Built for the Nordic e-commerce Knowledge Conference on 20th May 2014, this presentation covers some of the trends for 2015/16 ~ including how to approach social commerce and more importantly ~ how NOT to.
Strategy – purpose – WHY?CMO’s – challenge isn’t to do more with less (cut budgets)To do more with more – increased budgets / increased data
Story telling in swipesMoments that matterSocialnomics 2014 @equalman
So everyone is now running around trying to figure out how to tell stories in 7 seconds (Vine)….
From 1:16Command Center – big radian6 users
From 1:16Command Center – big radian6 users
Built by LVMH
Red Bull tried to solve this – 50% of people use social to waste time – so let’s give them some epic shit to do while they’re thereRovio built a business on it – Angry Birds FB page
Advertising – click-to-share v click-to-buySo we SELL to our friends?
So people were all putting BUY NOW buttons on things – and what happened???Does anyone remember these?F-commerce. We ALL thought it was going to be huge in 2010?Nobody bought anything. Technology wasn’t in place to accurately figure out the value of a fanNO – WHAT DO PEOPLE WANT TO SEE ON FB?
Pinterest – “the site that shows you things you didn’t know you needed”According to Rich Relevance, Pinterest already generates twice as much revenue for retailers than Facebook and hasDouble the conversation rate of Twitter (0.96 per cent to 0.49 per cent)$4bn valuation.Testing promoted pins with Gap, Disney, Banan Republic and others…https://business.pinterest.com/en/content/webform/promoted-pinsWHAT ABOUT YOUTUBE????
World’s second biggest search engine
Search and SEO?WHAT ABOUT TWITTER – t-commerce?
Intent – INTEREST graphClick-to-share NOT click-to-buy
Deloitte – by 2017 Amazon could own up to 23$ of global e-commerceBiggest social network???Twitter commerce? NOT AT ALL – not a social networkTwitter needs revenue. Amazon needs social. But this partnership is NOT social shopping. (Friend around for dinner trying to sell you a set of steak knives!)
Twitter commerce?Black Friday this year $1.2bnAmazon up 40% YoY after Bezos on Today show
But we’re all running around building mobile optimised responsive sites60% apps never been downloaded from iStore (450,000 so apps aren’t a guarantee either!)
Anapp that HAS been downloaded Because it’s a 100% SOCIAL SHOPPING APPMillions of users.50 global chains already have WANELO buttons (Forever 21, Urban Outfitters, Sephora)85% mobile
Apologies for Bwest quality
Credit Suisse 2013 report – 40% garments returned
21 – 99% accuracy cart abandonment rates /
Judd- stop presentation here! HUGE opportunityNordics – 3 top 5 – social penetrationIceland 70%Norway 64%Malta 58%Denmark 58%Sweden 57%
In addition to the fastest growing countries, Flurry also measured which markets are mostly rapidly nearing saturation. Specifically, we compared the number of active devices in each country relative to its adult population, between ages 15 and 64 years old. While Singapore, Hong Kong and Sweden form the top three countries in terms of smart device penetration, indicating their strong consumer technology economies, each country has a relatively small total population, ranging between 5 to 10 million. By comparison, the United States, the fifth most penetrated country with 78% of its adult population using smart devices, has a total population of more than 310 million. South Korea and the United Kingdom have the 2nd and 3rd largest populations among the top 10 penetrated markets, with roughly 50 million and 60 million respectively.We forecast mobileadvertising to grow by an average of 50% a year between2013 and 2016, driven by the rapid adoption of smartphonesand tablets. By contrast we forecast desktop internetadvertising to grow at an average of 7% a year. (Zenith Optimedia)
Challenge: Companies not willing to spend money if the don’t see the ROI very clearly
SportchekCanada’s largest sportwear retailerCancelled DM – targeted FB ads based upon customer segmentation and demographic profiling from their customer baseStore traffic increased 40%For every $1 spent on FB – they received $1.40 in salesWhy am I telling you this? US study and we’re in Denmark? (opinions of channel marketers / NOT CMO / CIO’s)Despite: Highest level or smartphone penetration and social media adoption in the world
Half life of a tweet 6 minutesSLA’s customer service = 20 minutes on FB / 1 hour on YouTube and email
ET does this for brands like NIKEWe power 8/10 worlds biggest e-commerce sitesNikes emails – up to 1m minute / 19bn a day
Throughout every part of the customer lifecycleONLY ~ Complete customer journey – end-to-end = ETMC
But it’s up to us
2014 – mobile
How Do To Build an E-Commerce Brand for 2016
Head of Digital Strategy EMEA