Shopping Goes Social
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Shopping Goes Social

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Shopping Goes Social Shopping Goes Social Presentation Transcript

  • SHOPPING GOES SOCIAL Why consumers are turning to social media before they hit the stores1
  • Online shopping has dramatically changed in the past 5 years. With the rise of online product reviews, consumers now turn to social media for advice on what to buy.2
  • To give you an idea of the impact of social media...3
  • No.1online activity is social networking.
  • 1/3 of all time spent online is on5
  • A quarter of U.S. adults have increased the amount of time they spend... 24% 25% online shopping reading reviews6
  • Because of this, social spending is on the rise...7
  • In 2010, advertisers spent almost $1700 000 000 , , , on social media marketing in the U.S. ...and it’s expected to grow 30.2% annually8
  • 75% However, of women say ads on social networks don’t encourage them to purchase.9
  • So what does influence them? Friends, family, and other shoppers. $10
  • Consumers trust consumer reviews 12x more than the manufacturer’s description. 70% trust the opinions of unknown users 90% trust recommendations from people they know11
  • and how does this affect purchasing decisions ?12
  • 74% of consumers rely on social networks to guide purchase decisions Almost 50% of shoppers have made a purchase based on a recommendation through a social media property.13
  • receive advice from friends and family 81% relating to a product purchase through a social networking site. found the advice 74% to be influential in their purchasing decision.14
  • What happens to word of mouth?15
  • The average consumer mentions specific brands 90 times in conversations with friends, family, and co-workers. / per week16
  • Social media amplifies word of mouth17
  • Especially on sites like Over half a million tweets, 20% involve asking and providing product information.18
  • 53% of people on Twitter recommend companies and/or products in their tweets.19
  • 43% deliver on their intention to buy the product.20
  • 18% 0 <Users who follow brands on Twitter are nearly 18% more likely to purchase something from that brand than those who follow a brand on Facebook.
  • or Over 286,000 haul videos act as the ultimate “Shop & Tell”22
  • So what are people buying online?23
  • MOST POPULAR ONLINE PURCHASES Electronics Books 16% 28% Airline Tickets 16% 16% 24% DVDs, Games Clothing24
  • Social media is ideal for in-depth product reviews and products that require a demonstration. Like...25
  • Consumer Electronics Online user reviews have the biggest influence on consumer electronics purchases, with 43.7% of purchases affected by word of mouth.26
  • Make up This YouTube beauty guru has 476,553 subscribers27
  • or Online Shoppers 67% of shoppers spend more online after reading recommendations from online community of friends.28
  • So how influential are these online reviews?29
  • 64% of respondents had watched a user-generated review. More than three-quarters of group said it helped them make a purchase decision- either for or against a product or brand. Source: a 2010 study by Internet Retailer30
  • 81.3% listed the ability to see the product in action as their favorite thing about video reviews. Source: a 2010 study by Internet Retailer31
  • But can social media improve your bottom line?32
  • ...Oh yeah33
  • Brands with the highest social media activity / reviews increased revenues by 18% Blogs, Facebook, Twitter, and Reviews are considered the most effective tactics for mobilizing consumers to talk about products online.34
  • So who’s doing a great job of this?35
  • & Give individual demonstrations/explanations of each piece and allow you to purchase them directly within the video.36
  • & 22,000 22,000 site launches led to 800 orders (3.6% conversion rate) site launches led to 800 orders (3.6% conversion rate)37
  • & o f the Day ‘ Deale for e xclusiv ans only Fac ebook f Haul videos bring products to life with a first-hand demonstration and customer review38
  • Great incorporation of customer reviews / how-to videos take the risk out of buying products like soap online.39
  • & Orabrush reached out to top YouTubers to have them make a video review of their product if they liked it.40
  • The results...41
  • “ Branding is what they say about you ” after you leave the room.42
  • Are they saying the right things about your brand?43