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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

Published in: Business

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  • 1. Social Shopping Converting Conversations to Commerce Andrew Gerrard 22nd November 2010 @andrewgerrard andrew@d-marketing.co.uk
  • 2. 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
  • 3. “...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) What is Social Commerce?
  • 4. 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
  • 5. “Social” UGC Social Marketing “Commerce” ROI Social commerce is about customers having the means to interact with one another in order to make better buying decisions.
  • 6. “Technology can only ever serve as a bridge, never as a destination.” Lord Puttnam, IAB Engage, 2005
  • 7. Old rules?
  • 8. New Model
  • 9. Mass Audiences
  • 10. Customer Segmentation Market Fragmentation
  • 11. Commercial realities still apply
  • 12. 1. Product 2. Price 3. Promotion 4. Placement 5. People
  • 13. “My network”
  • 14. But - only 6% trust customer reviews. Source: the e-tailing group, May 2010
  • 15. “On a brighter note, sir, 3 percent of our customers said they like our products.” Charlos Gary, 2008
  • 16. People powered R&D
  • 17. Price driving engagement
  • 18. Group power
  • 19. Multi- channel Social connection & conversion
  • 20. Using Geo-location to drive footfall & in-store sales
  • 21. “Does my bum look big in this?” Instant Social Interaction
  • 22. How much is a “Like” worth?
  • 23. The social shopping experience
  • 24. 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
  • 25. “I’m not going to kid you, it’s a volatile market.”
  • 26. Thank you http://www.slideshare.net/agerrard Andrew Gerrard 22nd November 2010 @andrewgerrard andrew@d-marketing.co.uk