Social Commerce - What Are We Waiting For?
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An overview and evaluation of social commerce categories and initiatives around the world. http://www.noop.nl http://www.jurgenappelo.com
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Social Commerce - What Are We Waiting For?
- 1. Social Commerce… What Are We Waiting For JurgenAppelo version 3
- 3. The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010) http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
- 4. The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010) 1. The Audience Is In Control http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
- 5. The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010) The Audience Is In Control1. Social Media Is Not Free Publicity2. http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
- 6. The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010) 1. The Audience Is In Control 2. Social Media Is Not Free Publicity 3. Social Gaming http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
- 7. The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010) The Audience Is In Control1. Social Media Is Not Free Publicity2. Social Gaming3. ROI Measurement4. http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
- 8. The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010) The Audience Is In Control1. Social Media Is Not Free Publicity2. Social Gaming3. ROI Measurement4. Integrating, Mixing & Sharing5. http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
- 9. The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010) 1. The Audience Is In Control 2. Social Media Is Not Free Publicity 3. Social Gaming 4. ROI Measurement 5. Integrating, Mixing & Sharing 6. Mobile & Location Based Content http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
- 10. The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010) 1. The Audience Is In Control 2. Social Media Is Not Free Publicity 3. Social Gaming 4. ROI Measurement 5. Integrating, Mixing & Sharing 6. Mobile & Location Based Content 7. Social Commerce http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
- 11. Social Commerce… a trend? When? http://www.google.com/trends?q=e-commerce,+e-business,+social+commerce
- 13. Social Commerce… a definition “A subset of electronic commerce that involves using social media, online media that supports social interaction and user contributions, to assist in the online buying and selling of products and services.” http://socialcommercetoday.com/social-commerce-definition-word-cloud-definitive-definition-list/
- 14. Ratings & Reviews Sharing & Referring Social Media Marketing Social Shopping Forums & Communities Social Applications Conclusions Agenda
- 16. Why do we trust what other buyers recommend?
- 17. Why should we trust the reviews at point-of-sale or in a brochure?
- 18. traditional approach: the brand controls the reviews not really social, no trust
- 19. Can we trust independent product directories?
- 20. Should we trust independent search?
- 21. Maybe we can trust experts and authorities?
- 23. word-of-mouth, but who can we trust?
- 24. Social proof: Put your money where your mouth is
- 25. trust + social proof = $$$ Ratings & Reviews http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
- 26. trust + social proof = $$$ boosts traffic volume and order value (up to 25%) Ratings & Reviews http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
- 27. trust + social proof = $$$ boosts traffic volume and order value (up to 25%) negative reviews have little or no effect on sales Ratings & Reviews http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
- 28. Ratings & Reviews Sharing & Referring Social Media Marketing Social Shopping Forums & Communities Social Applications Conclusions Agenda
- 30. Social network sharing: word-of-mouth for friends
- 31. This has led to an answer to… What do my friends think of this product?
- 32. And also an answer to… What are my friends buying?
- 33. And it also led to... Influencer marketing
- 34. A small detour… social network theory
- 35. focus on the right people
- 36. “gatekeepers” know the right people
- 37. “pulsetakers” know the most people who know the right people
- 38. “hubs” know the most people
- 39. End of detour… social network theory influencer marketing is not spamming the hubs it’s working through the right people (and let the network do the rest)
- 40. Sharing & Referring http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ endorsements by friends: double conversion rates
- 41. Sharing & Referring http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ endorsements by friends: double conversion rates shifting ethics: people are sharing more and more
- 42. Sharing & Referring http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ endorsements by friends: double conversion rates shifting ethics: people are sharing more and more requires strategies for influencing the right people
- 43. Ratings & Reviews Sharing & Referring Social Media Marketing Social Shopping Forums & Communities Social Applications Conclusions Agenda
- 45. Broadcast promotional content, to the right people
- 46. Broadcast exclusive deals, to the right people
- 47. But that is all still about broadcasting…
- 48. Organize social media events and contests…
- 50. Involving consumers means engagement
- 51. Social Media Marketing http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ engagement replaces broadcasting
- 52. Social Media Marketing http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ engagement replaces broadcasting up to 500% sales increase
- 53. Social Media Marketing http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ engagement replaces broadcasting up to 500% sales increase big opportunities for location-based services
- 54. Ratings & Reviews Sharing & Referring Social Media Marketing Social Shopping Forums & Communities Social Applications Conclusions Agenda
- 55. Social Shopping
- 56. Synchronous shopping… “just like in real life”
- 57. Group buying… “get a better deal”
- 58. For shop-a-holics… “fun shopping”
- 59. adding value between networks and vendors
- 60. Factory outlets… “remove the middle man”
- 61. Social storefronts… “put the shop in the street”
- 62. Garage sales… “shopping among friends”
- 63. Social Shopping http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ specialist networks moving in to add value
- 64. Social Shopping http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ specialist networks moving in to add value producers and consumers getting closer
- 65. Social Shopping http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ specialist networks moving in to add value producers and consumers getting closer reports of up to +50% in average order value
- 66. Ratings & Reviews Sharing & Referring Social Media Marketing Social Shopping Forums & Communities Social Applications Conclusions Agenda
- 76. Forums & Communities http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ requires trust between consumers and brand
- 77. Forums & Communities http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ requires trust between consumers and brand strengthens trust between consumers and brand
- 78. Forums & Communities http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ requires trust between consumers and brand strengthens trust between consumers and brand reported to be 4x as effective as TV ads
- 79. Ratings & Reviews Sharing & Referring Social Media Marketing Social Shopping Forums & Communities Social Applications Conclusions Agenda
- 81. M-Commerce: move shops from web to mobile…
- 82. Add on-line features to off-line products…
- 83. Offer added value for existing customers…
- 84. Tap into new social credit systems…
- 85. Social Applications http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ apps move from web to mobile (M-commerce)
- 86. Social Applications http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ apps move from web to mobile (M-commerce) apps move from web to social (F-commerce)
- 87. Social Applications http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ apps move from web to mobile (M-commerce) apps move from web to social (F-commerce) new social credit systems emerging
- 88. Ratings & Reviews Sharing & Referring Social Media Marketing Social Shopping Forums & Communities Social Applications Conclusions Agenda
- 89. Conclusions
- 90. increased demand volatility Focal Intent
- 92. matching business structure with dynamic environment jared
- 94. So, is Social Commerce… a trend
- 95. Social Commerce is… a transformation “Just as e-commerce transformed retail, social media transforms e-commerce by changing people’s expectations.” Mitch Joel - April 21, 2010 - Social Commerce Summit http://socialcommercesummit.com/
- 96. 7 Important Questions… 1. What is our strategy for targeting the right people? 2. How do we build trust in our brand? 3. How do we develop social proof? 4. Are we engaging instead of just broadcasting? 5. What can we do locally instead of globally? 6. Can social media disrupt our supply chain? 7. Are our consumer apps where our consumers are?
- 97. the end
- 98. @jurgenappelo (twitter) slideshare.net/jurgenappelo jurgenappelo.com (site) noop.nl (blog) management30.com (book)
- 99. Sources The 6 Dimensions of Social Commerce: Rated and Reviewed http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/ Simple Definition of Social Commerce http://socialcommercetoday.com/social-commerce-definition-word-cloud-definitive-definition-list/ 7 Solid Social Media Marketing Trends http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/ Speed Summary / Mitch Joel on Social Media @ Social Commerce Summit http://socialcommercetoday.com/speed-summary-mitch-joel-on-social-media-social-commerce-summit/ Five Reasons why Supply Chain Leaders need to know More about Social Commerce http://www.supplychainshaman.com/2010/03/five-reasons-why-supply-chain-leaders-need-to-know-about- social-commerce/ Amazon: You Need to Change Your Idiotic Customer Review Policy Right Now http://techcrunch.com/2010/03/22/im-not-kidding-do-it-now/ Amazon readers’ reviews, and professional critics http://www.amandacraig.com/pages/blog_01/blog_item.asp?Blog_01ID=229 One’s Thoughts of Epinions.com http://www.associatedcontent.com/article/1941586/ones_thoughts_of_epinionscom.html
- 100. Sources Announcing the Google Product Reviews Program http://googlemerchantblog.blogspot.com/2010/04/announcing-google-product-reviews.html Review of Google Product Search http://google.about.com/od/googlereviews/gr/productSearchRe.htm Bing Now Lets You Shop With Your Friends http://thenextweb.com/microsoft/2010/05/07/bing-now-lets-you-shop-with-your-friends/ SponsoredReviews.com Review http://www.bukisa.com/articles/254781_sponsoredreviewscom-review-my-experience-with-this-blog-review- service Amazon.com Recommendations: Item-to-Item Collaborative Filtering (PDF) http://agents.csie.ntu.edu.tw/~yjhsu/courses/u2010/papers/Amazon%20Recommendations.pdf How Levi’s and Facebook Prompt Your Friends To Improve Your Buying Experience http://www.web-strategist.com/blog/2010/04/30/social-commerce-breakdown-how-levis-and-facebook- prompt-your-friends-to-get-you-to-buy/ Review: Blippy (“What are your friends buying?”) http://paulstamatiou.com/review-blippy-what-are-your-friends-buying YouTube Brand Channels – The Missing Link http://www.reelseo.com/youtube-brand-channels/
- 101. Sources Facebook Fronts on Foursquare, Drinks McDonald’s Milkshake http://www.fastcompany.com/1640354/facebook-foursquare-location-security-personal-data-leak-check-in- mcdonalds A TechCrunch Teardown: What Makes Groupon Tick http://techcrunch.com/2010/05/02/teardown-groupon/ The Lure of Freebies: Try Some Tryvertising http://blogs.bnet.com/customer-service/?p=951 Building online brands: the influence sphere of brand communities http://www.socialemailmarketing.eu/2010/05/social-media-marketing-online-brands-and-the-influence- sphere-of-brand-communities.html Marketing to the Ubiquitous Cellphone http://www.ecommercetimes.com/story/69399.html?wlc=1273916377 How Nike’s Social Network Sells to Runners http://www.businessweek.com/magazine/content/08_46/b4108074443945.htm Starbucks f-commerce + m-commerce = New Gold Standard http://socialcommercetoday.com/starbucks-f-commerce-m-commerce-new-gold-standard/ Facebook’s Credits Bank of the Web http://blogs.ft.com/techblog/2010/04/facebook’s-credits-bank-of-the-web/
- 102. Sources 5 Ways Facebook’s Open Graph Will Impact E-commerce http://mashable.com/2010/05/07/facebook-open-graph-ecommerce/ Trends: Master Data Management 2010 – Focus on Outcomes Drives Push for Value http://blog.softwareinsider.org/2009/10/26/trends-master-data-management-2010-focus-on-outcomes- drives-push-for-value/ Trend: When Digital Displays Fuel Social Commerce http://www.web-strategist.com/blog/2010/05/08/trend-when-digital-displays-become-social/ Pepsi rolls out multifaceted LBS mobile loyalty initiatives http://www.mobilecommercedaily.com/pepsi-rolls-out-multifaceted-lbs-mobile-loyalty-initiatives/ Speed Summary / Google on Social Commerce – Social Commerce Summit http://socialcommercetoday.com/speed-summary-google-on-social-commerce-social-commerce-summit/ On Trust and Culture (Social Network Theory) http://globalleadershipnetwork.com/Articles/trust-and-culture.htm Procter & Gamble’s new e-store markets directly to consumers http://econsultancy.com/blog/5941-proctor-gamble-markets-directly-to-consumers-with-new-e-store
- 103. m30.me/happiness
- 105. http://creativecommons.org/licenses/by-nd/3.0/ This presentation was inspired by the works of many people, and I cannot possibly list them all. Though I did my very best to attribute all authors of texts and images, and to recognize any copyrights, if you think that anything in this presentation should be changed, added or removed, please contact me at jurgen@noop.nl.
Editor's Notes
- “ Instead, most of the reviewers’ ire relates to the fact that publishers WW Norton have decided not to release a Kindle version of the book at the same time as its hardback release .” http://techcrunch.com/2010/03/22/im-not-kidding-do-it-now/ “ Usually, an amazon review it isn't what you would call a critical review. Unless absolutely maddened by an inflated price (not the author's fault) or hype (not the author's fault) terrible or misleading jacket design (not the author's fault) readers, unlike critics, usually just don't bother. They simply stop reading. Yet occasionally, readers also leave reviews in which they take issue with something – as they are perfectly entitled to do. ” http://www.amandacraig.com/pages/blog_01/blog_item.asp?Blog_01ID=229
- Customer Testimonials: Customer stories typically published to an e-commerce site, allowing comments and discussion. Point-of-Sale Reviews: Customer testimonials published in the store, or in brochures. But… value of testimonials declines when all of them are positive.
- “ There is a lot of 'You scratch my back, I’ll scratch yours,' and mutual admiration societies. You recommend me and mine, I’ll do the same for you.” http://en.wikipedia.org/wiki/Epinions “ It seems that quite a number of people are disenchanted with this website. You can't even leave an evaluation of a product that you actually used without it being peppered with comments left mainly by advisors and if you go and evaluate their stuff low they will follow you and continue to cyber-harass you with low end evaluations of what you posted. ” http://www.associatedcontent.com/article/1941586/ones_thoughts_of_epinionscom.html
- “ Through the program, we will begin featuring full-length product reviews and user ratings from participating retailers and manufacturers wherever it will help users with their shopping, including in our search results and advertising programs.” http://googlemerchantblog.blogspot.com/2010/04/announcing-google-product-reviews.html “ Google Product Search provides quick, unbiased results because they do not charge vendors for inclusion. ” http://google.about.com/od/googlereviews/gr/productSearchRe.htm “ Bing has added social shopping to their search results, including Twitter and Facebook integration. ” http://thenextweb.com/microsoft/2010/05/07/bing-now-lets-you-shop-with-your-friends/
- The view from the independent voice of authority, professional or prosumers, either integrated into an e-commerce product page, a social network page, a product reviews site, an online magazine and/or in news feed.
- Sponsored reviews : Paid for reviews, either customers or experts on social media platforms. http://www.bukisa.com/articles/254781_sponsoredreviewscom-review-my-experience-with-this-blog-review-service
- Too much information available. Filtering needed by categories, search, experts, etc...
- Social Recommendations : Personal shopping recommendations based on profile similarities to other customers. “ The click-through and conversion rates — two important measures of Web-based and email advertising effectiveness — vastly exceed those of untargeted content such as banner advertisements and top-seller lists. [...] Our item-to-item collaborative filtering algorithm produces recommendations in realtime, scales to massive data sets, and generates high quality recommendations. ” http://agents.csie.ntu.edu.tw/~yjhsu/courses/u2010/papers/Amazon%20Recommendations.pdf
- Work primarily through the ‘ social proof ‘ and ‘ authority ‘ SI heuristics, promoting purchase decisions with credible information.
- Work primarily through the ‘ social proof ‘ and ‘ authority ‘ SI heuristics, promoting purchase decisions with credible information.
- Work primarily through the ‘ social proof ‘ and ‘ authority ‘ SI heuristics, promoting purchase decisions with credible information.
- Delicious, Digg, StumbleUpon, and then of course… Twitter and Facebook Share With Your Network: (social bookmarking) Recommended products, deals and tips are bookmarked and syndicated to friends, fans and followers.
- “ In the future, the difference between social networks and corporate websites will be hard to distinguish. ” http://www.web-strategist.com/blog/2010/04/30/social-commerce-breakdown-how-levis-and-facebook-prompt-your-friends-to-get-you-to-buy/ “ Many brands are jumping on the social media bandwagon, without giving proper thought about the impacts to their marketing effort. In particular, many brands are putting ’social chicklets’ on their homepage to “Follow us on Twitter” or “Friend us on Facebook” without considering the ramifications. ” http://www.web-strategist.com/blog/2010/03/28/matrix-evolution-of-integration-of-social-media-and-corporate-websites/
- “ At first glance many will be shocked and wonder why they would ever want to use such a service but that only brings up memories of people saying the same thing about Twitter just a few years ago. ” http://paulstamatiou.com/review-blippy-what-are-your-friends-buying
- http://globalleadershipnetwork.com/Articles/trust-and-culture.htm
- http://globalleadershipnetwork.com/Articles/trust-and-culture.htm
- http://globalleadershipnetwork.com/Articles/trust-and-culture.htm
- http://globalleadershipnetwork.com/Articles/trust-and-culture.htm
- Referrals are personalized endorsements designed to realize the referral value of customers and advocates.
- Referrals are personalized endorsements designed to realize the referral value of customers and advocates.
- Referrals are personalized endorsements designed to realize the referral value of customers and advocates.
- Media Sharing : Publishing advertising and promotional content to popular social media platforms such as YouTube, Flickr and Slideshare, and informational content to Wikipedia. “ Brand advertisers should learn to “think distributed” (be wherever the audience is) rather than “think traffic” (create traffic towards your own site). […] Imagine in-video ads appearing in the third-quartile or companion ads on YouTube’s watchpage. Such positions can then be bought centrally via the brand channel owner (YouTube then becomes a trade marketing tool), or decentrally through AdWords (a tightly controlled auction). ” http://www.reelseo.com/youtube-brand-channels/
- News Feeds : offering syndicated news on Twitter, Facebook, Blogs (RSS) and other social media platforms, providing a resource for exclusive information and (often) special deals.
- Social Media Events : Running media events in social media space such as webinars, press briefings, contests, screenings, and shows.
- “ What could the future hold? Expect stores to ask you to “Connect using Facebook Connect” to your mobile device as you step in the store. By doing so, you can receive customized recommendations on your phone and on digital displays. Expect that your friends that have been here, will digitally indicate which clothes are right for you. Expect digital displays to recommend what’s best for you based on what your friends ‘like’ (see how Levi’s is doing it on the web) then spread to in store.” http://www.web-strategist.com/blog/2010/05/08/trend-when-digital-displays-become-social/ “ Consumers on-the-go always have mobile devices with them, and when they are hungry, they can open Pepsi Loot on their iPhone and it shows them every Pepsi location in a certain area. The app tells them what type of food each restaurant serves, and they can share details on Twitter and Facebook. App users can earn loyalty points by walking in and hitting ‘check in,’ and it’s geotargeted, so the app recognizes that they’re in the specific location and you earn loyalty points. ” http://www.mobilecommercedaily.com/pepsi-rolls-out-multifaceted-lbs-mobile-loyalty-initiatives/ “ Rumors are swirling that Facebook is finally going to be getting into the location information arena, adding in the ability for users to geotag their status updates--possibly this month. ” http://www.fastcompany.com/1640354/facebook-foursquare-location-security-personal-data-leak-check-in-mcdonalds
- Co-Browsing : Enabling people to shop together on an e-commerce site at the same time (synchronous shopping) with synchronized page views and integrated cha t. Ask-Your-Network : Feature embedded into product pages enabling people to get real-time advice and recommendations from their own trusted social circle by posting questions directly to their news feeds .
- “ No other startup has gone more quickly from launch to $1 billion+ in valuation except YouTube (12 months). […] The trick is that the deal is only “triggered” once enough people buy in. This creates the incentive to share the deal with friends and family, until “the deal is on.” http://techcrunch.com/2010/05/02/teardown-groupon/
- Social Shopping Portals : Enable people to shop multiple stores together using social shopping tools, often combined with ratings and reviews, and recommendations and referrals .
- http://econsultancy.com/blog/5941-proctor-gamble-markets-directly-to-consumers-with-new-e-store
- Social Network Storefronts : Enable people to buy where they connect within the walled gardens of a social network and solicit opinions and recommendation from their online social circle .
- Brand Communities : Private communities of customers/partners, usually with a loyalty or advisory purpose. “ On social media, brands often get a different “identity”, almost a life of their own. Besides the original brand, as people know it, an online brand emerges.” http://www.socialemailmarketing.eu/2010/05/social-media-marketing-online-brands-and-the-influence-sphere-of-brand-communities.html
- User Galleries : People sharing and discussing video and image content with each other and with the gallery host, around a particular theme.
- Idea Boards : Online suggestion boards for constructive feedback, often with voting and commenting features. Lego’s use of educational communities to package the right products for in-school learning for each geography.
- Q&A Forums : New-style FAQs harnessing user contributions to answer common questions in a structured format (e.g. Bazaarvoice ‘Ask & Answer’, PowerReviews AnswerBox).
- User Forums : People offering each other support and solving each others’ task or product problems – members typically customers and/or partner.
- Best Buy created a “Twelpforce” of 2,5000 store associates to answer shoppers’ questions via Twitter.
- “ There were 56.9 million mobile Web users in July 2009, Nielsen recently reported, and that number keeps growing. Given the depth and breadth of mobile Web usage, it seems prudent for most brands to have a mobile Web site to better and more directly reach customers. Imagine if every print or TV ad for Target had a mobile call-to-action that drove subscribers to the brand's optimized mobile site, where they could review products and shop for the best deals. ” http://www.ecommercetimes.com/story/69399.html?wlc=1273916377
- Social Apps : creating branded online applications that support social interaction and user contribution. “ In the two years since it launched Nike+, a technology that tracks data of every run and connects runners around the world at a Web site, nikeplus.com, Nike has built a legion of fans. Some analysts back up Nike's claims that the site is renewing the popularity of its running shoes. SportsOneSource, a Princeton (N.J.) market research firm, says Nike accounted for 48% of all running-shoe sales in the U.S in 2006. Today, its share is 61%. "A significant amount of the growth comes from Nike+," says Matt Powell, a SportsOneSource analyst. Winters, 28, who had already run a half-marathon, credits Nike+ with boosting her enthusiasm for running and for Nike, too. On nikeplus.com, she's part of a group of 90 runners who challenge each other to go faster and farther.” http://www.businessweek.com/magazine/content/08_46/b4108074443945.htm
- “ Users can reload their (virtual) Starbucks mobile card with a payment card in order to pay for drinks with their cell phone – or load cash onto the Starbucks plastic payment card. Users will also be able to surprise their Facebook friends by reloading their cards.” http://socialcommercetoday.com/starbucks-f-commerce-m-commerce-new-gold-standard/
- “ The Facebook founder’s reasoning for Credits is that users want a common system for paying within applications that gets around them having to get their credit cards authorised separately for every paying application they use. A single currency gets around this, reduces the friction for people making payments and helps publishers.” “ I think that’s going to be the key to their business model. They keep underplaying it so much that I’ve gotta believe that the direction there inside is: ‘Here’s how we’re going to take over credits on the internet.’” http://blogs.ft.com/techblog/2010/04/facebook’s-credits-bank-of-the-web/
- “ The demand from these programs is more erratic and demand volatility is higher than conventional promotions. For example, Kraft Foods experienced over 100X the sales through their picnic ad last Memorial Day. As a result, companies activating promotions through social commerce need to re-design their supply networks for greater resiliency, and build a more agile response expecting higher demand volatility.” http://www.supplychainshaman.com/2010/03/five-reasons-why-supply-chain-leaders-need-to-know-about-social-commerce/
- “ With the introduction of e-Commerce, the goal was clear. The race was on to deliver a seamless cross-channel experience. Social commerce ups the ante. Take Best Buy as an example. 90% of Best Buy’s customers start their shopping experience on-line on Best Buy’s website. The more advanced social commerce user will search online, read the reviews, and take a trip to the store to check out the physical experience. But, then, like my savvy stepson, they pull out their iPhone and place the order in the store. They avoid the lines and the check-out hassle, and they snag even more loyalty points by ordering on-line. In the last six months, customers have downloaded 700 thousand Best Buy iPhone applications. Social Commerce and eCommerce is converging.” http://www.supplychainshaman.com/2010/03/five-reasons-why-supply-chain-leaders-need-to-know-about-social-commerce/
- “ The Big Idea : Successful social commerce means a) thinking cross-channel – people will interact with any channel they want when they want, and b) matching internal structures to match shoppers cohesive multi-channel market reality (no artificial online/traditional e-commerce silos).” http://socialcommercetoday.com/speed-summary-google-on-social-commerce-social-commerce-summit/
- “ Organizations now need to understand their advocates and detractors. Today’s social and connected world requires more targeted marketing, sales, and service/support programs. ” http://blog.softwareinsider.org/2009/10/26/trends-master-data-management-2010-focus-on-outcomes-drives-push-for-value/