social commerce presented @ global retail congress 2011 in berlin by henrik von scheel
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Social Commerce presented @ Global Retail Congress 2011 in Berlin by Henrik von ScheelTRANSCRIPT
Social Media Commerce 2011by Henrik von Scheel
Definition: Social Commerce
Selling with Social Media.
Social commerce is a subset of ecommerce 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.
Word-of-mouth applied to ecommerce
The power of Social Commerce today
+1 million
+150 millionpeople engage with Facebook on external websites each month
Facebook 201190%of consumers trust recommendations from people they know
The Nelson Company
90%of all purchases are subject to social influenceWired Magazine
sites have implemented facebook’s social layer
Techcrunch
“If I had to guess, social commerce is next to blow up.”
Mark Zuckerberg
Social Commerce is next to blow up
$30 billionpredicted revenues for social commerce market in 2015
Booz & Company67%spend more online after recommendationsBazaarvoice
Social Commerce reality check
$ 11 millionin one-day sales for GAP
1000Pampers sold 1000 diapers in 1 hour on its Facebook store
3.25average sales generated through Facebook
50%Of online sales come from Facebook
April 2009 “The Future Of The Social Web”
Timing of the 5 overlapping eras
The six dimensions TO SOCIAL COMMERCE SUCCESS
# 1 ScarcityLess is more (perceived value)
# 2 Affinity Shop with likeminded people
# 3 Reciprocity Pay back favours
# 4 PopularityFollow the crowd
# 5 Authority
Follow the leaders
# 6 ConsistencyOne step at a time
16 Social Commerce mega trends
# 1. Audience will be in control
# 2. Monitoring gets even more important
# 3. Engaging customers will be a challenge
# 4. Community managementis important to engage people
# 5. Social media and personal communications will be mobile
# 6. One social network to rule them all
# 7. Integrating websites with social technology
# 8. Social Commerce is next to blow up
# 9. Location! Location! Location!
# 10. Measuring results! (ROI)
Return of Investment
# 11. Social media integrated with other marketing activities
# 12. Brand is customer experience
Your brand ambassadors
# 13. Marketing will hit mobiles big time
# 14. Personal messaging will move to social networks
# 15. Campaigns spanning from offline to social.
# 16. The home page will be a social network
Social commerce – things to watch
‘Socializing’Brick-and-Mortar
Facebook creditThe Social Graph
meets Virtual Closet Interest Graph
Apps that enable sharing while shopping
with egift and group couponWal-mart, IKEA &Tesco
pushes into social commerce
The cross road: 2 strategies
Social Media on a eCommerce platform
eCommerce on a Social Media platform
Helping people connect where they buy
Helping people buy where they connect
Social Commerce sweet-spot
Shopping with
Social Intelligence
Social Media ROI
Key Social Commerce toolso Brand managemento Social ROIo Precision marketing o Social mobile shoppingo Consumer feedback o Product ambassador
o Ratings & reviewso Recommendations & referralso Forums & communitieso Social shoppingo Group buy & coupono Purchase sharing
Social Commerce business models
Results in 90 Day
90
seedo0
growAlignMindsets
Invite Contribution
90 DayExecution
1
2 3
Summary Seven key pointers for 2011
1. Experiment – Start selling on social platforms
2. Add mobile (sharing) into your social mix
3. Implement social plug-ins e.g. like on facebook
4. Up-sell with review and recommendations
5. Integrate chat so friends can shop together
6. Make your website a social flagship
7. Bring your offline brand experience online
Request YOUR own 1-on-1 social commerce session@: [email protected]
About the Author
Twitter: von_scheel
email: [email protected]
LeadingAdvisor onStrategy
Investor
Social commerce
EXPERTMaking money with social
media ! ! !