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The Social Consumer: Cashing in on the social graph - MaRS Market Insights
 

The Social Consumer: Cashing in on the social graph - MaRS Market Insights

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The shopping experience, both online and offline, has been transformed by social media. The voice of the customer heard through online networks influences their purchase decisions, and new ...

The shopping experience, both online and offline, has been transformed by social media. The voice of the customer heard through online networks influences their purchase decisions, and new technologies are redesigning in-store shopping. But will social commerce really be a $30 billion global opportunity by 2015?

With less than half of Canadian small- and medium-sized businesses online, and more than 90% of purchases still taking place in bricks-and-mortar stores, is it really necessary to leverage the social graph at this time? Are social networks like Facebook and Pinterest the next wave for e-commerce? Where should marketers and retailers focus their efforts? What role do startups play in the social commerce ecosystem?

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    The Social Consumer: Cashing in on the social graph - MaRS Market Insights The Social Consumer: Cashing in on the social graph - MaRS Market Insights Presentation Transcript

    • 2 Janice Diner Social Marketing Technology Social Sales Incentive and Training Platform Advisor & Client@janicediner • www.horizon-studios.com
    • 3Social Commerce Opportunity $30 Billion Opportunity 2015 Social Commerce Opportunity $30 B + 600% - Booz Allen $5 Billion Opportunity 2011 2011 2015 Booz Allen forecasts that today the social commerce opportunity is worth $5 Billion and by 2015 it will be worth $30 Billion (a 600% increase!).
    • 4The social consumer is a new breed ofengaged and informed consumer They are researching, we talk about what we buy chatting, booking, sharing, blogging, Facebooking, tweeting every aspect of their lives and buying before we buy while experience with their friends online, on mobile devices we buy after we buy and in multiple Social Networks
    • 5The numbers tell the story, a lot of time is spent on Social Networks11,092,299 40,491,000 29,153,439 11,399,103 34,345,293 845+ million people share 4 B pieces of content daily25,416,893 1,408,654 23,223,582 8,363,218 2,403,08513,372,043 1,357,761 7,830,495 3,761,377 8,352,658
    • 6 Shopping is social!"Social commerce needs "to actually be social ...." "
    • 7Every industry and vertical is going tobe rethought in a social way.The real opportunity is about peopleredesigning these spaces.
    • Merchants of ‘Social’ Six Ontario-based companies driving the growth of social commerce. www.marsdd.com/reports
    • 9 The Social Consumer: Cashing in on the social graph Peter Sheldon Senior Simon Chong Analyst Forrester Managing Director Research Georgian Partners Marianne Hamilton David Man, Chief Director of Marketing Technology Officer SimplyMotorola Mobility Canada Good Technologies
    • The Social Consumer: Cashing in on theSocial GraphPeter SheldonSenior Analyst, Serving eBusiness & Channel Strategy ProfessionalsForrester ResearchApril 17, 2012 @peter_sheldon10 © 2012 Forrester Research, Inc. Reproduction Prohibited 2009
    • To-date social networks have primarily been communication (versus shopping) tools11 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • Which has created a challenge for retailers when justifying the ROI associated with social Source: The State of Retailing Online 2011,” a Shop.org study conducted by Forrester Research12 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • However this has not prevented retailers like Sephora and RueLala from experimenting with social13 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • And retailers and brands from integrating social authentication into their online experience14 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • Few marketers are yet diverting their advertising budgets away from traditional programs15 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • But this may change as Facebook rolls out their “Offers”platform16 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • 72% percent of retailers increased their spending on social commerce in 2011 Source: The State of Retailing Online 2011,” a Shop.org study conducted by Forrester Research17 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • Brands are finding that Facebook fans are much more likely to purchase, consider, and recommend than non-fans Source: North American Technographics® Online Benchmark Recontact Omnibus Survey, Q4 2011 (US)18 © 2012 Forrester Research, Inc. Reproduction Prohibitedor †Respondents who are likely highly likely to consider the brand for a future purchase. ‡Respondents who are likely or highly likely to recommend the brand to a friend or relative.
    • Pinterest is attracting the eye of retail marketers, but only a few are yet pursuing the opportunity19 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • Motorola Mobilityand Social CommerceMaRS Market InsightsApril 17, 2012MOTOROLA and the Stylized M Logo are trademarks or registered trademarks of Motorola Trademark Holdings, LLC. © 2012 Motorola Mobility, Inc.All other trademarks are the property of their respective owners. © 2012 Motorola Mobility, Inc. All rights reserved.
    • Social is a core business strategy for Motorola •  Communication Owned Paid Inside Motorola •  Education Facebook Search Twitter •  Product Demo Display YouTube Sponsorship •  Advocacy Google+ •  Research Earned Foursquare Reviews •  Product Dev Consumer •  Customer Service mentions (blogs) Forums © 2012 Motorola Mobility, Inc.
    • Because it’s where our audience is• Mobile device integration• Conversation drives consideration• Our role – Add value with relevant content – Entertain – Empathize – Learn – Adapt © 2012 Motorola Mobility, Inc.
    • Social also bridges gaps in the physical realm 24-7 B2B communications Manpower Word of mouth constraints © 2012 Motorola Mobility, Inc.
    • Case in Point: Motorola Insiders 24 Because it was on Facebook it was easy to access from any type of device. © 2012 Motorola Mobility, Inc.
    • Ultimate Purpose: Increase Retail Recommendationand Sell Through conversationsSuccess factors: 20,000 between sales reps •  EnterTRAINment •  Ongoing, two-way dialogue 26% increase product sales •  Reward for participation = increase product •  Tangible & intangible prizing 50% recommendation in- store •  Advocate support of invited sales 80% reps participating © 2012 Motorola Mobility, Inc.
    • Additional benefits realized… Agile marketing Access to first hand information Ability to influence A matter of efficiency © 2012 Motorola Mobility, Inc.
    • 27And the communityhas spoken! © 2012 Motorola Mobility, Inc.