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Social Media and Ecommerce - Accelerating Revenue with Engagement. Presented at Your Customer - Your Asset Nov 28, 2011 in Copenhagen Denmark by William Toll @utollwi william@williamtoll.com

Social Media and Ecommerce - Accelerating Revenue with Engagement. Presented at Your Customer - Your Asset Nov 28, 2011 in Copenhagen Denmark by William Toll @utollwi william@williamtoll.com

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  • 1. Accelerating Ecommerce Revenue with Social MediaPresenter: William Toll VP, Marketing, Yottaa Twitter: @utollwi http://np.netpublicator.com/?id=n05048178
  • 2. William Toll Twitter/Skype: @utollwi Marketing & Product Management Executive •1999 ValueWeb (Now Hostway) •2002 NTT/Verio •2004 Affinity Internet (Now Hostway) •2006 Intermedia.NET •2008 NaviSite (Now a Time Warner Cable Company) •2011 Yottaa
  • 3. Commerce is a social construct
  • 4. Alaskan Dude
  • 5. anyjazz65
  • 6. krossbow
  • 7. zoetnet
  • 8. Avrenim_acceber
  • 9. Khym54
  • 10. Mehfuz Hossain
  • 11. The conversation has moved. It’s now online.
  • 12. Billions of Minutes Monthly
  • 13. Disruption everywhere!• German Internet users spend more time on social networks and blogs than they do any other online category of sites, a total of 12.7 billion minutes in May 2011. (Nielsen)• UK Internet users visited 229.6 million pages on Tubmlr #2, after Facebook 20.2 billion page views. (Nielsen) http://blog.nielsen.com/nielsenwire/social/
  • 14. Ecommerce(Buying & Selling Online) Social Commerce (Linking Social Media and Social Media Ecommerce) (Online MediaSupporting Social Interacion and User Generated Content)
  • 15. Social Media: Fuel for your sales engine
  • 16. 72% of retailers plan to spendmore on marketing via socialnetworks this year than in2010 State of Retailing Online survey conducted by Forrester Research Inc. for Shop.org http://www.internetretailer.com/2011/05/31/retailers-bet-social
  • 17. Product Product ProductDiscovery Selection Referral• Awareness • Decision • Evangelism• Index Support • Referrals
  • 18. It’s always about the people
  • 19. People Talk
  • 20. By 2015 companies willgenerate 50% of Web salesvia their social presence andmobile applications. Gartner Research
  • 21. Social Commerce Growth $30 Billion (2015)$5 Billion (2011) Booz Allen
  • 22. You can’t run from verbs!
  • 23. Your Ecommerce SiteIncreased Sales, Visitors Share Higher Products or Conversions, Purchases More Referrals Friends/ Followers: Click Links and Share more
  • 24. Let’s go shopping
  • 25. 1 2 3 4 5 6 71. Personalized 5. Customer Supplied Images2. Lists 6. Share3. Reviews 7. Algorithm4. “Like”
  • 26. 1 3 4 25 1. Share Your Purchase: 3. Share on Twitter Facebook 4. Share via Email 2. Post to Facebook Wall 5. Algorithm
  • 27. 1 21. Facebook – My Avatar. Long Description from Amazon2. Buy now button
  • 28. 1 21. Share via Email2. Buy Now/Learn Morel
  • 29. 11. Share via Twitter
  • 30. 1 3 21. Simple Twitter search for @amazon “I just bought” – every few minutes another Tweet2. Link to purchase3. Walmart – Promoted Tweet
  • 31. 11. Simple report (non-subscriber, limited results) – last 50 Tweets with “I just bought @amazon”. 52,050 potential views in 50 Tweets
  • 32. 1 21. Another “free” tool – Twitter Sentiment – Positive mentions of Amazon = 80%2. NOTE! Reviews can now be Tweeted, just like purchases can be.
  • 33. Amazon shows the way. Accelerate your sales withSocial Media.
  • 34. 2 11. Popular Childrens Toy Ecommerce Site in Denmark – www.br.dk2. Share a link. Note no “cc” of the brand BR in the default Tweet text, a missed opportunity.
  • 35. 1 2 11. dba. A popular ecommerce site in Denmark, owned by eBay. 1.1 million uniques monthly. Send to Facebook button2. Facebook like button
  • 36. 3 1 21. dba. – Good engagement with customers – <50 minutes and a full reply.2. 32,000 likes3. Fcommerce – Shopping on Facebook
  • 37. The 67% of visitors spend average consumer that has 90% of purchases are more after “followed a retailer” now influenced socially recommendations follows an average of 6.3 retailers (2) 71% of ecommerce 60% of social media users53% of retail transactions shopping carts will be visit these networks to w/ Facebook converted abandoned receive coupons or promotions (1) 53% of retail transactions involving Facebook directly converted (from Facebook to checkout). [Source: Efficient Frontier, November 2010] 90% of all purchases are subject to social influence (Wired Magazine (UK) 67% spend more online after recommendations Bazaarvice.com (1) http://www.mediapost.com/publications/article/161714/want-brand-love-on-social-offer-discounts.html?edition=39923 (2) http://www.thepartneringgroup.com/pdf/2011_Social_Commerce_Study_%20exec_summ.pdf (3) http://www.shop.org/c/document_library/get_file?folderId=193&name=DLFE-904.pdf
  • 38. Social Media ecommerce action plan:
  • 39. • Where are they? • Be Human • SharesListen • What are Engage • Be Inspire • Referrals they Responsive saying?
  • 40. •Discover where your buyers are talking. What social networks are they on.Listen •What are they saying? Reviews? Recommendations? •How are they saying it? What words do they use? •How connected is their community? How influential are they?
  • 41. Listen
  • 42. •Participate in the conversations. •Offer help, advice, service. Don’t sell!Engage •Be human. Be authentic, don’t mask your identity. •Be transparent! We all make mistakes, own up to them. •Enlist help! Your employees and customers are part of the community – encourage them to participate. •Guide your employees. Reward your best brand ambassadors. •As Google’s SERPs (Search Engine Results Pages) become more social, it’s critical that your business, employees and customers become more social.
  • 43. Engage
  • 44. Engage
  • 45. •Make it fun, make it social. •Add sharing buttonsInspire •Enable reviews, foster methods for generating user generated content •Surprise them! •Create inspirational video content •Create promotions and contests for customers to join •Never give up. Silence is defeat. •Trust and passion for your brand will die.
  • 46. Inspire
  • 47. Inspire 1 1. Make it sharable!
  • 48. Listen Tweet received In response to content I shared with my social network.Inspire Tweet received in response to a Tweet about some direct mail I received.Engage Tweet received in response to a blog post I wrote with a question on GaggleAMP’s roadmap.
  • 49. Inspire 1 1. Make it fun, enlist your employees. http://www.youtube.com/watch?v=Pe2yUGtczT4
  • 50. Is your ecommerce business social? What isworking for your business?
  • 51. Thank You William Toll Twitter/Skype: @utollwi william@williamtoll.com