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Presentation given at Luxury Interactive 2011 on the subject of Social Retailing in the Luxury sector.

Presentation given at Luxury Interactive 2011 on the subject of Social Retailing in the Luxury sector.

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  • 1. Monetising Social Media “S-Retailing” Luxury Interactive London, May 2011www.ianjindal.com | www.internetretailing.net
  • 2. 1.  Exploding Channels2.  PR3.  Character
  • 3. Ian Jindal @ianjindal @etail @etailexpo
  • 4. Ian Jindalwww.ianjindal.comhttp://twitter.com/ianjindal
  • 5. Social Commerce – already here
  • 6. What’s on your mind?Summary
  • 7. Key trends for industry professionals - Survey
  • 8. What’s on your mind?25% - Social Media-- “ROI” – we’re doing it, but don’t know how we’ll measure it…-- “Brand Integration”-- making sense of the customer relationship and experienceSummary-- developing the ‘online shopkeeper mentality’
  • 9. The Social Customer
  • 10. Social traffic to retailers exceeds email
  • 11. Trend continued in 2010 http://weblogs.hitwise.com/heather-dougherty/2011/01/ holiday_retail_gets_more_socia.html
  • 12. Television and Mobile
  • 13. Television and Mobile
  • 14. Reviews
  • 15. Reviews• 215 billion user-generated impressions• 3500+ review impressions per second• 1,000+ retailers
  • 16. Reviews ! Sephora products with 2 or more questions have a 22% higher conversion rate ! Customers’ own words ! 20x update frequency ! Without Q&A, this top ranked page would not exist ! 
  • 17. Guerilla Commerce http://twitter.com/etail/tweetailers
  • 18. Whither the ‘purchasing funnel’? http://www.kaushik.net/avinash/wp-content/uploads/2007/11/coradiant_reports.png
  • 19. Social is not just online – let’s look at the store…
  • 20. Social Graph and Location meet promotionFacebook Deals – adding promotions to “place”and “social” http://www.internetretailing.net/2011/02/facebook-deals-adding-the-what-to-the-where-and-who/
  • 21. Social Graph and Location meet promotionFacebook Deals – adding promotions to “place”and “social” http://www.internetretailing.net/2011/02/facebook-deals-adding-the-what-to-the-where-and-who/
  • 22. Social Graph and Location meet promotionFacebook Deals – adding promotions to “place”and “social”
  • 23. Social Graph and Location meet promotionFacebook Deals – adding promotions to “place”and “social” http://www.fraunhofer.de/en/press/research-news/2010-2011/13/interactive-window-shopping.jsp
  • 24. Social Graph and Location meet promotion 900,000 views a month 45% on the dealer forecourt!!Facebook Deals – adding promotions to “place”and “social”
  • 25. Narrative – in the customers’ hands
  • 26. Narative is not owned by the brand
  • 27. When customers market the brand
  • 28. Supporting narrative – “tool watch”, bling and post-purchase dissonance
  • 29. Measure and assess
  • 30. Measure and assess •  Social Retailing touches reviews, mobile, guerilla, cross- channel and sustains brand narratives in between purchases •  Social Retailing develops and amplifies appreciative, discerning ‘audiences’ for our customers •  Measure in the moment (for sales/reviews), in a consideration cycle and over a lifetime (like PR) – no single measure
  • 31. Social Commerce – Roundtable videos… http://www.internetretailing.net/events/bazaarvoice-social-commerce-insight-roundtable
  • 32. Modes of engagement 1.  Customers talking to each other about us [monitor, act] 2.  Customers talking to each other via us [service, host, act] 3.  Us talking to (rather than at) customers [resource, connect, act] 4.  Increasing interaction with space, place, time and sentiment [data, integration, consistency, service, act] 5.  Amplification of any of the above [do more, better]
  • 33. Social Retailing
  • 34. Thank youwww.ianjindal.comwww.internetretailing.netwww.m-retailing.netwww.europeanecommerceforum.orghttp://twitter.com/ianjindal