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Social Media @ Wal-Mart – Social Gifting Facebook Application Shopycat Case Study

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Social Media @ Wal-Mart – Social Gifting Facebook Application Shopycat Case Study

  1. 1. Analysis & Outlook Social Media @ Wal-Mart – Social Gifting Facebook Application Shopycat Case StudyWal-Mart has a very active Facebook page where it has close to 23 million likes, close to millionvisitors to the page and according to a statement from Facebook founder Mark Zuckerberg, heand his top management team travelled to Bentonville, Arkansas to "deepen" its relationship withWal-Mart.The relationship between Facebook/Wal-Mart is very lucrative for both partiesconsidering the fact that Facebook has one billion monthly users.@WalmartLabs is developingtools and technologies that will help Wal-Mart analyze the relevant information hidden in thehundreds of millions of social media conversations occurring online every day and throughmapping social DNA of social networks users and sort through posts, updates, likes, commentslooking to target products based on the genome. WalmartLabs defines the "Social Genome" as "agiant knowledge base that captures entities and relationships of the social world.In November, 2011, WalmartLabs launched an application for Facebook called Shopycat, whichcurrently has close to 20,000 likes or roughly one-hundredth of one percent of Wal-MartsFacebook likes. WalmartLabs says the Shopycat app "makes gift giving less stressful and morefun "by analyzing their Facebook activity through likes, shares and posts using our SocialGenome technology."Shopycat tries to figure out from a person’s Facebook profile what they’remost interested in, but also then has to find that product and match it to a link online. Shopycat isthe first social shopping application from Wal-Mart’s recently-formed @WalmartLabs unitwhich is focused on developing platforms, products and businesses around social and mobilecommerce. Along with products from Walmart.com and Wal-Mart, Shopycat matches usersinterests to a catalog that includes other sites like bookseller Barnes & Noble and gifts storeRedEnvelope.According to Ifeelgoods.com Wal-Mart case study where they studied customer acquisition byWal-Mart through its Facebook social gifting application called Shopycat. Ifeelgoods workedwith @WalmartLabs to build the user base for Shopycat. In the initial month-long campaign,Ifeelgoods hosted a seamless user experience that gave 10 Facebook credits to users that allowedthe Shopycat application and for preventing fraud credits were direct deposited into eligibleusers’ Facebook accounts.As an added service, Ifeelgoods assisted with driving targeted traffic tothe promotion by displaying ads via the Ifeelgoods publisher network, ultimately managingcampaign performance for @WalmartLabs. There was a good 42% conversion rate for usersallowing Shopycat and a 27% redemption rate on the credits offer, which highlight campaignsuccess. 50% of users shared the Shopycat promotion with their friends, and that viral earnedmedia traffic flow generated an incremental lift in conversions of 25%. The cost per new userwas far less than campaign targets, and the users directed to Shopycat from the Ifeelgoodscampaign stayed with the app, making up approximately 90% of the Shopycat userbase.Shopycat application success has encouraged Wal-Mart to focus more on becoming socialmedia retail mega player.Rajesh Prabhakar Analyst Bio @ http://socialmediacases.blogspot.com/

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