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How Retailers Can Connect With Social Shoppers #HighPoint

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Considering that four in ten social media users have purchased an item online after sharing it on Twitter, Facebook or Pinterest there is a lot to gain by leveraging the loyalty and sustained satisfaction social media can bring. Successful social media campaigns start with understanding the behaviors associated with your audience; we’ll examine millennials’, moms’, and baby boomers' shopping behaviors. Learn best practices designed to get the most out of social media as you launch campaigns to connect with customers online and in-store.

Published in: Social Media

How Retailers Can Connect With Social Shoppers #HighPoint

  1. 1. THE SOCIAL SHOPPER How Retailers Can Connect With Customers Marisa Peacock the Strategic Peacock North American Home Furnishings Association #NAHFA High Point Market, High Point, NC April 18, 2015
  2. 2. WHAT IS SOCIAL SHOPPING? Social shopping refers to consumers who use social networking services and sites to share their latest purchases, deals, coupons, product reviews, want lists, and other shopping finds. #NAHFA
  3. 3. WHO IS A SOCIAL SHOPPER? Social shoppers are social media users who strongly agree with the statement: “the brands and products my friends use influence my own purchase decisions.” #NAHFA
  4. 4. HOW MANY FRIENDS DO YOU HAVE? The average number of Facebook friends of US Facebook users in 2014, by age group #NAHFA
  5. 5. FRIENDSHIPTRUMPS RESEARCH Researchers from Oxford, Harvard and the University of Limerick found that: Community members randomly copy the choices made by other members in the recent past so that products whose popularity levels have recently grown the fastest are more likely to be selected, whether or not they are most popular overall. #NAHFA
  6. 6. TYPES OF SOCIAL SHOPPERS • Efficiency Sprint Shopper • The Peer Shopper • The In-the-Know Shopper • Impulse Buying Shopper #NAHFA
  7. 7. EFFICIENCY SPRINT SHOPPER • Uses social media to help zero in rapidly on consumer- generated information to make sensible purchases • Looks at top-rated reviews for best results • Relies on group think to make decisions • Uses sites likeYelp or recommendation engines. #NAHFA
  8. 8. THE PEER SHOPPER • Relies heavily on recommendations and tips from friends • Trust their friends more than other sources • Uses Facebook as their primary network for gathering insights #NAHFA
  9. 9. THE IN-THE-KNOW SHOPPER • Cultivates a following based on their insider status • Mentions or tags brands/ products in posts or updates • Craves connections with brands/products • UsesTwitter, check-ins to broadcast purchases, visits #NAHFA
  10. 10. THE IMPULSE BUYING SHOPPER • Suffers from FOMO - fear of missing out on great deals • Uses daily deal sites, searches for coupon codes before buying • Shares deals to friends to receive incentives • Participates in online give- aways, contests and other social promotions #NAHFA
  11. 11. 5 CATEGORIES FOR SOCIAL SHOPPING Group Shopping Sites Sites like Groupon or Living Social that encourage groups of people to buy together at wholesale prices. Shopping Communities Using the wisdom of crowds, users communicate and aggregate information about products, prices, and deals. Many sites allow users to create custom shopping lists and share them with friends. Recommendation Engines sites that provide customers opportunities to write reviews and offer advice to fellow shoppers. Shopping Marketplaces Sites like Polyvore or Etsy that bring sellers and buyers together to connect and transact. The marketplace affords buyers and sellers methods to connect and communicate whilst also performing the role of e-commerce facilitator for sellers and discovery engine for buyers. Shared Shopping Sites that allow shoppers to form ad hoc collaborative shopping groups in which one person can drive an online shopping experience for one or more other people, using real-time communication among themselves and with the retailer. #NAHFA
  12. 12. WHAT SOCIAL SHOPPING LOOKS LIKE Facebook: social shoppers are more likely to have Facebook profiles over all other social networks #NAHFA source: Netbase
  13. 13. WHAT SOCIAL SHOPPING LOOKS LIKE Twitter: 75% of social shoppers haveTwitter profiles #NAHFA source: Netbase
  14. 14. WHAT SOCIAL SHOPPING LOOKS LIKE Instagram: on Instagram, 45% of social shoppers are influenced to purchase a product in at least one category (homewares, cosmetics, etc) #NAHFA source: Netbase
  15. 15. WHAT SOCIAL SHOPPING LOOKS LIKE Pinterest: 52% of social shoppers indicated that they look to Pinterest for product inspiration #NAHFA source: Netbase
  16. 16. WHAT SOCIAL SHOPPING LOOKS LIKE Blogs: Before making a purchase in at least one product category, 64% of social shoppers consult message boards or blogs for inspiration #NAHFA source: Netbase
  17. 17. WHAT SOCIAL SHOPPING LOOKS LIKE Reviews: 75% of social shoppers prefer consumer reviews, over expert reviews, before making their purchases. #NAHFA source: Netbase
  18. 18. HOW GENERATIONS SHOP
  19. 19. WHO ARETHEY? • Millennials: Born between 1985-2000; are currently aged 15-30. • Gen X: Born between 1965-1984; currently aged 31-50 • Boomers: Born between 1946-1964; are currently aged 51-69.
  20. 20. CONSUMER INSIGHTS • PunchTab surveyed 1,143 U.S. consumers in September 2014 to find out what they’re planning when it comes to holiday shopping this year, including when they plan to buy and where (in- store or online).
  21. 21. SOCIAL MEDIA CHANNELS
  22. 22. PURCHASE INFLUENCES
  23. 23. MOBILE INFLUENCE While Not In-Store Boomers Gen X Millennials All Browse for items in online stores 24% 41% 44% 35% Look for coupons or sales 20% 34% 37% 30% Compare prices between different stores or online shopping sites 23% 35% 36% 30% Make my shopping list 21% 30% 40% 30% Research items on brands’ websites 21% 30% 37% 29% While In-Store Boomers Gen X Millennials All Call, text, or email others to get input on an item 28% 42% 45% 38% Take a picture of an item to show others to get input 29% 41% 41% 36% Compare prices for similar items at other stores or online shopping sites 25% 39% 38% 34% Check my shopping list 19% 33% 39% 30% Look for mobile coupons 19% 28% 30% 25% How will you use your smartphone to assist with holiday shopping?
  24. 24. BEST PRACTICES
  25. 25. HOW RETAILERS CAN CONNECT WITH SHOPPERS Marketers can leverage social shopping to drive traffic, sales, and loyalty and become the ultimate influencer. Let’s learn how to: • Show Social Proof • Analyze sharing behaviors • Create a new vocabulary • Integrate online and in-store experiences #NAHFA
  26. 26. SHOW SOCIAL PROOF Convince visitors to take an action by showing the support of hundreds or thousands of “likes” or testimonies from people they may know. #NAHFA
  27. 27. MAKE SHARING EASY • encourage customers to share what’s in their cart after check- out • offer promotional codes to those that share their purchases with friends & family • ask/reward customers to Instagram/Tweet their wares after purchase
  28. 28. ANALYZE SHARING BEHAVIORS • Monitor and measure what items get shared the most from your site • Identify the social sites that drive the most traffic to your site (and lead to conversions) • Listen & respond to online conversations to offer suggestions, tips, promotions #NAHFA
  29. 29. CREATE A NEWVOCABULARY • Learn what words customer are using to describe your products. • Incorporate those words into messaging & social targeted advertising. #NAHFA
  30. 30. INTEGRATE ONLINE & IN-STORE EXPERIENCES • Optimize your store’s wi-fi. Can customers connect easily? • Make check out mobile. Can customers use mobile coupons easily? • Buy Online, Pick Up In Store. Show inventory for local customers. #NAHFA
  31. 31. WHAT IS SHOWROOMING? Showrooming: when customers use a mobile device to compare prices online to in-store prices, and then leave the showroom to buy online. (46% of people in the US showroom) Reverse Showrooming: when consumers go online to research products, but then head to a bricks- and-mortar store to complete their purchase. (69% of people in the US reverse-showroom) #NAHFA source: BI Intelligence source: BI Intelligence
  32. 32. WHATYOU NEEDTO KNOW ABOUT SHOWROOMING Amazon.com remains the No. 1 place where showroomers end up making their purchases, but it's an even more popular destination for reverse showroomers who ultimately buy elsewhere. Location-based technology can engage customers while they are in-store and provide them with personalized offers on the item they are looking at or mobile-only promotions as they walk by a store. Personalized mobile notifications can turn browsers into buyers. 42% of consumers using a mobile device while in-store spend more than $1,000, while only 21% of shoppers without a phone spend as much. #NAHFA source: Interactive Advertising Bureau source: BI Intelligence
  33. 33. QUESTIONS? marisa@strategicpeacock.com www.strategicpeacock.com @marisacp51 THANKYOU!

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