Social Commerce is use of social strategies to anticipate, personalize and energize a consumer’s shopping experience.
And with the rise of social media, location-based marketing and mobile technologies, the start of shopping decisions for the majority of consumers starts with online research.
As consumers spend more and more time online, they are – like never before – taking recommendations of friends, family and trusted communities.
Today retailers are readily leveraging social media to manage and deepen customer relationships, address customer-service issues, inform product decisions, and even track their competitors.
What the numbers say…
- 67% of shoppers spend more when they have received a recommendation from their online community of friends.
- People spend 30% of leisure time online. *2
- 53% of people on Twitter recommend companies and/or products in their Tweets, with 48% of them delivering on their intention to buy the product. *3
- 90% of consumers online trust recommendations from people they know; 70% trust opinions of unknown users. *4
- Predicted value of social commerce is set to reach $30bn worldwide by 2015.
Social Commerce Services:
- Social Commerce & Brand Promotional Strategy
- Social Media Integration & Application Build out
- Social Commerce Product Launch
- Integration of Social Commerce with Interactive Marketing
Social and Online Enhancements:
- Social shopping storefronts and shopping cart software
- Reviews, product ratings, and customer feedback
- Q&A functions & wish-lists
- Social media sharing functionality (Facebook, Twitter, etc.)
- Discussion forums, chat rooms, newsletters & blogs
- Social Sign On, custom user profiles & personalized pages
- Coupon sites, promotions, referrals, subscriptions and social rewards
- How-to videos, podcasts, video uploads
- User-generated content, feeds & tags
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*2 Digital World, Digital Life
*3 ROI Research for Performance, June 2010
*4 Econsultancy, July 2009