Social commerce- the transformation of e commerce with social computing

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This presentation walks you through the function of e-commerce and it's applicability.

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Social commerce- the transformation of e commerce with social computing

  1. 1. 1 PMPC 2013 Ranan Bhattacharya, PMP, CSM 30 August 2013 Social Commerce: The transformation of eCommerce with Social Computing
  2. 2. 2 PMPC 2013 Social Commerce : Transformation of eCommerce with Social Computing Agenda • eCommerce 1.0 to eCommerce2.0 • Business Strategies • Challenges • Business Transformation • Project Management Transformation
  3. 3. 3 PMPC 2013 Transition : eCommerce 1.0 to eCommerce 2.0 • Problems with eCommerce 1.0 – Quality of the good – No return policy – Solo experience • Changes with eCommerce 2.0 – Networking to reach out to a bigger mass – Shoppers can Review & Compare – On-Time delivery – Cash On Delivery – Easy return policies eCommerce 1.0 Category Managers Content Editors Marketing Sales Technology eCommerce 2.0 Moderators Community Managers Product Managers Sales Social Commerce : Transformation of eCommerce with Social Computing
  4. 4. 4 PMPC 2013 Strategies for Business Transformation - Enhance brand with seamless social sharing • Reach bigger audience • Create product awareness • Use customers to spread the brand • Before Purchase - People do a market research about a product • During Purchase - Users look for options to personalize or customize the eCommerce portals • After Purchase - Users start sharing her experience • Social Commerce : Transformation of eCommerce with Social Computing
  5. 5. 5 PMPC 2013 Strategies for Business Transformation - Multiply sales through recommendation • Awareness does not bring revenues • Repeat business and referrals generate business • Existing customers work as Marketing partners • Social Commerce : Transformation of eCommerce with Social Computing
  6. 6. 6 PMPC 2013 Strategies for Business Transformation - Improve engagement via loyalty & gamification • Introduce rewards, recognition, loyal ty points, badges, special status • Use Gamification to stimulate connections for more interaction • Change the customer engagement from Awareness to Advocacy ** Studies have shown that users spend more time on the social networking sites when proper user management and loyalty programs are introduced • Social Commerce : Transformation of eCommerce with Social Computing
  7. 7. 7 PMPC 2013 Strategies for Business Transformation - Measure market trends using social analytics • Social Commerce : Transformation of eCommerce with Social Computing
  8. 8. 8 PMPC 2013 Strategies for Business Transformation - Measure market trends using social analytics • Social Commerce : Transformation of eCommerce with Social Computing
  9. 9. 9 PMPC 2013 Strategies for Business Transformation - Measure market trends using social analytics • Social Commerce : Transformation of eCommerce with Social Computing
  10. 10. 10 PMPC 2013 Strategies for Business Transformation - Measure market trends using social analytics • Provide Market trends & preferences • Used for targeting & personalization • Independence from physical survey & manipulated data • Some of the examples of Analytics reports are – Trackbacks report shows you which sites are linking to the merchant’s portal – Data Hub Activity report shows you how people are talking about – Network Referrals to see engagement metrics (Pageviews, Avg. Visit Duration, Pages/Visit) Cash On Delivery – Social Visitors Flow shows the initial paths that visitors from social networks took Social Commerce : Transformation of eCommerce with Social Computing
  11. 11. 11 PMPC 2013 Challenges on the way of transformation • Social Network is private space • Social space is not to be used primarily to ask for Buying • Push for ‘Buy’ sometimes treated as a negative signal • Stay simple during the changing trends & stiff competition **Forrester's research report says 36% people dont like to receive mails even from their most favorite retailer • Social Commerce : Transformation of eCommerce with Social Computing
  12. 12. 12 PMPC 2013 Simplified Social integration for End Users • Social Commerce : Transformation of eCommerce with Social Computing
  13. 13. 13 PMPC 2013 The business transformation in eCommerce space Traditional eCommerce Social eCommerce Implementation Dynamics Inventory Management & traditional supply chain Resource optimization with delayed integration Business Case Merchants develop online store with a channel to pay online Retailers provide online store with plug-ins for users to compare, buy & share experience Business Processes Branding, Marketing & Sales Create awareness, engage & retain Choice Of Products Comparison buying is not possible Comparison buying is possible Financial transactions Physical financial transaction with limited options & offers Multiple payment options with various loyalty programs, reqards & offers Cost Higher Lower Reliability Based on brand value Higher, references by known circle of people Flexibility Lower, resources available from only one inventory Higher, resources available from multiple marketplaces Frequency of Transactions Smaller frequency with higher value per transaction Mass market but lower value per transaction • Social Commerce : Transformation of eCommerce with Social Computing
  14. 14. 14 PMPC 2013 Project Management practices for the Business transformation Stakeholder Management • Identify the changing trend of the users • Select the right target audience • Stay engaged with customer Communication Management • Create awareness about your brand • Increase brand value by sharing customer’s reviews • Influence buyers with rewards, points, vouchers etc. Human Resource Management • eCommerce 2.0 needs organizational restructuring • Introduction of Community managers • Social Commerce : Transformation of eCommerce with Social Computing
  15. 15. 15 PMPC 2013 Conclusion • “If you lose money for the firm I will be understanding. If you lose reputation I will be ruthless.” - Warren Buffet • Marketers are no longer interested in mass-marketing • Reach individual with specific preferences, passions and interests • Better understanding of your customers • Increased engagement from the users • Users feel rewarded and recognized • Businesses enhance branding & marketing reach through referrals & repeat business • Social Commerce : Transformation of eCommerce with Social Computing
  16. 16. 16 PMPC 2013 • Social Commerce : Transformation of eCommerce with Social Computing

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