social commerce the opportunity for brands
Post on 17-Oct-2014
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DESCRIPTION
A short presentation opportunities in social commerce opportunities for brands - with examples from Levi's, Disney, P&G, Starbucks, Dell, DieselTRANSCRIPT
Social Commerce
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The Opportunity for Brands
Dr Paul MarsdenSocial Media StrategistSyzygy Group
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Social Commerce
WHATSO WHAT
WHAT NOW
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Social Commerce
WHATSO WHAT
WHAT NOW
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Social Commerce
“Selling with Social Media”
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Social Commerce
“Selling with Social Media”
Social commerce: Subset of electronic commerce that involves using social media* to assist in the online buying and selling of products and services.
* online media that supports social interaction and user contributions,
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What: “Social commerce is the concept of word of mouth applied to e-commerce”
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What: Two Kinds of Social Commerce1) social media on e-commerce platforms
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What: Two Kinds of Social Commerce2) e-commerce on social media platforms
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What: Six Basic Toolsets
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1. Ratings & Reviews
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2. Social Shopping
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3. Referrals & Recommendations
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4. Forums & Communities
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5. Social Media Optimization
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6. Social Ads & Apps
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Social Commerce
WHATSO WHAT
WHAT NOW
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Social Commerce
WHATSO WHAT
WHAT NOW
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So What:1) Monetize your social media investment
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So What:2) Solve your problem of social media ROI
conversations
don’t ring cash
registers
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So What:2) Solve your problem of social media ROI
conversations
don’t ring cash
registers
ROI = Money in - Money Out
i.e. it’s a business metric
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So What:3) Gather market insight
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So What:4) Boost e-commerce sales (traffic, conversion, order value)
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So What:5) Improve customer loyalty by enhancing user experience
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So What:6) Activate word of mouth (referral) value
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So What:7) Differentiate yourself from the competition
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Social Commerce
WHATSO WHAT
WHAT NOW
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Social Commerce
WHATSO WHAT
WHAT NOW
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What Now? There is no rule book - you get to create the future!
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What Now? Not rocket science: Social commerce is about people not technology
We♥ Social
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What Now?Deploy the LEAD strategy
ListenExperimentApplyDevelop
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LISTEN - social media monitoring and competitor monitoring - how are others using social commerce?
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EXPERIMENT trial a number of low cost/effort pilot tests. Create ROI models
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APPLY learnings with a creative solution based on what works and that fits your digital strategy
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DEVELOP constantly evolve to beat user expectations - deliver “joy of use” with new insights and technology
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“It’s not the strongest that survives. Nor the most intelligent. It’s the one most adaptable to change”