446 Source: http://bit.ly/cmIJtM

But until recently we “shopped” the same way • We look for “sales” • Search online catalogs • Go Store to Store • Ask our Friends...

But then came the SOCIAL NETWORKS

Now instead of asking for help from a small group of friends...

We can ask THOUSANDS of Friends

For the Consumer, this has a lot of beneﬁts... • Access to more knowledge • Faster awareness of issues - Toyota • Easy access to records of retailers • Lots of free advice

Apps and Sites Dedicated to Social “Shopping” • Amazon Recommendations • Yelp • Urban Spoon • Get Satisfaction • Viewpoints.com • Epinions

Social Media gives us • Crowdsourcing of Recommendations • Word of Mouth X 1000 • Reports of Good Experiences but... • Bad News FAST

Before Social Media we would report a bad business experience to the Better Business Bureau

Now, Social Media IS the NEW Better Business Bureau

The Bottom Line: If you don’t have a REAL presence in Social Media, you have NO way to get YOUR message heard!

What can a business person do? • At the minimum • Sign on and search sites for your business name • Claim your business on sites such as Urbanspoon, FourSquare,Yelp, Etc. • Respond to negative posts APPROPRIATELY

Even Better Solution... • Create Accounts on Major Social Media Sites • Actively interact with your customers • Be REAL • Follow Through!

Social Media Has Changed the way we do business

But that can lead to even better business because....

Friends always tell friends....

Discussion/Questions • Andy Glover • email - jglover2@gmail.com • Twitter - AndyG1128 • Linked In - AndyGlover • Facebook - http:// facebook.com/ andyglover • Slideshare - AndyG1128

How Social Media has changed the way we buy and sell

by Andy Glover

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