Introduction• What is Social Commerce?• Social Commerce is a subset of e-commerce that involves using social media and supports social interactions and user contributions to facilitate in the buying and selling of products.
Historical Overview• The foundation of social media lies within the relationship between people and how we interact with each other.• buyer is 71% more likely to purchase a product if it is recommended to them by a friend Something is missing!!!
2 Types of Social Commerce• Integrate E-commerce Integrate Social media into social media into e-commerce platforms websites
F-commerce• Companies are looking to enter this world where their customers are socializing and bring their products directly into the site.
Impact of Social Commerce• Malaysia Airlines allows people to choose their seat, post their itinerary on their wall and check in directly on Facebook.• Facebook app called MHBuddy, which embraces the concept of social seating and allows people to interact before they actually sit together on their flight.
Customer Forums and Review Boards• Companies interact directly with the customers.• Customers with like interests also interact and share their thoughts on products, etc.• 59% of consumers research a product before making a purchase.
Is Social Commerce Business Worthy?• YES!!!...here’s why…• Currently, 14% of all transactions occur online• It’s not just about increased sales, but rather increased awareness and brand loyalty.• As consumers become more comfortable, increased sales will follow.• http://www.youtube.com/watch?v=ibJFk3x4Si E