Social Commerce: Secrets for Turning Social Media into Social Sales

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Editors of Social Commerce Today, Paul Marsden and Paul Chaney share top insights from their forthcoming book The Social Commerce Handbook: 20 Secrets for Turning Social Media into Social Sales. Learn how big brands and smart businesses are making social media pay.

This presentation covers a variety of topics:

- Information on how social outlets can be used as an e-commerce tool.
- Tips and tricks on how to do social commerce right.
- Practical principles to help you unlock the sales potential of social media.

Presentation created by Paul Marsden and Paul Chaney.

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Social Commerce: Secrets for Turning Social Media into Social Sales

  1. 1. How to TurnSocial Mediainto SocialSalesPaul Marsden & Paul ChaneySocial Commerce Today
  2. 2. Dr. Paul Marsden: Consumer psychologist and market researcher focusing on digital innovation, social media and e-commerce Paul Chaney: Social media, social commerce and Internet marketing consultant, speaker, trainer and author known as The Social Media HandymanHello! We‟re the Two Pauls...
  3. 3. Sharing six insights for turning social media into socialsales from our latest book...
  4. 4. “IF I HAD TO GUESS SOCIAL COMMERCE IS THE NEXT AREA TO REALLY BLOW UP” MARK ZUCKERBERG...from the new field of „social commerce‟ - helping peopleshare where they shop and shop where they share
  5. 5. SOCIAL COMMERCE HELPING PEOPLE SHARE HELPING PEOPLE SHOP WHERE THEY SHOP “IF I HAD TO GUESS WHERE THEY SHARE SOCIAL COMMERCE IS THE NEXT AREA TO REALLY BLOW UP” MARK ZUCKERBERGSOCIAL APPS FOR E-COMMERCE SITES E-COMMERCE APPS FOR SOCIAL SITES $30BN MARKET Source Booz & Co (2011) “Turning Like to Buy”
  6. 6. SOCIAL COMMERCE “IF I HAD TO GUESS WHY? SOCIAL COMMERCE IS THE NEXT AREA TO REALLY BLOW UP”1) IT‟S WHAT YOUR CUSTOMERS WANT MARK ZUCKERBERG2) IT‟S WHAT YOU NEED (BETTER ROI)3) IT‟S GOOD CUSTOMER ECONOMICS
  7. 7. 1) Social commerce is what your customers want...
  8. 8. WHAT CONSUMERS WHAT BUSINESS THINKS WANT CONSUMERS WANT DEALS NEW PRODUCT INFO PURCHASE GENERAL INFO READ USER REVIEWS SHARE OPINION GENERAL INFO EXCLUSIVE INFO EXCLUSIVE INFO READ USER REVIEWS NEW PRODUCT INFO FEEL CONNECTED SHARE OPINION CUSTOMER SERVICE CUSTOMER SERVICE SUBMIT PRODUCT IDEAS PARTICIPATE IN EVENTS BE PART OF A COMMUNITY FEEL CONNECTED PARTICIPATE IN EVENTS SUBMIT PRODUCT IDEAS PURCHASE BE PART OF A COMMUNITY DEALS Source IBM (2011) From Social Media to Social CRM1) Social commerce is what your customers want...
  9. 9. the black hole of social media $ $ $ $ $ $$ $ $ $2) Social commerce is what you need (ROI)
  10. 10. 1 Word of $1927 Mouth Value Total Customer Value $2446 Sales Value $43733) Social commerce is good customer economics
  11. 11. 1 SOCIAL COMMERCE “IF I HAD TO GUESS HOW? SOCIAL COMMERCE IS THE NEXT AREA TO REALLY BLOW UP” MARK ZUCKERBERG1)... 4)...2)... 5)...3)... 6)...
  12. 12. 1First, how NOT to do social commerce...
  13. 13. 1Get the business basics right... sell socially with a clear anddifferentiated value proposition...
  14. 14. 1For instance, Heinz opened a pop-up social media store tosell personalised get well soup; 1 in 8 fans bought...
  15. 15. 1More generally, social commerce works when you helppeople solve their problems socially
  16. 16. 1 SOCIAL INTELLIGENCE “A wise man learns from the experience of others, a fool by his own”Secret 1: help people solve problems socially by helpingthem solve problems together; with their social intelligence
  17. 17. 1A second secret is to help people solve a core „socialproblem‟ - that of „social status‟...
  18. 18. 1Secret 2: Help solve problems of „social status‟ with earlyaccess (and bragging rights) to new products...
  19. 19. 1A third secret is to help people solve another core socialproblem - that of „social bonding‟...
  20. 20. 2Secret 3: Solve peoples problems of social bonding withwith social gifts and gifting
  21. 21. 2 Helping people solve problems socially Helping people solve social problemsIn sum, smart businesses are using social commerce todeliver „social utility‟
  22. 22. 2 SOCIAL UTILITY using social media to help people solve problems socially and solve social problems social social social intelligence status bonding $$$$$$ SOCIAL SALES $$$$$$So here‟s the big secret to selling with social media: Offer asocial shopping service that has genuine social utility
  23. 23. 2“In a word, social commerce is about discovery.”Christian Taylor, Founder, PayvmentSecret 4: Social commerce is not just about “buying” aspectof social media, but the “discovery” component as well
  24. 24. 2Social shopping sites are designed for browsing andsharing as much as they are for searching and transacting
  25. 25. 2Social product discovery works because we pay attentionto our “social graph” and "interest graph"
  26. 26. 2Shopycat searches through a large product database tofind what it surfaces as the right gift for friends
  27. 27. 2Secret 5: Lead with purpose, not a pitch. Be purpose driven.
  28. 28. 2Nike‟s brand purpose: “We exist to help everyone toachieve their athletic potential.”
  29. 29. 2Social media has become a conduit though whichpsychological needs can be met, to some extent
  30. 30. 3For Target and Delta meeting needs and solving problemswas the guiding purpose of each app
  31. 31. 3Secret 6: Provide a social marketplace where buyers andsellers come together to exchange goods and services
  32. 32. 3DHGate shrinks an unwieldy global marketplace into onethat‟s manageable, trusted, and safe
  33. 33. 399Designs is a marketplace that matches those in need oflogo and web design with freelance designers
  34. 34. 3Social marketplaces foster interaction between merchantsand their customers via community-based interactions
  35. 35. 3Threadless sells out of every line it produces
  36. 36. 3Etsy gives businesses the ability to sell handmade andvintage products to consumers in bazaar-style fashion
  37. 37. 3AirBnB is a peer-to-peer marketplace that allows people toshare their homes with travellers around the globe
  38. 38. 3 Lead With Drive Discovery Purpose Create Social MarketplacesThree secrets to turn social media into social sales
  39. 39. 3Thanks! Find out more in our “F-CommerceHandbook”&“Social Commerce Handbook” from McGraw-Hill

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