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Rise of Social Commerce (Webinar)

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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)

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  • http://www.modcloth.com/storefront/products/be_the_buyer
  • Transcript

    • 1. Rise of Social Commerce
      #rscwebinar
      February 3, 2010
      1
      Lora Cecere and Jeremiah Owyang
      Altimeter Group
    • 2. 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
    • 3. Qualitative: 54 interviews of social pioneers
      Quantitative: 123 respondents from retail and consumer products
      In vitro: 145 conference attendees
      Our methodology
      3
    • 4. “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
    • 5. “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
    • 6.
    • 7. The Potential of the Open Graph
      Source: Gigya
    • 8. For Hallmark….
      8
    • 9. 9
      There were many trails west….
    • 10. 10
      Dell
      Dell’s Key Social Media Milestones
    • 11. The Rise of Social Commerce
      11
    • 12. The Rise of Social Commerce
      12
    • 13. 13
      Fans like You! Amazon partners with Facebook to show customers what their friends have bought
    • 14. 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. 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
    • 16. The Rise of Social Commerce
      16
    • 17.
    • 18. Organize for social business
    • 19. CENTRALIZED
      • One department controls all efforts
      • 20. Consistent
      • 21. May not be as authentic
      • 22. e.g. Ford
      19
    • 23. ORGANIC
      20
    • 28. COORDINATED
      • One hub sets rules and procedures
      • 29. Business units undertake own efforts
      • 30. Spreads widely around the org
      • 31. Takes time
      • 32. e.g. Red Cross
      21
    • 33. MULTIPLE HUB AND SPOKE
      OR “DANEDELION”
      • Similar to Coordinated but across multiple brands and units
      • 34. e.g. HP
      22
    • 35. HOLISTIC OR “HONEYCOMB”
      • Each employee is empowered
      • 36. Unlike Organic, employees are organized
      • 37. e.g. Dell, Zappos ©
      23
    • 38. Customers Like products on Levi’s pages
    • 39. 25
      Levi’s auto-populates a shopping cart based on friends’ Likes
    • 40. Review aggregation: Pros, cons and best uses
    • 41. 27
      Listening and learning in new product launch: Produce Saver Response
      #Future15SB @bwdumars
    • 42. 28
      Listening and learning in new product launch: Produce Saver Response
      #Future15SB @bwdumars
    • 43. The Rise of Social Commerce
      29
    • 44. Diapers.com: Conversation precedes Commerce
      • Your baby becomes the social face ofDiapers.com
      • 45. Questions, suggestions and humor around being a parent
      • 46. Twitter parties
      • 47. Mommy clubs
    • Diapers.com: Conversation precedes Commerce
      • 75% orders from repeat customers
      • 48. 45-day return metric
      • 49. 50% of Facebook users are engaged for an hour/day
    • Dove: Launches Facebook Store in 2011
      32
      • 32 Brands
      • 50. Engaged Consumers
      • 51. Less Channel Tension with Retailers than eCommerce
    • 33
      Customers choose which designs get created in ModCloth’s Be The Buyer Program
    • 52. Wet Seal: Social Strategy
      User Generated Content
      Social Network Engagement
      Cross Channel Mobile
    • 53. Facebook Virtual Runway – Dec 2009
      App Generates
      3X Customer
      Fan News Feed Posts
      Than from Fan Page
      Interaction
    • 54. Shop with Friends – Dec 2009
    • 55. Wet Seal Social Network Game – August 2010
    • 56. Cross Channel Mobile – Oct 2009
      Outfit Views
      500K+ per week
    • 57.
    • 58. The Rise of Social Commerce
      40
    • 59.
    • 60. Delta
    • 61. Other ideas:
      Groups
      International
      Facebook rewards
      Leverage partnerships
      Rethinking Travel
    • 62. 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
    • 63. 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
    • 64.
    • 65. 47
      THANK YOU
      Lora Cecere
      lora@altimetergroup.com
      supplychainshaman.com
      Twitter: lcecere
      Jeremiah Owyang
      jeremiah@altimetergroup.com
      web-strategist.com/blog
      Twitter: jowyang
    • 66. 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.