How to Capitalize on Social Media's Impact on Consumer Purchasing
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The document discusses how social media is changing consumer purchasing behavior and provides recommendations for businesses to capitalize on this. It notes that customers now research products across multiple sources and engage in many conversations during the purchasing process. It recommends that businesses drive social behaviors on their websites by creating communities where purchasing decisions can happen organically. Specific tips include incorporating communities directly on the site, organizing discussions around products, asking questions to stimulate interactions, and getting people to talk to increase traffic and sales.
![January 8, 2012 Affiliate Summit West Oliver Roup Founder / CEO [email_address] +1 (415) 287-9942 Increasing Website Revenue by Driving Social Behaviors How Social Media is Reshaping the Way Consumers Buy -- and How to Capitalize on it](https://image.slidesharecdn.com/affiliate-summit-final-120109163756-phpapp01/85/Increasing-Website-Revenue-by-Driving-Social-Behaviors-1-320.jpg)
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How to Capitalize on Social Media's Impact on Consumer Purchasing
- 1. January 8, 2012 Affiliate Summit West Oliver Roup Founder / CEO [email_address] +1 (415) 287-9942 Increasing Website Revenue by Driving Social Behaviors How Social Media is Reshaping the Way Consumers Buy -- and How to Capitalize on it
- 2. © VigLink All Rights Reserved. Then | Search & Buy Social Media is Changing Consumer Purchasing 1. Search for product 2. Select merchant 3. Select product and buy
- 4. Paid search and other traditional ways to acquire traffic and new customers remain a critical component of our marketing strategy, but we’re finding that these traditional avenues no longer provide a clear purchase funnel. Customers come and go at different points, engaging in multiple conversations throughout the process. The shift requires us to invest in a lot of different pots. Social media is an area that allows us to obtain customers that market on our behalf (i.e. who is going to talk about us? who is going to recommend us?). © VigLink All Rights Reserved. Cynthia Thomas Sr. Director of Online Acquisition & Partner Marketing Social Media is Changing Consumer Purchasing
- 5. © VigLink All Rights Reserved. Now | Broad Exploration Social Media is Changing Consumer Purchasing 1. Search for info 2. Seek guidance 3. Select product 4. Find merchant and buy
- 6. © VigLink All Rights Reserved. The Question
- 7. © VigLink All Rights Reserved. One Answer drive social behaviors create a space where purchasing decisions are made build a community Enhance what you are already doing with social behavior.
- 12. One Example of What the Community Looks Like © VigLink All Rights Reserved.
- 13. One Example of What the Community Looks Like © VigLink All Rights Reserved.
- 14. © VigLink All Rights Reserved. More Shares These shares will drive a new kind of buyer to your site, one you can’t capture via search engines.
- 15. More Traffic © VigLink All Rights Reserved. The overall result will be more traffic -- and entirely new traffic sources.
- 16. More Interaction © VigLink All Rights Reserved. Readers that interact on your site return more frequently, and bring others with them.
- 19. © VigLink All Rights Reserved. how to drive social behaviors
- 20. Create a Foundation for Interaction © VigLink All Rights Reserved. Incorporate your community within your main site.
- 21. Create a Foundation for Interaction © VigLink All Rights Reserved. Organize your community in a way that encourages, but doesn’t force, product discussions.
- 22. © VigLink All Rights Reserved. Create a Foundation for Interaction Don’t introduce advertising that makes it difficult to access the community.
- 23. © VigLink All Rights Reserved. Stimulate Traffic to the Community
- 24. © VigLink All Rights Reserved. Stimulate Traffic to the Community Use a forum in lieu of comments.
- 25. Stimulate Interaction © VigLink All Rights Reserved. Ask questions.
- 26. Stimulate Interaction © VigLink All Rights Reserved. Get people talking.
- 27. The End Result © VigLink All Rights Reserved. more traffic = more ad revenue
- 28. The End Result © VigLink All Rights Reserved. more interaction = more sales
Editor's Notes
- Before it was a relatively simple path to user acquisition. Consumers relied on search engines for merchant options, and merchants for product options. on “select merchant” -- emphasize that they are making a product decision ON the merchants’ site (compare against today where now they are making the product decision on a forum or blog).
- one key takeaway: stat nearly doubled in one year. something on screen that speaks to VigLink data set...
- voice over: we are hearing this across the board from MANY merchants.
- voice over: don’t change what you are already doing. if it works, keep doing it. this doesn’t affect that.
- voice over: there are a lot of ways to do this successful, but let’s walk through one particular example. (this is a forum, but note that the community doesn’t necessarily have to take the shape of a forum)
- voice over: every single one of these visitors is exposed to your brand. these are exactly the people watchuseek is looking to acquire as customers, and it’s very possible most aren’t current customers yet.
- voice over: a lot of affiliate marketers don’t have repeat traffic or organic traffic. this is a big deal.
- this forum only features ads above the fold, it’s extremely difficult to get to the content.
- voice over: we aren’t suggesting that they add a commenting system to areas of their site that don’t feature comments (e.g. landing pages optimized for conversions). However, if their site includes editorial content with commenting functionality, consider diverting those comments to your community
- voice over: more sales and commissions (that wouldn’t have been possible without the community)