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5 Social Shopping Trends Shaping the Future of Ecommerce

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Today's consumer is more social than ever. Merchants need to understand how the anywhere, everywhere shopper is finding, sharing, learning and leveraging social tools across channels including ...

Today's consumer is more social than ever. Merchants need to understand how the anywhere, everywhere shopper is finding, sharing, learning and leveraging social tools across channels including Facebook and other online communities.

In this webinar, Lauren Freedman, President of the e-tailing group, and PowerReviews' Cathy Halligan will review new consumer research from the 2011 Social Shopping Study, revealing 5 social shopping trends to help shape your 2012 social strategy.

In the 60-minute webinar, you'll learn:

Where today's consumer shopping journey begins
Which social tools matter most in the research process
Why Facebook and other online communities are so important
What role mobile plays in changing dynamics of shopping behavior
How to most effectively market to the social savvy shopper

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5 Social Shopping Trends Shaping the Future of Ecommerce 5 Social Shopping Trends Shaping the Future of Ecommerce Presentation Transcript

  • 5 Social Shopping Trends
    Shaping the Future of Ecommerce
    August 18, 2011
  • Today’s Speakers
    Lauren Freedman
    President, the e-tailing group, Inc.
    Cathy Halligan
    SVP, Sales & Marketing, PowerReviews
    • Executive level roles in world class, growth oriented companies: Walmart (CMO walmart.com and VP Market Development Global eCommerce) Blue Nile (VP Marketing) Williams-Sonoma (VP/GM eCommerce & VP Marketing), Gymboree, (VP Marketing) & Prophet (Associate Partner)
    • Quoted on executive topics, retail, B2B commerce and the social web topics. Bloomberg West TV, Wall Street Journal, New York Times, Investor Business Daily, Forbes.com, Bloomberg BusinessWeek, Tech Crunch, Internet Retailer
    • 16 years ecommerce consulting
    • Author, It’s Just Shopping
    • 50+ years traditional retail and catalog experience
    The Voice of Cross-Channel Merchandising
    • Fortune 500 client projects ranging from strategic planning, merchandising, marketing, to technology development and messaging
    • Proprietary research studies on mystery shopping, mobile, merchandising and consumer behavior
    2
    #SocialFuture
  • Webinar Agenda
    The e-tailing group Trend Tracker
    5 Social Shopping Trends Shaping the Future of E-commerce
    • 2011 Social Shopping Study Results
    • Implications for E-commerce
    5 Trends Summary
    Q&A
    Follow along on #SocialFuture
    #SocialFuture
    3
  • The e-tailing group Trend Tracker
    Social Shopping From the Merchant Perspective
    4
  • Information Is Even More Essential to Decision-Making
    Consumers rely on the product page for comprehensive, compelling and consumer-focused content
    Customer Reviews
    Q&A
    Rich Media
    5
    #SocialFuture
  • Ten-year Product Page Tactical Penetration Indicates Important Evolution
    e-tailing group Mystery Shopping Studies, 2002-2010
    * Subset of 100 sites
    #SocialFuture
    6
  • Social Selling Strategies Make Headlines
    #SocialFuture
    7
  • Rich Media and Social Selling Strategies Continue to Rise in Importance for Delivering ROI
    Rich Media and Social Selling Strategies Continue to Rise in Importance for Delivering ROI
    Source: 2011 e-tailing group Annual Merchant Survey
    #SocialFuture
    8
  • Merchants Embrace Social Opportunities
    • More than 750 million active users
    • 50% of our active users log on to Facebook in any given day
    • Average user has 130 friends
    • People spend over 700 billion minutes per month on Facebook
    #SocialFuture
    9
  • Beyond Reviews The Social Media Tools That Most Merchants Employ/Plan To Employ Are Facebook-Related
    Q36
    Source: 2011 e-tailing group Annual Merchant Survey
    #SocialFuture
    10
  • Merchants have yet to realize significant ROI from social programs
    Q37
    #SocialFuture
    11
  • 5 Social Shopping Trendsshaping the future of e-commerce
    2011 Social Shopping Study Results
    12
  • Survey Methodology
    In March 2011 PowerReviews and the e-tailing group fielded an online questionnaire to over 1,000 consumers (51% male/49% female) who shop online four or more times annually, spending over $250 via that channel.
    Survey Objectives
    • Explore consumer utilization of social media across a range of merchants and channels to understand perception, interest and propensity to buy based on that engagement
    • Understand the consumer’s level of interest in community across the web and its implication on researching and shopping behavior
    • Trend customer reviews and social shopping to monitor changing and evolving consumer behavior
    #SocialFuture
    13
  • 5 Trends in Social Shopping
    Consumers are spending more time researching, across more sources, expecting certain social tools in the process
    Research starts with search, but SEO alone is no longer enough
    Consumers use Facebook for sharing and discovery, not for research
    On-site deployment of social tools has the greatest impact on e-commerce sales
    Facebook’s Open Graph is emerging as the social platform of choice for e-commerce
    1
    2
    3
    4
    5
    #SocialFuture
    14
  • 1
    Consumers are spending more time researching, across more sources, expecting certain social tools
    #SocialFuture
    15
  • Consumers are Researching Now, More Than Ever
    #SocialFuture
    16
  • Time Spent Researching Online Assumes AHeavy/Medium/Light Mentality
    Heavy
    Medium
    Light
    Q6
    #SocialFuture
    17
  • Customer Reviews and Q&A are the most important UGC when researching
    Q6
    #SocialFuture
    18
  • Reviewing Products is the Social Activity that Consumers Participate in Most Frequently
    Q6
    #SocialFuture
    19
  • Focus on the fundamentals, the social tools most important to consumers in the shopping process
    2. Make content easy to find and consume
    #1 Customer Reviews
    #2 Q&A
    20
    #SocialFuture
  • Enhance the fundamentals with new social technologies
    21
    #SocialFuture
  • Do you know?
    Your UGC quantity? The number of customer reviews you have on your product pages
    Your UGC generation effectiveness?Measured as the % of transactions that have UGC. Minimum performance is 2% of transactions. Best practice is 5%+ of transactions
    Your UGC SKU coverage? Minimum performance is 35%+ of your core catalog
    The rate at which that UGC quantity is shared on the social web? And, the referral traffic and resulting conversion? The value of a review shared to facebook is $15.72 with a $132 AOV
    22
    #SocialFuture
  • UGC Quantity and Coverage is the basis of the consumer research experience
    IR50 multichannel retailer
    IR50 multichannel retailer
    IR50 multichannel retailer
    $250m home category online retailer
    Ebay store home improvement online retailer
    -4X
    .72%
    -2X
    .38%
    +4X
    23
    #SocialFuture
  • UGC Quantity and Coverage is the basis of the consumer research experience
    Internet Retailer Top 100 Customer Reviews Coverage, % of total SKUs
    88%
    74%
    49%
    46%
    38%
    29%
    16%
    10%
    6%
    #SocialFuture
    24
  • Make your content available wherever your customers are researching
    The social web allows for open distribution of content
    • Google
    • Facebook
    • Twitter
    • LinkedIn
    • Retailers
    • Manufacturers
    • Mobile Devices
    • Review Sites
    25
    #SocialFuture
  • 2
    2
    Research starts with search, but SEO alone is no longer enough
    26
    #SocialFuture
  • Search engines are still the starting point for research
    27
    #SocialFuture
  • UGC is considered most credible on Amazon
    Followed by review sites and search engines.
    28
    #SocialFuture
  • 1/3 of consumers are now using Google Shopping
    29
    #SocialFuture
  • Make social content findable in search
    2. Make content easy to find and consume
    30
    #SocialFuture
  • 60% of the top retailers are missing the boat
    31
    #SocialFuture
  • Amazon and PowerReviews clients have indexable UGC directly on the product page
    #SocialFuture
    32
  • UGC is becoming increasingly prominent within the search experience
    Q2 2011
    Left Nav includes shopping
    Search Refinement links to Google shopping
    Shopping OneBox
    Links to Google Shopping
    33
    #SocialFuture
  • SEO is no longer enough, make your UGC present throughout the Google experience
    34
    #SocialFuture
  • 3
    3
    Consumers use Facebook for discovery and sharing, not for research
    #SocialFuture
    35
  • More then 40% of consumers check their Facebook newsfeed daily or several times a day
    Q26-27
    36
    #SocialFuture
  • Consumers participate in Fan Pages primarily to discover promotions
    Q29
    37
    #SocialFuture
  • When shopping online, social sites are used primarily to discover the pros and cons of a product
    Q6
    38
    #SocialFuture
  • But still nearly 3/4 of consumers don’t turn to social sites to research
    Q6
    39
    #SocialFuture
  • Focus Facebook efforts where your customers are participating most frequently, in the newsfeed
    40
    #SocialFuture
  • And ask consumers to like your brand at critical points within the on-site experience
    41
    #SocialFuture
  • And make it easy for them to share on-site content to the newsfeed
    42
    #SocialFuture
  • Consumers interacting with content in their newsfeeds can have a dramatic impact on sales
    The Results
    57%
    of all verified reviews are shared to Facebook
    of all reviews shared to spur further engagement through Likes/Comments
    more reviews are shared with Facebook OnSite vs. traditional methods
    The value of a review shared to Facebook with Facebook OnSite.
    70%
    5X
    $15.72
    43
    #SocialFuture
  • 4
    4
    On-site deployment of social tools has the greatest impact on e-commerce sales
    #SocialFuture
    44
  • Research is happening on the product page, which hosts the social features more important to e-commerce
    On-Site
    Off-Site
    Q6
    45
    #SocialFuture
  • Nearly half of consumers say that an on-site community experience is a factor in their shopping behavior
    Q23
    46
    #SocialFuture
  • With nearly 1 in 3 consumers actually participating in a brand or retailer community
    On-Site
    Off-Site
    Q18
    47
    #SocialFuture
  • Expertise is the most important characteristic of other contributors within a community
    Q20-21
    48
    #SocialFuture
  • On-Site Community is used primarily to get questions answered and to gain access to rewards/promotions
    Q22
    49
    #SocialFuture
  • On-site, focus on social tools that givecustomers all the information necessary to make a purchase
    Situation: BBY display is complex & does not contain the core conversion driving elements
    Rating histograms make it easy to see the rating breakdown across reviews.
    3 of 4 customers require pros & cons to make a purchase decision; make it easy for them to get what they want
    Content (vs. histogram) summaries are critical to consumer decision making, especially when viewing on a mobile
    Consumers’ #1 requested feature is the faceoff.
    1
    2
    3
    4
    50
    #SocialFuture
  • On-Site Community is driven by UGC
    51
    #SocialFuture
  • Integrated profile with the world’s largest community and your shoppers
    Improve credibility of on-site content
    with robust userprofiles
    52
    #SocialFuture
  • Situation: BBY display is complex & does not contain the core conversion driving elements
    Within a user profile, focus on profile elements that matter most to consumers
    1
    Profile Picture
    Location
    Expertise
    Past Contributions
    Verified Badges
    2
    3
    4
    5
    53
    #SocialFuture
  • 5
    5
    Facebook’s Open Graph is emerging as the the social platform of choice for e-commerce
    #SocialFuture
    54
  • More people are researching on social sites than last year
    Q6
    55
    #SocialFuture
  • 56
    More then 1/2 of consumers are actively using the Like button across the web
    Over the last 30 days, how many times have you “Liked” each of the following?
    #SocialFuture
  • Of the off-site social content, Facebook continues to show the most potential
    Off-Site
    Q6
    Q6
    57
    #SocialFuture
  • 1 In 3 shoppers think it’s important for ecommerce sites to personalize their experience based on Facebook data
    Q25
    #SocialFuture
    58
  • It’s early days for Facebook, but 1 in 2 consumers have or will connect from e-commerce sites
    Q24
    59
    #SocialFuture
  • 60
    Previously, sharing with Facebook was a one-way conversation
    #SocialFuture
  • 61
    Today retailers and brands are integrating Facebook into their on-site experience
    #SocialFuture
  • Start connecting with your customers via Facebook’s Open Graph today
    62
    #SocialFuture
  • Amazon paved the way with personalized recommendations based on Facebook data
    Situation: BBY display is complex & does not contain the core conversion driving elements
    1
    3
    2
    63
    #SocialFuture
  • Facebook’s Open Graph allows for extreme personalization and a better shopping experience
    64
    #SocialFuture
  • 5 Social Shopping Trends Recap
    Consumers are spending more time researching, across more sources, expecting certain social tools in the process
    Research starts with search, but SEO alone is no longer enough
    Consumers use Facebook for sharing and discovery, not for research
    On-site deployment of social tools has the greatest impact on e-commerce sales
    Facebook’s Open Graph is emerging as the social platform of choice for e-commerce
    1
    2
    3
    4
    5
    #SocialFuture
    65
  • Q&A – 10 minutes
    66
    Thank you.
    Thanks for attending. Please take a moment to complete our brief survey upon leaving the webinar.
    Today’s Speakers:
    Cathy Halligan
    SVP, Sales & Marketing
    @CathyHalligan
    Lauren Freedman
    President
    www.e-tailing.com
    #SocialFuture