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The Psychology of Social Commerce
 

The Psychology of Social Commerce

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It's time to rethink e-commerce! Why has ecommerce not evolved much since the late 90s? Can adding a social layer to it make it more fun, more compelling? How can marketers and retailers take ...

It's time to rethink e-commerce! Why has ecommerce not evolved much since the late 90s? Can adding a social layer to it make it more fun, more compelling? How can marketers and retailers take advantage of the new innovations in social shopping? Panel session given at Search Engine Strategies NYC 2012.

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    The Psychology of Social Commerce The Psychology of Social Commerce Presentation Transcript

    • The Psychology of sCommerce Do Not Be Afraid!Dana ToddSVP Marketing & New BusinessDana.Todd@performics.com | www.performics.com blog.performics.com | @DanaTodd New York | March 19–23
    • New York | March 19–23, 2012 | #sesny Who’s the Chick with the Purple Hair? @DanaTodd • SVP Marketing at Performics • 16 years in Internet industry • Co-founder and former Chair of SEMPO. Founder of Newsforce and SiteLab • Expert witness, advisor to industry and analysts Performics is the original Performance Marketing firm, part of the Publicis Groupe worldwide. Performics inspires participation through performance marketing channels, integrating highly efficient media with relevant brand experiences.© All rights reserved. Performics.
    • New York | March 19–23, 2012 | #sesny A Few of Our Global Brands© All rights reserved. Performics.
    • It’s time to rethink the shopping experience: Regardless of the medium, people crave participation with your brand – and each other. New York | March 19–23© All rights reserved. Performics.
    • @DanaTodd New York | March 19–23, 2012 | #sesnyIf People Like to Interact with Fashion Like This…© All rights reserved. Performics.
    • @DanaTodd New York | March 19–23, 2012 | #sesny And Shop with Friends Like This…© All rights reserved. Performics.
    • @DanaTodd New York | March 19–23, 2012 | #sesnyThen Why Does the Shopping Experience Feel Like This?© All rights reserved. Performics.
    • What do people really want todo socially while shopping? New York | March 19–23
    • @DanaTodd New York | March 19–23, 2012 | #sesny Participation Shapes the Shopping Experience Apple Hauls JCP find more Fashism Best Buy OpenSky UK - StylistPick Where To Get It Motillo© All rights reserved. Performics.
    • @DanaTodd New York | March 19–23, 2012 | #sesny Participants Expect Interactive Relationships© All rights reserved. Performics.
    • @DanaTodd New York | March 19–23, 2012 | #sesny They Conduct In-Store Social Activities (Summary – Occasionally/Frequently) Source: Performics & ROI Research 2011 Social Shopping Study: Participant Behaviors & Preferences on Social, Shopping and Deal Sites© All rights reserved. Performics.
    • @DanaTodd New York | March 19–23, 2012 | #sesny They Conduct In-Store Search Activities Source: Performics & ROI Research 2011 Social Shopping Study: Participant Behaviors & Preferences on Social, Shopping and Deal Sites© All rights reserved. Performics.
    • @DanaTodd New York | March 19–23, 2012 | #sesny Social Shopping Influences Participation and Purchasing Behaviors How much do you agree or disagree with the following statements? (Summary – Somewhat/strongly agree) 72% [Shopping, Deal, Social] sites are an important part of 58% the purchase process for me 41% 57% I trust user reviews/recommendations on 53% [shopping, deal, social] sites more than others 58% 46% Positive reviews/recommendations regarding 49% products/services cause me to buy things 50% Negative reviews/recommendations on 46% [shopping, deal, social] sites eliminates possibility of 46% purchase 44% Shopping Sites (N=889) Deal Sites (N=575) Social Networks (N=1,000) Source: Performics & ROI Research 2011 Social Shopping Study: Participant Behaviors & Preferences on Social, Shopping and Deal Sites @Performics© All rights reserved. Performics.
    • @DanaTodd New York | March 19–23, 2012 | #sesny 60% of Social Shoppers Wait up to 10 Minutes for Advice Before Proceeding While at a physical location, have you ever When seeking advice on social networks prior to paused prior to finalizing a purchase in order finalizing a purchase, how long do/would you to seek advice on a social network? wait for feedback before proceeding with purchase? Less than 19% No 75% 5 minutes 5 - 10 41% minutes Yes 25% 10 - 20 22% minutes More than 20 18% minutes Source: Performics & ROI Research 2011 Social Shopping Study: Participant Behaviors & Preferences on Social, Shopping and Deal Sites© All rights reserved. Performics.
    • @DanaTodd New York | March 19–23, 2012 | #sesny Shopping Sites while Searching & Before Committing; Social Networks After Purchase to Share Experience How often do you use [social networks, shopping sites, deal sites] at each of the following times? (Summary – Occasionally/Frequently) 87% In the beginning when searching for a product 70% 66% 83% Right before I commit to purchasing 68% 64% 57% After I make the purchase to share my 51% experience Shopping Sites 59% Deal Sites 55% While Im in the store or on the website 48% Social Networks 46% Source: Performics & ROI Research 2011 Social Shopping Study: Participant Behaviors & Preferences on Social, Shopping and Deal Sites© All rights reserved. Performics.
    • @DanaTodd New York | March 19–23, 2012 | #sesny Best Practices • Don’t block mobile signals – and ensure mobile search visibility for your site and products • Reviews and comments are critical • Implement interactive elements (comments, sharing, reviews) on product pages • Make them index-able • Leverage online reviews in-store • Verify what happens when people try to Share, Pin, Like, etc. • Encourage check-ins in your store • Facilitate in-store bar-code scanning (2D and 3D) • Participate on social networks, search and shopping engines to foster positive chatter and quickly respond to negative chatter© All rights reserved. Performics.
    • @DanaTodd New York | March 19–23, 2012 | #sesny Best Practices: Emerging Opportunities • Implement a “Pin It” button to brand product pages (all or prioritized selection) and create brand-owned style boards • Turn product feeds into Polyvore-like pinboards that you customize and own on your site. Measures shopping journeys for merchandising intelligence. • Loyalty shopping programs, rewards shoppers by pre- determined levels of engagement and encouraging cross- device activities • Encourage user creation & sharing of style collages for promotional or campaign specific initiatives @Performics© All rights reserved. Performics.
    • THANK YOU!! Do Not Be Afraid!Dana ToddSVP Marketing & New BusinessDana.Todd@performics.com | www.performics.com blog.performics.com | @DanaTodd New York | March 19–23