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Social Commerce: What Now?
 

Social Commerce: What Now?

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Social Commerce is a hot topic in digital marketing these days with a lot of questions about the opportunities available to brands through Facebook and how to capitalize on them now. Vikram Sharma, ...

Social Commerce is a hot topic in digital marketing these days with a lot of questions about the opportunities available to brands through Facebook and how to capitalize on them now. Vikram Sharma, CEO of ShopLocal, the retail division of PointRoll, along with Adgregate Markets, the leading social commerce solutions provider, discuss many aspects of Social Commerce including:
• Social commerce as a component of your Facebook strategy
• Future trends in social commerce
• Social commerce vs. e-commerce as a channel
• Marketing tools that tie directly into the Facebook social graph
• The new ShopFans 2.0 social promotion features
• How marketers can generate ROI in Facebook

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  • Lisa Hausman from Gigya said that tapping into the social graph will be a key competitive advantage for retailers in 2011. eMarketer showed us some data released just this month that said friends and “people like you” influence social media users’ purchasing decisions more than anyone else. eMarketer also showed us that retailers using collaborative shopping tools show increased conversion rates, higher average order value, and decreased returns.So what does all of this mean? It means that is more important than ever to leverage the tools available to you and enable your shoppers to have a seamless, personalized and collaborative shopping experience.
  • Localized, Store PromotionsCreate Personalized Experiences and Aid Deal Discovery by leveraging users “Likes” , Friends “Likes” and demographics via social graphSocial Commerce Group Buying PromotionsDeal Exclusivity
  • Wall/Newsfeed PurchasesItems can be pushed to all fans’ newsfeeds with purchase capabilities in the postDrives viral distribution (like, share, post) Enables new users to discover and share products and promotionsRe-engages existing usersVirtual Cart- Users can shop and add items to shopping back- Checkout button can transfer cart to yoursite.com Add jcp
  • Create local, dynamic advertising programs to drive traffic to your fan page and increase brand awarenessProfile matching and targeting based on interest Multi-variant ad generation and optimizationLower fan acquisition costsPartnered with TBG Media, one of the largest purchasers of Facebook Marketplace inventory in the world
  • Personalization and Deal Discovery via social graph “Likes” and Friends “Likes” Create continuous experiences between platforms/devices“Like” and Share products to extend distribution
  • While there are many social networking platforms such as myspace and twitter. The core focus of any social commerce strategy should be placed on Facebook.Facebook, as everyone knows, is growing very rapidly. {CLICK} There are nearly 700 million members, and those users are spending roughly 500 billion minutes a month on the site.{CLICK} This means on average users are spending about 23 hrs per month in the site while being connected to well over 60 pages or groups.As this graph illustrates, retail titans such as walmart and amazon are seeing their traffic reach flat line somewhat; Conversely, as you can see, Facebook is continuing it’s traffic grow an impressive rate. {CLICK} As a result, Facebook is overtaking Google in terms of overall traffic to the site.
  • [DU NGUYEN]Why is social commerce in Facebook so powerful? {CLICK} Well, according to eMarketer, nearly 70% of social network users share recommendations with friends within every few months.{CLICK} So for example say if you had 100k fans each having on average 130 friends, {CLICK} that means that you can potentially reach 13 million people that can be influenced by your social commerce strategy. {CLICK} Now if you take another degree of separation, meaning friends of friends, your reach is nearly everyone in Facebook.So the power of social commerce lies in the ability to turn a small number of fans into an army of advocates and influencers and ultimately purchasers.

Social Commerce: What Now? Social Commerce: What Now? Presentation Transcript

  • Social Commerce: What Now?
    A Webinar Hosted by Adgregate Markets and ShopLocal
  • “Tapping into customer social profile and social graph data—technology available today—will be a key competitive advantage for retailers in the coming year.”
    —Liza Hausman, VP of marketing at Gigya, November 2010
    “Retailers who use [collaborative shopping] tools cite benefits including increased conversion rates,higher average order value and decreased returns.”
    —Social Commerce: Personalized and Collaborative Shopping Experiences,eMarketer, January 2011
    The Importance of Social Media
  • Consistent, Contextual…
    Cross-Channel Experiences
  • Facebook Pages
  • Facebook Ads
    Facebook Ads
  • Facebook Ads: Optimized for Demographics & Location
    Top offer for women over 30, in New York
    Top offer for women under 25, in New York
    Top offer for women under 25, in Dallas
    Same city, different demographics = different top offers
    Same demographics, different city = different
    top offers
  • Facebook Places & Deals: Consumer Experience
    Facebook Deals
  • Social Distribution
    On Your Website
  • Where People Are
    Drive Traffic
    Contextual
    Extend Distribution
  • Social Commerce is Hot
    “If I had to guess, social commerce is the next area to really blow up.”
    - Mark Zuckerberg, Chairman & CEO Facebook (August 2010)
  • Fans become advocates and influencers to their friends
    Assuming you have 100k Fans each averaging 130 Friends1 …
    Your Fans influence 13 million potential customers in Facebook
    The Power of Friends
    If you have 100k Facebook Fans
    They have ~13 Million Friends
    Friends of Friends = Everyone in Facebook
    1Facebook Company Statistics
  • Some of Our Clients
  • Group Deals
    1. Retailer promotes deal with wall post to all fans
    Acquire and convert new customers - friends of fans
    Forces viral distribution of deals
    To unlock deal, fans must share with friends
    To unlock deal, fans’ friends must share with additional friends
    All fans and friends must install ShopFans app enabling tracking and follow-up communication
    Optional deal limits
    Maximum redemptions
    Limited time offer
    Individual unique coupon codes
    2. Fans see deal in ShopFans Group Deals tab
    Old NavyJust in time for Valentine’s Day, 30% off any purchase for you and your friends. Today only! apps.facebook.com/oldnavyshop/
  • Group Deals cont’d
    Isabella WoodWow… enjoy this great deal!
    Old Navy Group Deal
    apps.facebook.com/oldnavyshop/
    Just in time for Valentine’s Day, 30% off any purchase for
    you and your friends. Today only!
    3. Fans allow app to share deal with friends
    4. Friends of fans see deal in news feed (with link back to deal app, continuing viral distribution)
    5. Deal unlocked
  • Wish List / Registry
    Create and share wish lists so your friends can comment or purchase the perfect gift
    Can be integrated with client wish list / registry or independently developed by Adgregate
  • Ratings/Reviews
    Ratings and reviews have been proven to lift conversion rates and interaction
    Ratings and reviews can be integrated with client system or popular 3rd party vendors such as Power Reviews and BazaarVoice
  • Gift to a Friend
    Ability to purchase gifts for a friend
    Birthday
    Just Because
    Anniversary
    Congratulations
    Friend receives wall post and email notifications to enter their shipping address
  • Flash Sale
    Reward fans with flash-sales of deeply discounted items
    Combine with Purchase Notifications to drive awareness of promotion
  • Purchase Notification
    Enable purchase notifications within fan newsfeed with in-wall purchase capability
    Drive viral distribution and awareness of friends’ purchases or special offers
  • Brand Extension
    Launch ShopFans storefronts across multiple facebook pages with custom branding or skinning
    Empower affiliates to host your ShopFans store
  • Social Badges
    Social badges can be used for contests, giveaways, or to reward loyalty with a fun experience for fans
    Could be integrated into client’s loyalty program so badges are “earned” with purchases, shares or likes
    Add a fun and social way for fans to interact with your store and brand
  • Loyalty Program
    Integrate client’s loyalty program
    Incentivize customers to purchase with loyalty programs
    Sign-up new customers to join loyalty program
  • Pre-order / Sales
    Ticketing
    Facebook Like/Share
    Video / Media
    Mobile Social Commerce
  • ShopAds
    • Melds eCommerce and advertising
    • Guaranteed safe & secure
    • Allows users to stay on publisher website
    • Fits any real-estate, expandable option
    1. Browse & Add to Cart
    2. Shipping & Billing
    3. Secure CC Payment
  • Q & A
    Download the whitepaper: How to Turn Conversations into ConversionsTMwww.adgregate.com/whitepaper
    Thank You
    For More Information Please Visit:
    www.adgregate.com or www.aboutshoplocal.com
    or Contact:
    Vikram Sharma- vsharma@shoplocal.com
    Sharon Kelly- sharon@adgregate.com
    Jeremy Stayton– jeremy@adgregate.com