Social Media power on Shoppers' decision journey


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A view of how Social Media substantially influence shoppers in their purchase decision journey

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Social Media power on Shoppers' decision journey

  1. 1. The power of social media on Shoppers‘ purchase decision journey Trieu Nguyen CEO / YouNet Media Nov 2013
  2. 2. What is social media? “…Social Media is where users can create, share contents and interact with others…” 2
  3. 3. What is social media? 3
  4. 4. Top global social platforms at size 4
  5. 5. Top global social platforms at size 5
  6. 6. Facebook – the 2nd society “… despite the skepticism about Facebook... we just can’t ignore a billion users there…” Colin Sebastien (Robert W. Baird) on CNBC 6
  7. 7. Vietnam Internet Users Almost 32 million users 7
  8. 8. Vietnam Facebook Users of Internet users 1 million new users every month (2013) 8
  9. 9. Asia & Vietnam Facebook Growth (%) Facebook Vietnam grows fastest 9
  10. 10. Facebook is certainly #1 social network Users Reach Estimation (%) Source: Comscore (Mar 2013) 10
  11. 11. Vietnam & Thailand users are most active Source: Comscore (Mar 2013) 11
  12. 12. Time spent on social networking sites Source: Comscore (Mar 2013) 12
  13. 13. Vietnam: Communities are still popular …Still popular places for reviews & conversations 13
  14. 14. Voice of online consumers ~ 500,000 Vietnamese public fan PAGES ~ 300,000 ~800,000 Groups & Pages posts PER DAY Vietnamese open GROUPS 20,000,000 Vietnamese user profiles 26% ~ 10,000,000 Users public posts PER DAY Of online conversations relate to products or services (global) Source: YouNet Media’s Social Monitoring, Nielsen 14
  15. 15. Voice of online consumers Tracking of Vietnam SmartPhone Industry (Monthly) Source: YouNet Media’s Social Monitoring 15
  16. 16. Voice of online consumers Consumers are talking about our products… Commenting Reviewing 16
  17. 17. How to win shoppers? Marketing #1 goal: Reach consumers at the moments that most influence their purchase decision! 17
  18. 18. The traditional shopping funel Source: McKinsey 18
  19. 19. Smarter shoppers’ new decision journey (2) add/subtract new brands while evaluating (3) Utimately choose a brand at shop (1) Initial Set (4) Build expectation based on experience to inform the next decision journey Source: McKinsey 19
  20. 20. Zero Moment Of Truth Online search, review… become essential part in shoppers’ decision process. Winning the shoppers are Zero Moment of True Source: Google Macro Consumers Research 2012 20
  21. 21. Zero Moment Of Truth v 50% of consumers used a search engine to find out information v 49% of consumers talked with friends/family about the product v 36% of consumers sought information for a product brand/ manufacturer Website v 31% of consumers read product reviews or endorsements online v 22% of consumers sought information from a retailer/store Website v 22% of consumers read comments following an article/opinion piece online v 18% of consumers became a friend, follower, “liked” a brand Source: Google Macro Consumers Research 2012 21
  22. 22. Touch point 1 – Initial set of brands ü  Brand Awareness & Top-of-mind matters ü  Brands included in this phase has 3 times higher chance to be purchased ü  But, shoppers usually add 1-2 more brands during phase 2 (Active Evaluation) Source: McKinsey 22
  23. 23. Facebook is the cheapest channel Cost Per 1000 Impressions TVC >50+$ BANNER ADS FACEBOOK ADS 0.3$ 0.1$ Source: KantarMedia | Admicro 23
  24. 24. Touch point 2 - Active Evaluation ü  Beside “At-store interaction”, consumer-driven marketing is the key of success ü  Company-driven marketing doesn’t decide in final purchase Source: McKinsey 24
  25. 25. Build your online presence to win SHOPPER (1)  Search for official product information (2)  Read online reviews and comments BRAND (1)  Company Website (2)  Products & Brands sites & product showcase videos on Youtube,… (3)  Build detailed reviews & rating on popular review (3)  Talk to friends on social sites networks (4)  Listen, analyze & engage to consumers’ conversation (4)  Become fans, “liked” a brand to online follow latest products update (5)  Build touch points on Social Media (Fanpage,…) to update (5)  Comment/feedback about & do social customer service, products & services build loyal fans. 25
  26. 26. Good is not enough, Better matters Understand your potential Consumers and perform better than your Competitors is the key to win. q  Actively & passively listen to consumers’ conversations on all channels to get their insights: ü  Where are your target customers being talking about? ü  How much they care and how do they like our products? ü  Do they like us or our competitors more? ü  What are “positive” (and “negative”) driving factors? ü  What are trending topics relevant to our brand & industry? q  Tracking competitors and industry to ensure you will do better: ü  Who is winning in term of consumers share of voices? ü  Who wins consumers’ minds, in what aspects? ü  Where are competitors doing? ü  And much more…. 26
  27. 27. Social CRM - STRATEGY & MODEL Fans acquisition 27
  28. 28. Social Customer Care – Learning US top social customer care quality (using Twitter & Facebook) Source: SocialBakers 28
  29. 29. Final thought 1.  Build your Social Media presence for winning shoppers’ right touch points 2.  Synchronize your Offline & Online/SOCIAL Marketing Strategy 3.  Listen to consumers to gain insights, trends and improve your customers post-purchase experience 4.  Build your Social CRM, innovate and become a Social Enterprise “Do not forget 20-million customers in FB Win them, or your competitors will!” 29
  30. 30. 0913-674-095