Social commerce squishable facebook - 06-09-2012-final
SocialCommerce: Team B: Alberto Iñigo Leandro Magda MabelFriday, September 7th 2012 Till
The story about how a very small team of entrepreneurs engaged 600.000 raving fans through FacebookSource: http://www.squishable.com/s/us
What is Social Commerce? The 6 C’s of Social Commerce Social Commerce is a subset of electronic Content commerce that involves using: Community • Social media that supports social Conversation Social interaction Commerce Commerce • User contributions to assist in the online buying and selling of products and services. Connection Context The reason of being for social commerce is the belief that customers trust one retailer over another when either of them is recommended by others. Examples of social commerce: • Customer ratings and reviews, • User recommendations and referrals, • Social shopping tools (sharing the act of shopping online), • Forums and communities, • Social media optimization, • Social applications and social advertising.Source: http://en.wikipedia.org/wiki/Social_commerce
About Squishable is a six-person company based in New York that makes unique stuffed animals for children and adults alike. - Started in 2007 by designer Zoe Fraad-Blanar and tech entrepreneur Aaron. - It is distinguished by its playful, oversized plushies and top-selling Squishable Panda. - Sold through Squishable.com and retailers across The USA, the stuffed animals cost between $19 and $44. - 600.000 Facebook fans!Source: http://es.scribd.com/doc/97475062/Squishables-Facebook-Ad-Case-Study
’s challenges and goals Launching a new product involves a lot of risk – toy market Uncertainty: will the products be accepted and demanded by its target clients? Budget constraints – production to order Raising awareness for its products Promoting direct participation of consumers in product design 3 21 The decision to search The inherent for a safer way to To raise awareness by risk of ensure that each new children and adults. launching a product will be new product. successful. Sources: http://es.scribd.com/doc/97475062/Squishables-Facebook-Ad-Case-Study and http://www.facebook-successstories.com/squishable-com/
Why ? Facebook covers “The 6 C’s of Social Commerce” (content, community, commerce, content, connection and conversation) Main synergies with Squishable are present on the following “C’s”: Community Connection Conversation- Facebook is the leading platform - Facebook helps define and - “All markets are conversations.” for interpersonal interactions document the relationships. combining pictures, text and - Conversations can surface a videos. - These are a basis for the actions need that could be fulfilled of Social Commerce. (“potential markets”). What did Squishable do?Source: http://en.wikipedia.org/wiki/Social_commerce
Why ?Source: Social Media Optimization is the New SEO with Brian Solis
The current solution Features that drive sales and awareness through Facebook Voting Direct Submit design your feedback SquishableTake your Send a The FuzzySquishable picture with Five: Comic to work your lines with Squishable Squisable and donate actors to charity Social objects = catalysts for conversation and ocurrences Source: Social Media Optimization is the New SEO with Brian Solis
The current solution Consumers’ and fans’ design feedback Direct designfeedback
The current solution Rank of favourite finished designsVoting
The current solution Founder’s team proximityTake yourSquishable to work
Results • 29% of traffic at Squishable.com comes from Facebook. • Facebook is the mean to secure customer demand. A safe way to develop new products as the crowd can indicate their ultimate success. • Highly engaged communities provide word-of-mouth marketing. Fan base growth from 130.000 to 600.000 in one year! • Products are back-ordered for months. • 15 percent of Squishable’s sales are direct sales from Facebook. Digital footprint • Facebook is a cost-effective platform to help build the business: “Out of all our online marketing, Facebook has the highest return on investment,Content distribution lowest cost per conversion”. Engaging Social objects Source: http://ads.ak.facebook.com/ads/FacebookAds/Squishable_CaseStudy.pdf
Recommendations• Differentiate social commerce platforms: develop relevant conversations for each target audience• Invest in online product customization technology via Facebook for consumers to interact and comment design changes in real time• Expand distribution of high ranked and top sellers to retail• Continue adding features on Facebook: • Teaser campaigns for Facebook fans: where is the Squishable in Madonna’s concert today in NY? Win tickets for next concerts, etc.
Meaningful dialogue and collaborative relationships with the people who define our markets A part of social media optimisation – datathat defines other data within the whole web 2.0 ecosystemSource: Social Media Optimization is the New SEO with Brian Solis
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