Webinar based on research by Altimeter Group's Lora Cecere (Supply Chain Management, eCommerce, Social Commerce) and Jeremiah Owyang (Customer Strategy)
Webinar based on research by Altimeter Group's Lora Cecere (Supply Chain Management, eCommerce, Social Commerce) and Jeremiah Owyang (Customer Strategy)
Rise of Social Commerce (Webinar)Presentation Transcript
Rise of Social Commerce #rscwebinar February 3, 2010 1 Lora Cecere and Jeremiah Owyang Altimeter Group
Read the report 2 Rise of Social Commerce A Trail Guide for the Social Commerce Pioneer Published November 1, 1010 Download at: slideshare.net/loracecere
Qualitative: 54 interviews of social pioneers Quantitative: 123 respondents from retail and consumer products In vitro: 145 conference attendees Our methodology 3
“Social Commerce provides social context to the shopping experience. It is not B2C.” “Social commerce is in development. It is less about cool widgets and more about the power of the digital relationship.” “Engaging on topics that are important and earning the right to offer them the opportunity to buy. Earning attention and capturing intention to deliver a personalized response. “ “It is a new way to manage the long tail of the value chain. Product selection by the people for the people.” What is Social Commerce? 4
“The use of Social Technologies to anticipate, personalize and energize the shopping experience.” It is both a channel and a new way of doing business. Our belief 5
The Potential of the Open Graph Source: Gigya
For Hallmark…. 8
9 There were many trails west….
10 Dell Dell’s Key Social Media Milestones
The Rise of Social Commerce 11
The Rise of Social Commerce 12
13 Fans like You! Amazon partners with Facebook to show customers what their friends have bought
Brands post frequently, but few engage in two-way dialog Source: “The 8 Success Criteria of Facebook Page Marketing,” Altimeter Group, 2010 14 Altimeter Group rated 30 top brands on 8 success criteria for Facebook fan page marketing.
15 Strategists want to have dialog, but not support We asked 140 corporate Social Strategists what their top external (go-to-market) objectives are in 2011. Source: “How Corporations Should Spend on Social Business,” Altimeter Group, 2011
The Rise of Social Commerce 16
Organize for social business
CENTRALIZED
One department controls all efforts
Consistent
May not be as authentic
e.g. Ford
19
ORGANIC
Organic growth
Authentic
Experimental
Not coordinated
e.g. Sun
20
COORDINATED
One hub sets rules and procedures
Business units undertake own efforts
Spreads widely around the org
Takes time
e.g. Red Cross
21
MULTIPLE HUB AND SPOKE OR “DANEDELION”
Similar to Coordinated but across multiple brands and units
25 Levi’s auto-populates a shopping cart based on friends’ Likes
Review aggregation: Pros, cons and best uses
27 Listening and learning in new product launch: Produce Saver Response #Future15SB @bwdumars
28 Listening and learning in new product launch: Produce Saver Response #Future15SB @bwdumars
The Rise of Social Commerce 29
Diapers.com: Conversation precedes Commerce
Your baby becomes the social face ofDiapers.com
Questions, suggestions and humor around being a parent
Twitter parties
Mommy clubs
Diapers.com: Conversation precedes Commerce
75% orders from repeat customers
45-day return metric
50% of Facebook users are engaged for an hour/day
Dove: Launches Facebook Store in 2011 32
32 Brands
Engaged Consumers
Less Channel Tension with Retailers than eCommerce
33 Customers choose which designs get created in ModCloth’s Be The Buyer Program
Wet Seal: Social Strategy User Generated Content Social Network Engagement Cross Channel Mobile
Facebook Virtual Runway – Dec 2009 App Generates 3X Customer Fan News Feed Posts Than from Fan Page Interaction
Shop with Friends – Dec 2009
Wet Seal Social Network Game – August 2010
Cross Channel Mobile – Oct 2009 Outfit Views 500K+ per week
The Rise of Social Commerce 40
Delta
Other ideas: Groups International Facebook rewards Leverage partnerships Rethinking Travel
Universal ID Intersection of Interest and Social Graphs Like Button tied to Open Innovation Networks 2-D Barcodes Social Search Virtual Currency Trends we are following 44
We don’t know what “west” looks like Find a Scout: Customer advocate to help navigate the trail Lighten your load as you go…. Preparing for the journey 45
48 ABOUT US Altimeter Group is a research-based advisory firm that helps companies and industries leverage disruption to their advantage. We have four areas of focus: Leadership and Management, Customer Strategy, Enterprise Strategy, and Innovation and Design. Visit us at http://www.altimetergroup.com or contact info@altimetergroup.com.
Martin Kronborg
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