Social CommerceWhat is it, Why does it matter and How to Capitalize?                               Kristian Luoma, VP Prod...
What?
Mark Zuckerberg“If I had to guess, socialcommerce is the next area toreally blow up”
Imagine: You are planning to buy a car
Who do you trust?Advertisement     Experts       Friends
We trust... Friends!        Advertisement                                        Experts                                  ...
“82 % of consumers seek social input when planning to                   buy something.                                   ”...
“Commerce” lifecycle  Inspiration      Decision        Buying       Remorse  Product                                   Rat...
Productbookmarking
Wishlists + Sharing
Questionsand Answers
Co-shopping& Browsing
Ratings and Reviews              Shopping               history
Social Commerce .. is anything and everything in shopping lifecycle   that takes this trust and helps drive commerce.
Why?
facebook, why.  (for 3 reasons)
1: facebook blows up       verticals.
“Ravintola ei ole enää ainoa paikkakumppanin löytymiseen. Esimerkiksisosiaalinen media on tullut tähänkilpailuun mukaan. “...
2009, SOCIAL GAMES                                               > 600 Millions revenue 2009, known for “FarmVille”,      ...
.., 2: facebook provides      familiar faces.
Familiar face +content = brain-reactions.3 times thetrust.(Facebook provides veryreal, familiar faces.)
.. 3: facebook offers poor context for advertising.
N obody k on an ad                                               wa nts to clic                                           ...
Ad in wrong context is                          NoiseAvg. CTR            FB     Banners Google           0.05%   0.1-0.2% ...
Ad served as information context is ...                 Information!Avg. CTR            FB     Banners Google           0....
Who?
Inspiration         Decision         Buying      Remorse   Product                          38%           Ratings and     ...
Even the Elephants are       moving
30 $ Billion Market, .... by 2015. Impacting each step of the value chain!www.booz.com/media/uploads/BaC-Turning_Like_to_B...
“Eight SXSW start-ups that AdAge can love                                             ”“   Wantlet Helps Consumers get Rec...
Want, then get advice & deals1. Sign-up with       2. Write or Find   Facebook           what you want                    ...
Now on Mobile Web as well!
White-label solution for retailers and brands                          Product Sharing toCustomizable Social       Faceboo...
Summary
What?                   Why?                      Who?                   Wantlet?                             facebook    ...
Social Commerce - What, Why and How?
Social Commerce - What, Why and How?
Social Commerce - What, Why and How?
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Social Commerce - What, Why and How?

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My presentation at TNS forum Helsinki, Finland on 12th of May 2011.

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Social Commerce - What, Why and How?

  1. 1. Social CommerceWhat is it, Why does it matter and How to Capitalize? Kristian Luoma, VP Product - Wantlet, @kluoma 13th May, 2011 - Helsinki,TNS Gallup
  2. 2. What?
  3. 3. Mark Zuckerberg“If I had to guess, socialcommerce is the next area toreally blow up”
  4. 4. Imagine: You are planning to buy a car
  5. 5. Who do you trust?Advertisement Experts Friends
  6. 6. We trust... Friends! Advertisement Experts Friends 33% 90% 59% http://blog.nielsen.com/nielsenwire/consumer/global-advertising-consumers-trust-real-friends-and-virtual-strangers-the-most/
  7. 7. “82 % of consumers seek social input when planning to buy something. ” Wantlet research, 2011 Ask for the study from hello@wantlet.com !
  8. 8. “Commerce” lifecycle Inspiration Decision Buying Remorse Product Ratings and Questionsbookmarking Reviews and Answers Co-shopping Shopping Wishlists & Browsing history
  9. 9. Productbookmarking
  10. 10. Wishlists + Sharing
  11. 11. Questionsand Answers
  12. 12. Co-shopping& Browsing
  13. 13. Ratings and Reviews Shopping history
  14. 14. Social Commerce .. is anything and everything in shopping lifecycle that takes this trust and helps drive commerce.
  15. 15. Why?
  16. 16. facebook, why. (for 3 reasons)
  17. 17. 1: facebook blows up verticals.
  18. 18. “Ravintola ei ole enää ainoa paikkakumppanin löytymiseen. Esimerkiksisosiaalinen media on tullut tähänkilpailuun mukaan. “ http://www.hs.fi/kotimaa/artikkeli/Helsingin+y%C3%B6kerhot+vaikeuksissa+kolmesta+syyst%C3%A4/1135265980739
  19. 19. 2009, SOCIAL GAMES > 600 Millions revenue 2009, known for “FarmVille”, “CityVille” (22 million users in 2 weeks) zynga foursquare2010, SOCIAL ? 2011, SOCIALLOCATIONWon SCVNGR and Gowalla in 2010 facebook SHOPPINGLocation Check-in Race Who will win it?
  20. 20. .., 2: facebook provides familiar faces.
  21. 21. Familiar face +content = brain-reactions.3 times thetrust.(Facebook provides veryreal, familiar faces.)
  22. 22. .. 3: facebook offers poor context for advertising.
  23. 23. N obody k on an ad wa nts to clic in Face book 0.051% s! L ike u Unless you give away stuff Sweepstak es! Win an iPad!!!Demog raphics Behavioural targeting
  24. 24. Ad in wrong context is NoiseAvg. CTR FB Banners Google 0.05% 0.1-0.2% 0.5-1%
  25. 25. Ad served as information context is ... Information!Avg. CTR FB Banners Google 0.05% 0.1-0.2% 0.5-1% 8%
  26. 26. Who?
  27. 27. Inspiration Decision Buying Remorse Product 38% Ratings and Questions bookmarking Reviews and Answers 20% > Co-shopping 30% Wishlists and Shopping & Browsing history Sharing 37%Retailers considering to use in 2010.Mainstream by 2013.
  28. 28. Even the Elephants are moving
  29. 29. 30 $ Billion Market, .... by 2015. Impacting each step of the value chain!www.booz.com/media/uploads/BaC-Turning_Like_to_Buy.pdf
  30. 30. “Eight SXSW start-ups that AdAge can love ”“ Wantlet Helps Consumers get Recos and Second Opinions on What They Want ”
  31. 31. Want, then get advice & deals1. Sign-up with 2. Write or Find Facebook what you want 3. Share to Facebook/Twitter, get answers and recommendations from friends, experts + great deals 4. Wants saved in your shopping lists
  32. 32. Now on Mobile Web as well!
  33. 33. White-label solution for retailers and brands Product Sharing toCustomizable Social Facebook, Twitter Wish List solution Re-targeting tools
  34. 34. Summary
  35. 35. What? Why? Who? Wantlet? facebook 1: blowing verticals 1. Connect through Wants 2: familiar faces for advice and deals90% 3: sucky context for ads 2. Tools for Retailers and Brands Sears, Wal-Mart, ..82 % already does it!

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