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MOBEY Forum

MOBEY Forum. Karen Webster |CEO Market Platform Dynamics April 17, 2013. Our Discussion. Level Setting: What is Social Commerce. Connecting people where they buy. Letting people buy where they connect. In Many Ways, Its Not All That New. Connecting people where they buy.

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MOBEY Forum

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  1. MOBEY Forum Karen Webster |CEO Market Platform Dynamics April 17, 2013

  2. Our Discussion

  3. Level Setting: What is Social Commerce • Connecting people where they buy • Letting people buy where they connect

  4. In Many Ways, Its Not All That New • Connecting people where they buy • Letting people buy where they connect

  5. 1. What is New: Online Social Networks • 62% of adults worldwide now use social media • 66% of Americans use social networks • 86% of 18 – 29 use social networks • 34% aged 65+ do too Total Unique Visitors Source: comScore (10/11)

  6. 2. Facebook Assembles Tons of Human Beings • Every day • 50% of users visit the site • Spend 20% of their time on the internet there • 26% “like” and comment on content • 55% share photos Users spend, on average, 8 hours a month on the site.

  7. 3. Social Helps Brands Talk to Their Customers “[Burberry is] using the platform to drive traffic to its retail site at a fraction of the cost of what it would have to pay on Google and other search engines. “ In March of 2012Unique Visitors to website: 23k Unique Visitors to Facebook Page: 320k MPD | SOCIAL COMMERCE STRATEGIES

  8. 4. Facebook Sets the Stage for Buying • 77% of brands say they had acquired a customer through Facebook • 41% of users are more likely to recommend a brand they like • 65% of users say they like a brand in order to get information about offers and deals • 47% of users say Facebook has the greatest impact on purchase behavior MPD | SOCIAL COMMERCE STRATEGIES

  9. 5. Influence is a Key Driver of Social Networks Low High • On Facebook, most activity is concentrated in the lower left • But the greatest impact to consumers and brands is in the upper right quadrant • Why? Because it leverages the social power of the social network Social Impact Low High Social Engagement

  10. 6. Technology Enables Many Possibilities • getting friends to all act at the same time on the same proposition • engaging friends to coax along the buying process • using social networks as an ecommerce channel • sending information and offers

  11. So, What Are Brands Doing? Creating Affinity • Using Facebook Social Sharing on their web sites • Drives “downstream” traffic to Facebook via social shares • Social shares seen by friends drive “upstream” traffic and conversions on web sites. • Brands use social tools off Facebook to message networks on Facebook that convert to sales on their web sites.

  12. The Social Commerce Evolution

  13. Case Study | Fab.com • Relatively small but highly engaged fan base ~230,000 • Most social traffic comes from 120k daily users of its web social functionality that drive friend to friend sharing and “upstream” clicks to Fab.com site • 50% new customer acquisition from friend to friend sharing and 15% conversion from socially discovered products

  14. Case Study | Sears • “Shop Your Way” Portal incorporates a variety of ways for friends to share product recommendations and purchases and see the shopping activity of friends in real time • Provides rewards for those who undertake social sharing activities • Keeps interests alive by running sweeps and other promotions

  15. Some Real Life Proof Wanelo • Twitter commerce application enables users to link cards to Twitter account and buy via #. Promotional offer is redeemed at physical store when card is swiped • Facebook gifting uses online prompts to buy gifts for friends and fulfills via a plastic gift card mailed to them a week later for use in physical stores • Teen social network alternative to Facebook that aggregates eyeballs to “window shop” and push sales to ecommerce websites

  16. A Few Final Thoughts

  17. In Closing …. Making Social Commerce a Winning Strategy Begins with the Basics. • It’s about relevance • It’s about affinity • Its about influence

  18. Thank you! Karen.webster@marketplatforms.com

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