2009 Social Ecommerce Planning Guide by Optaros

Social Ecommerce 2009 Planning Guide

Social Ecommerce 2009 Planning Guide | Overview Nearly all of our retail clients are asking us the following question: “We’ve done product ratings and reviews, what social shopping features should we implement in 2009?” Step 1: Determine which key metric you want to improve Step 2: Review the options against adoption Step 3: Rank order the options that impact your metric 8/5/2008 Optaros confidential. All rights reserved. 2

Social Ecommerce Step 1 | Determine Key Metric to Improve Measure the key ROI metrics, which are often: • Traffic • Conversion • Average order size • Shopping cart Abandonment … and additional metrics may include: • Loyalty (return visitors) • Brand awareness • Reduce customer service calls & product returns Establish a formal ROI model based on actual site analytics and performance Establish a multivariate (A/B testing) strategy to measure new features 8/5/2008 Optaros confidential. All rights reserved. 3

Social Ecommerce Step 2 | Review Options Against Adoption The next 4 pages show specific features for each of the 3 phases of High adoption Visionary Concepts to be Each feature lists the aware of or key metric it impacts Differentiation experiment with and links to real Strategic Features that will world examples be commonplace over the next Go through the 12 months gallery and select Baseline Features most candidates that Low have already impact the metric(s) implemented you have chosen. High Low Industry Adoption 8/5/2008 Optaros confidential. All rights reserved. 4

Social Ecommerce Step 2 | Baseline Options Drop-down cart Single page checkout Quick-pick modals Navigate by persona Order size Abandonment Conversion, order size Conversion Rue La La Rue La La Rue La La, Endless.com Target Gift Finder Guided search Ratings and reviews Real-time inventory Recommendations Conversion Conversion, returns Abandonment Conversion Swimsuits at Lands' End Many sites Rue La La Many sites 8/5/2008 Optaros confidential. All rights reserved. 5

Social Ecommerce Step 2 | Strategic Options Merchant blogs On-line print catalog Multimedia Micro-sites Traffic Conversion Conversion, order size Traffic mydeco Bloomingdales Catalog IKEA Bedroom, Madewell, Gap, Netshops.com, azjeans.com ASOS, Martin+Osa Visualized search Alternative reviews Product configuration Abandoned cart email Conversion Conversion, returns Conversion Abandonment BEDAT & Co Shoeline.com Oneida, Reebok, Blue Nile, Martin+Osa, Timberland 8/5/2008 Optaros confidential. All rights reserved. 6

Social Ecommerce Step 2 | Visionary Options Deal-of-the-day Private event retail Shop by preference Pop culture Traffic Traffic Conversion Conversion Steep and Cheap, Woot Rue La La StyleFeeder.com, mydeco Celeb Style, Alternative Celebrity Visualization Virtual shopping Social configuration Mobile shopping Conversion Conversion Conversion Traffic Zoomii.com, PicLens, Lowes gardening shop, Kinset Threadless T-Shirts Amazon’s iPhone Website Borders magic shelf, RIMOWA DK Travel, mydeco eBay’s iPhone application 8/5/2008 Optaros confidential. All rights reserved. 7

Social Ecommerce Step 2 | Visionary Social Shopping Retailer community Focused communities General communities Pull in social graph Traffic Traffic Traffic Conversion TJ Maxx Community Stylehive Kaboodle, ThisNext Fans Virtual social shopping Social widgets Shop together Traffic Traffic Conversion Sears Lemonade, Cartfly NetShops 8/5/2008 Optaros confidential. All rights reserved. 8

Social Ecommerce Step 3 | Rank Order Options For example, if you chose Conversion as your key metric, your options are the following: • Baseline: Ratings & reviews, Quick-pick modals, Guided search, Recommendations, Persona navigation • Strategic: Online print catalog, Visualized search, Multimedia, Alternative reviews, Product configuration • Visionary: Shop by preference, Pop culture, Visualization, Virtual shopping, Social configuration Select the ones appropriate for your business, rank order from Baseline to Visionary, and estimate the impact on conversion rate of each one. Your top 3 should be the ones most adopted that show the greatest potential benefit to your business 8/5/2008 Optaros confidential. All rights reserved. 9

Social Ecommerce 2009 Planning | How to Learn More Read a blog • Product Configuration • New Retail Concept • Ecommerce Strategy – 4 Myths • Ecommerce Blogs Contact our Ecommerce Director with questions 8/5/2008 Optaros confidential. All rights reserved. 10

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2009 Social Ecommerce Planning Guide by Optaros

by Michael S. Levy on Oct 06, 2009

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