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Social Commerce for Marketers -
 

Social Commerce for Marketers -

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    Social Commerce for Marketers - Social Commerce for Marketers - Presentation Transcript

    • June 1, 2011 Contact: Michael Fasciano, @Fasciano Social Commerce for Marketers Overview and POV
    • Agenda
      • What is Social Commerce?
      • The Opportunity, Trends & Examples
    • What is social commerce?
      • A subset of e-commerce that involves using social media contributions and interactions to assist in the online promotion, buying and selling of product in and beyond social platforms.
      • With HomeGoods making great strides in social media, the time may be right for HomeGoods leverage social investments and grab a greater piece of the digital commerce pie.
    • Social commerce is a significant driver behind online retail growth
      • Social commerce is currently estimated at $5 billion annually
      • Expected to increase 600% by 2015
    • Why pair commerce with social media?
      • All generations exhibit social behaviors as they shop (right)
      • Social network users actively discuss promotions, ratings, and the final purchase:
        • 56% discuss product sales and promotions
        • 50% give advice on what to purchase
        • 49% talk about where to purchase products
    • Facebook commerce is gaining momentum
      • 8% of brand Facebook pages are commerce enabled
      • 50,000 retailers have opened an F-commerce store
      • F-Commerce can be executed as a
        • full-service commerce experience
        • browser-driven experience that drives to alternate commerce enabled destinations
      • Key benefits:
        • Convenient experience
        • Instant sharing and discussion
        • Turn-key channel for engagement and promotional opportunities
      AdAge, “ Facebook Commerce: A Brief History, ” http://bit.ly/pdXgDv
    • SOCIAL COMMERCE TRENDS
    • Conversation among friends impacts purchase decisions
      • 69% of online buyers find ratings and reviews helpful for making purchase decisions
      • 67% of shoppers spend more online after receiving recommendations from their online friends
      eMarketer, “ US Retail Ecommerce Forecast, ” April 2011 Implication : Integrate commerce into conversation with friends of the brand
    • Transactions are moving closer to the conversation for convenience and engagement (i.e. up-funnel)
      • Gillette ’ s extensive shop tab selection allows fans to purchase their favorite Gillette products without ever having to leave Facebook.
      Implication : Bring transactions closer to the conversation by initiating on social channels
    • Gift giving is a strong fit for engagement among community and friends 771,383 Likes Implication : Consider ways in which to make gifts a unique part of the community relationship
    • Commerce-primed social channels can deploy turn-key promotions that support revenue generation
      • 56% of online shoppers enter a retail-sponsored contest
      • Gap has given away 10,000 pairs of jeans through Facebook Places ’ check-in deals
      AdAge, “ Facebook Commerce: A Brief History, ” http://bit.ly/pdXgDv eMarketer, “ US Retai l eCommerce Forecast, ” April 2011 Implication : Use social promotions to increase consideration for featured social commerce
    • Sharing drives more traffic to point-of-purchase
      • Levi ’s saw 40x increase in FB referral traffic after implementing the ‘Like’ button
      • Coca-Cola is getting 11% of unique site views from Facebook pages
      eMarketer, “ US Retail Ecommerce Forecast, ” April 2011 eMarketer, “ Social Commerce, ” January 2011 Mashable, “ Beginner ’ s Guide to F-Commerce, ” July 30: http://on.mash.to/oba3tb Implication : Make all transaction opportunities shareable with friends
    • LONGER TERM GROWTH OPPORTUNITIES
    • Giving gifts to friends can go viral
    • The new behavioral targeting: Amex offers deals based on your Facebook Likes
    • An up-tick in collaborative shopping is already happening
      • Wet Seal ’s ‘Shop with Friends’ tab increased sales by 20% due to shop tab referrals
      Mashable, “ The Beginner ’ s Guide to Facebook Commerce, ” http://on.mash.to/oba3tb
    • Social profiles can inform personalized shopping experiences
      • 36% of US online retailers are implementing social sign-on
      • 41% of web users prefer social sign-in to traditional account logins
      eMarketer, “ Social Commerce, ” January 2011
    • Hybrid commerce hosts product browsing on Facebook, but drives traffic to established e-commerce channels Review / Discuss Products Make the Purchase On-Site
    • Models of F-Commerce to Consider
      • Facebook initiated selling
        • Set up a storefront on Facebook for browsing deals, giftcards, product, etc.
        • The vast majority of brand stores start the shopping process at FB but then jump over to an independent commerce page
      • Complete selling via Facebook
        • A transaction process that never takes users away from FB
      • iFrames vs. Facebook Apps
        • iFrames allow content hosting in the 520-pixel middle column. Advantage is simplicity
        • Apps require more development and the primary advantage is more real-estate
    • APPENDIX
    • Retail e-commerce sales continue to expand rapidly in the US
      • Online purchasing has become mainstream
      • In 2011, 179 million consumers 14+ will research products online
      • 83% of them will make an online purchase
      • eCommerce will continue to grow significantly through 2015 and beyond