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Social Shopping - Converting Conversations to Commerce

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Presentation given at Internet Marketing Summit, 22nd November 2010

Presentation given at Internet Marketing Summit, 22nd November 2010

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    Social Shopping - Converting Conversations to Commerce Social Shopping - Converting Conversations to Commerce Presentation Transcript

    • Social Shopping Converting Conversations to Commerce Andrew Gerrard 22nd November 2010 @andrewgerrard andrew@d-marketing.co.uk
    • I’m sure we’ll be able to successfully market your product, Mr. Ferguson. I’ve got one of my best liars working on it right now.” Charlos Gary, 2005
    • What is Social Commerce? “...social context to the shopping experience.” (Food and drink manufacturer) “...earning the right to offer them the opportunity to buy something.” (Mass merchant retailer) “...drive true relationship-based sales.” (Pharmaceutical manufacturer) “It is a new way to manage the long tail of the value chain. Product selection by the people for the people.” (Clothing retailer)
    • Social Commerce is… a transformation “Just as e-commerce transformed retail, social media transforms e-commerce by changing people’s expectations.” Mitch Joel - April 21, 2010 - Social Commerce Summit
    • Social commerce is about customers having the means to interact with one another in order to make better buying decisions. Social “Social” UGC “Commerce” ROI Marketing
    • “Technology can only ever serve as a bridge, never as a destination.” Lord Puttnam, IAB Engage, 2005
    • Old rules?
    • New Model
    • Mass Audiences
    • Market Fragmentation Customer Segmentation
    • Commercial realities still apply
    • 1. Product 2. Price 3. Promotion 4. Placement 5. People
    • “My network”
    • But - only 6% trust customer reviews. Source: the e-tailing group, May 2010
    • “On a brighter note, sir, 3 percent of our customers said they like our products.” Charlos Gary, 2008
    • People powered R&D
    • Price driving engagement
    • Group power
    • Multi- channel Social connection & conversion
    • Using Geo-location to drive footfall & in-store sales
    • “Does my bum look big in this?” Instant Social Interaction
    • How much is a “Like” worth?
    • The social shopping experience
    • Social Commerce Framework • Goals • Community • Content – Create and deliver quality, timely, relevant content • Engage them – Give your community things to do on your behalf • Empower them to take ownership • Be prepared to “let go” (...just a little) • Share success
    • “I’m not going to kid you, it’s a volatile market.”
    • Thank you http://www.slideshare.net/agerrard Andrew Gerrard 22nd November 2010 @andrewgerrard andrew@d-marketing.co.uk