social commerce landscape smw ebay
Post on 17-Oct-2014
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Social Commerce Landscape
Brian SmithUS Director
Useful Social Media@BSmithUSM
Huh?
What role does social commerce play in your organization?
What’s social commerce?
What role does social commerce play in your organization?
Some said NOTHING
• “The worst thing someone can say about your brand on social media is NOTHING” – Tom Hoehn, Director of Digital Media, Formerly of Kodak
What role does social commerce play in your organization?
DR. PAUL MARSDEN, EDITOR IN CHIEF OF SOCIAL COMMERCE TODAY The use of social technology in the context of commerce. Selling
with social media.
SUDHA JAMTHE, SOCIAL MEDIA SPECIALIST, SOCIAL COMMERCE AT EBAY: Facilitating purchases using social media and social behavior data
@BSmithUSM:
The core of social commerce starts with understanding consumer perception Principal reasons consumers connect with businesses on social sites
are for deals and purchases
Social Commerce Defined:
The Perception Gap
Social Commerce is in its infancy
Social commerce is on the rise◦ 1.93 Billion USD in funding for social commerce
startups in 1st trimester 2011
Social commerce is more than just sales◦ April 2010: Levi’s Friends Store◦ October 2010: Macy’s Magic Fitting Room, ◦ March 2011: Heinz’s Tryvertising campaign
Create unique forms of engagement:◦ Gamification◦ Rewards, loyalty programs, exclusive offers
Key takeaways of the evolution of social commerce:
We shared purchases with friends, gave reviews and made recommendations
Before Social Media…
Thanks to social media, customers are a click away from sharing their purchasing behavior with their personal communities
The SoLoMo customer◦ Access reviews, instant shopping advice, locate deals
while on the go
Social shopping sites/communitiesKaboodle, ThisNext, Pinterest
Kaboodle: 14 million monthly visitors, Over 900,000 registered users, 10 million+ products on the site
Shopping is more social than ever
Fastest site to 10 million monthly uniques Drives more referral web traffic than
Google+, Youtube, and LinkedIn combined Visual search drives commerce
Speaking of Pinterest…
Why?◦ Shopping is a social activity◦ Thanks to social media, shopping and sharing is easier than
ever
As of Dec 2011: The 3 top brands by fans were selling on Facebook: ◦ Coca-Cola (34m)◦ Walt Disney (28m)◦ Starbucks (25m)
More and more brands continue higher levels of engagement with their customers and are becoming more comfortable using social media as a sales channel
Social commerce is here to stay
The importance of Social Data for commerce◦ Customers use social media to discuss their
desires, future plans, purchasing decisions, and opinions
◦ Brands can spot trends in consumer data to become more customer-centric: Drive sales Decrease returns and support costs Inspire product innovation
Social commerce is here to stay…
Social commerce goes far deeper than having a Facebook store◦ It’s about discovery, sharing and innovation as much
as it is sales
Privacy issues are still the #1 concern◦ 89% of people age 20-33 worry about the privacy
implications of shopping on Facebook
Brands must minimize the perception gap for why consumers connect with them socially prior to implementing a social commerce strategy
In summation:
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