Rise of Social Commerce (Webinar)

Rise of Social Commerce
#rscwebinar
February 3, 2010
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Lora Cecere and Jeremiah Owyang
Altimeter Group

Read the report
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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
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“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?
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“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
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The Potential of the Open Graph
Source: Gigya

For Hallmark….
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There were many trails west….

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Dell
Dell’s Key Social Media Milestones

The Rise of Social Commerce
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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
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Altimeter Group rated 30 top brands on 8 success criteria for Facebook fan page marketing.

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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

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Organize for social business

CENTRALIZED
One department controls all efforts
Consistent
May not be as authentic
e.g. Ford
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ORGANIC
Organic growth
Authentic
Experimental
Not coordinated
e.g. Sun
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COORDINATED
One hub sets rules and procedures
Business units undertake own efforts
Spreads widely around the org
Takes time
e.g. Red Cross
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MULTIPLE HUB AND SPOKE
OR “DANEDELION”
Similar to Coordinated but across multiple brands and units
e.g. HP
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HOLISTIC OR “HONEYCOMB”
Each employee is empowered
Unlike Organic, employees are organized
e.g. Dell, Zappos ©
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Customers Like products on Levi’s pages

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Levi’s auto-populates a shopping cart based on friends’ Likes

Review aggregation: Pros, cons and best uses

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Listening and learning in new product launch: Produce Saver Response
#Future15SB @bwdumars

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Listening and learning in new product launch: Produce Saver Response
#Future15SB @bwdumars

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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
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32 Brands
Engaged Consumers
Less Channel Tension with Retailers than eCommerce

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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

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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
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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
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THANK YOU
Lora Cecere
lora@altimetergroup.com
supplychainshaman.com
Twitter: lcecere
Jeremiah Owyang
jeremiah@altimetergroup.com
web-strategist.com/blog
Twitter: jowyang

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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.

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Rise of Social Commerce (Webinar)

by Jeremiah Owyang on Feb 21, 2011

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