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

  • 1. June 1, 2011 Contact: Michael Fasciano, @Fasciano Social Commerce for Marketers Overview and POV
  • 2. Agenda
    • What is Social Commerce?
    • The Opportunity, Trends & Examples
  • 3. 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.
  • 4. 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
  • 5. 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
  • 6. 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
  • 7. SOCIAL COMMERCE TRENDS
  • 8. 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
  • 9. 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
  • 10. 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
  • 11. 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
  • 12. 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
  • 13. LONGER TERM GROWTH OPPORTUNITIES
  • 14. Giving gifts to friends can go viral
  • 15. The new behavioral targeting: Amex offers deals based on your Facebook Likes
  • 16. 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
  • 17. 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
  • 18. Hybrid commerce hosts product browsing on Facebook, but drives traffic to established e-commerce channels Review / Discuss Products Make the Purchase On-Site
  • 19. 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
  • 20. APPENDIX
  • 21. 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