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The Social Commerce Opportunity: How Brands Can Take Advantage of the Next Evolution in Commerce

November 11th, 2011

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Online behavior has shifted. Internet users are spending an increasing majority of their web time on social networks and blogs. This gives brands an unprecedented view into consumers’ likes and interests, and the next step in the evolution of social media is about to reach critical mass. Armed with this information, brands are able to present distinct and directed campaigns to these fans, and not only result in sales, but better engagement and increased community.

This shift in online behavior means brands should meet consumers where they spend most of their time online:

- 23% of all time spent online is on social networks and blogs

- 70% of adult social networkers shop online

- Nearly 4 in 5 US adults use social networks

Brands who add social commerce to their social media strategy not only increase revenue, but also increase community growth:

- According to Gartner research by 2015, companies will generate 50% of Web sales via social and mobile

- Booz Allen forecasts people will spend $30 Billion through social commerce by 2015

- Moontoast has found a 68% average lift in community growth as social commerce is introduced

- 42% of consumers have followed a retailer proactively, with the average follower following 6.3 retailers

Brands can reach engaged audiences better than ever before:

- 53% of social networkers follow a brand

- 75% of social networkers are more likely to be heavy spenders on music

- 47% of social networkers are more likely to be heavy spenders on shoes, clothing and accessories.

Brands can present offers better than ever before:

- The right offer to the right person

- Commerce as a reward

- Facebook tab stores

- Facebook news feed stores

- Moontoast found that conversion rates nearly tripled (from 3.4% to 9.4%) as consumers came to expect fan-offers on Facebook

Adoption Through Confidence: Tips to Build Trust in a new Environment

- Repetition: The more a fan sees a post for an offer (from a brand), the more they trust the offer

- User Experience: Allow user to stay on the site they are browsing and create impulse purchase opportunities

- Trusted Payment Methods: Consumers trust known payment methods and security standards such as PayPal

Brands who add social commerce to their social media strategy not only increase revenue, but also increase community growth and will see a 68% average lift as commerce is introduced. Social Commerce will not only help brands to monetize social media efforts, but it will fit in seamlessly with social media strategies and offer new ways to reward people through exciting offers and a better user experience.

Download The Social Commerce Opportunity: How Brands Can Take Advantage of the Next Evolution in Commerce here.

Tags: Adriana Gascoigne, book, brands, girls in tech, Online behavior, online marketing, Social Commerce, women in tech
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Trend Forecast: Human Relationships Transcend Technology

June 10th, 2009

New York

Tommy Michelle Jenkins

Guest blogger: Alexis Stack

Alexis Stack

Alexis Stack is a digital strategist with 10 years of integrated marketing experience. As a consultant, Alexis focuses her energies helping lifestyle brands achieve the growth and reach they seek. Working for advertising agencies in New York City, Alexis has developed her keen sense of trend forecasting and a passion for innovation and emerging technologies. This led her to create Diary of a Labellover, a site dedicated to her passion for fashion and a forum for which she can evangelize brands and help position their viability in the marketplace.

Alexis is Marketing Manager of Girls in Tech, NYC

It seems like every nanosecond there is another app being born from a Twitter or Facebook API. In a world where people are accustomed to an overload of information and instant gratification via their coveted “social networks” we often have to remind ourselves of what really is important and the value that those networks bring.

When the ipod first came out I thought it was the end of engagement with strangers forever. It seemed to be a great excuse to not have to engage with people anymore and all with the introduction of 1,000 songs in your pocket. However, the presence of Twitter has changed the game. It has proven to be a great lesson more than any other social network. Engaging with brands and individuals through tweets has blossomed many incredible business opportunities and new relationships. Smashing Darling is a great example of a contact born from Twitter and nurtured in real life. A brand that was happy to support the NYC chapter when asked for the Spring Bash event we recently hosted.

At a recent Business Development Institute conference discussing how brands use social media, it was inspirational to hear how Tyson Foods, a brand just known for chicken, had become a social force by partnering with local food banks nationwide in an valiant effort to aid hunger relief. Although the joke seemed to be that their media relations department had no “real budget, just chickens” the executives at Tyson were stunned by the warm reception they received by local social media organizations, particularly Social Media Breakfast of Boston who helped rally to their cause and secured 70,000lbs of food on behalf of their local foodbank. In case you don’t know how much 70,000lbs is that is 54,000 meals!

Social networks and technology have proven to be an invaluable utility that foster a means not only to push boundaries but also reach out with that human touch. Creativity and passion are not sparked by things they are sparked by people and that is why human relationships will always transcend technology. If you have a similar experience please share it.