10 Trends in Social Commerce

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My top 10 trends talk presented at the Dallas Social Media Club on April 25, 2013.

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10 Trends in Social Commerce

  1. 1. 1 Contents are proprietary and confidential.
  2. 2. 2 Contents are proprietary and confidential.
  3. 3. 10 Trends in Social CommerceDallas Social Media ClubApril 25, 2013
  4. 4.  Aaron Strout, W2O Group Managing Director, Head of SocialCommerce blog.wcgworld.com amzn.to/lbm4d @aaronstrout
  5. 5. so·cial com·merce /ˈsōSHəl ˈkämərs/nounThe intersection of analytics, advocacy, content andeducation with the purpose of narrowing the gapbetween customers and business transactions.5 Contents are proprietary and confidential.
  6. 6. The World We Live in Has ChangedThe majority of content we consume is not via a mediaoutlet. It is through our friends and networksMedia refers to allcontentBlogs, Twitter, Facebook wall, mainstream media, videoNews flow has 5 driversIf “media” is redefined, how could media plansstay the same?Media plans arebecoming obsoleteOur information needs change as our journey evolvesleading to different content, places and devicesMultiple ChannelContent Consumption65% of people believe they are visual learnersVisual Trumps CopyContent is now part of the rhythm of life. 1,9,90Content must be Fluid
  7. 7. Interpreting BehaviorAWARENESSGetting someone’s attention is thebeginning of every relationship.Sometimes a whisper is moreimpactful than a shout. Yet, volumewon’t matter if your story isn’tcompelling.ACTIONYou’ve hit pay dirt.Customers are nowengaging directly withyour brand gainingfirst hand experiencebut now they arebehind the wheel.AMBASSADORWe’ve reached the definingmoment, customers share theirexperience, carrying the brandforward to people we could neverreach. Now we must forge apartnership with our most loyalcustomers who are our bestadvocates… make that evangelists.ASSESSMENT (PRE)You’ve got their ear. This is wheredecisions are made, so what you say– and how you say it – needs toresonate and penetrate thecustomer’s consciousness. Ifsuccessful they take action.ASSESSMENT (POST)Hope you made a good firstimpression. Now they get to evaluatetheir experience and relationship withyour brand. Did it deliver on thepromise? Did it disappoint? Eitherway, you have to be there to answer.
  8. 8. Top Brands Becoming Content Curators…• Top curated content from pre-screened, influential onlinesources.• Content created by approved staff contributors.• Ranked by online reach + whether staff has interacted with it.• Potentially featured by a staff Editor.
  9. 9. Top Ten Online Influence AreasInfluence Areas Trend RelevanceAudioFavorite of sales force,customers on the goPodcasts of all types, plus audio tracks of video segments are an undefined area ofonline, yet have growing utilityBlogs>200MM; trend is to havemultiple blogs, multiplelanguagesWe should know the top influencers by topic who drive relevant share of voice. Thenumbers of influencers are small, precision is key.Data / Slides30MM uniques atSlideShareA great location to share all public presentations.ForumsThe engine of conversationsonline; often patient drivenKnowing who is driving conversation in forums is key. We should treat high volumemoderators with the same respect as we do with journalists.ImagesIs all content tagged toimpact natural search?Companies often forget to tag all content in the 10 languages that reach 90% of theonline population.Micro BloggingAn effective way to alertinfluencers, help propelnews cyclesA great opportunity to build a network of influencers who want to share your news inreal time. Twitter is a prime example.SearchYes, Google is #1, butYouTube is #2We need to know the influencers on the first screen for our brand and key topics. Wealso need to understand where people are taken when they search.SocialNetworksThe communities that areoften our “first place” to goonlineOur day often starts and ends with Facebook or MySpace or Orkut or other dependingwhere we live.VideoConsumption habits arestarting to favor video vs.copyThere are over 50 video sites to analyze, which sometimes house ratings and reviewsof our products.WikisFree online peer editedonline encyclopediaNearly every topic has a Wikipedia entry, which means it could be the first informationa consumer finds about any topic they are seeking information about.
  10. 10. 10 SOCIAL COMMERCE TRENDSContents are proprietary and confidential.
  11. 11. 1. C²2C replaces B2B and B2C as the mostimportant model to reach customers
  12. 12. Critical Skill: You will pretend youare a customer who snuck intoyour company when you build outyour plans and models.
  13. 13. 2. The evolution of open-source marketing has led to“Storytizing” which will replace advertising as the lead form of media.
  14. 14. Critical Skill: You will build allmedia plans to improveyour customer’s ability totell your story with a focus on“shareability,” “measurability” and“control-ability.”
  15. 15. 3. Forensic analytics requires us to thinklike detectives, find clues, follow theirpath and locate solutions
  16. 16. Critical Skill: You will center yourquestions on what you see in themarket. You will hit yourself in thehead if you are drawingconclusions only from researchprepared just for you.
  17. 17. 4. Psychology, Nature, Statistics andEconomic Models offer clues on how tobuild unique market advantage
  18. 18. Critical Skill: You realize all ofyour models are old school. Keyis introducing new models fromoutside your comfort zone to helpevolve your business and pursueuntil you find competitiveadvantage.
  19. 19. 5. You can become the top media outlet in yourindustry/area if you think like a publisher and buildyour social cloud architecture
  20. 20. Critical Skill: You will becomethe best publisher and talentagent in your industry bytapping into the right content fromyouremployees, influencers, partnersand customers.
  21. 21. 6. Commerce will occurwhere it is mostconvenient to occur,anywhere in the world
  22. 22. Critical Skill: You will be expert onhow to optimize localexperience, while building globalmomentum.
  23. 23. 7. Customer Service willbecome a socialcommerce profit andknowledge center
  24. 24. Critical Skill: You will turncustomer service into a profitcenter and an area of marketingexcellence for your company.
  25. 25. 8. Paid media will become the supporting actor for earned media
  26. 26. Critical Skill: you will build mediaplans starting with yourcustomer’s needs. You realizethat earned media is really codefor customer media and you willexcel in this media first.
  27. 27. Cybersecurity• How are we helping our customers become smarter about how to protecttheir companies/brands?• Common sense is what is require + knowledge of what is required toimprove safety• Can someone just help me figure it out?• What actions are we taking that invite hackers? Spammers?28 Contents are proprietary and confidential.9. Cyber security for companies and our customers willbecome the new priority for protecting one’s reputation
  28. 28. Critical Skill: you expect thatyour top issues in the future willrelate to cyber security and turnthis into an area of competencefor every customer-facingmanager in your company.
  29. 29. 10. A new “brain” willenable you tobecome thesmartest member ofyour ecosystem
  30. 30. Critical Skill: You will buildmarketplace advantage via thecreation of your new “brain”. Yourealize you are now partneringwith your futurecompetitors, unless you becomethe smartest member of yourecosystem.
  31. 31.  Aaron Strout, W2O Group Managing Director, Head of SocialCommerce blog.wcgworld.com amzn.to/lbm4d @aaronstrout
  32. 32. Contents are proprietary and confidential.

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