The Motorola Solutions dedicated team members introduce themselves.
Social Media Monetization: Engaging in social commerce can help marketers measure and monetize campaigns. The business value can be measured directly and bypass the debate on the value of social media marketing. Social commerce has the ability to speak the language of business, using ROI to measure success. BabyAndMeGifts: 50% of online sales from FacebookWetseal: 20% of online sales from FacebookE-Commerce Sales Optimization: Social commerce can drive traffic, increase conversion rates and increase average order value for online retailers. Retailers can set up shop where customers are increasingly spending their time, where 1/11 people are on Facebook. Blendtec: Increased sales by 500% by seeding videos to social commerce platform and directing customers to its e-commerce website. Ticketmaster: Every time a user posts on their news feed that they’ve bought a ticket from, friends spend an additional $5.30 on TicketmasterOn par with web-stores (at 3-4%), f-stores have a 2-4% conversion rate. (Forrester/Shop.org)Business Model Innovation: Social commerce allows businesses to create new revenue streams by curating and extracting value from social media content. Nike+: Nike and Apple curates runners’ data online to provide collaborative tools and competitive performance reports. Diesel & Macy’s: Facebook-connected fitting roomshttp://www.ticketnews.com/news/Ticketmasters-ecommerce-efforts-get-boost-from-Facebook041107936Customer Intelligence: Businesses can leverage social commerce as a tool for listening and extracting customer insights. These insights can further provide benefits such as focusing merchandising efforts and aid in targeting customers. Adobe Community: Adobe found an immediate ROI in only a few weeks using social targeting technology. There is use of listening platforms that mine a variety of traditional, online, and social sources to extract and deliver customer intelligence.Godiva: The chocolatier created a private, invitation-only community to better understand and target its customers. The community led to the creation of an affordable product line, individually wrapped chocolates called Gems sold in grocery and drug stores. Gems was the biggest launch in company history ringing up $35 million in the first year.
Product Discovery (Awareness Booster): Social commerce can help customers discover new products in the initial “need recognition” and “product search” phases of their customer journey. Social communities can help people become aware of needs they do not know they have and promotional content can help people discover products they know, like, or trust. Product Selection (Decision Accelerator): Social commerce can promote informed purchase decisions through validation from peers or an expert. Product Referral (Advocacy Activator): In the post-purchase phase, social commerce encourages customers to share their experiences and feedback with others. Online word of mouth can help businesses realize the value of customer referrals while building customer loyalty. Chompon: Online sales platform found that Facebook shares generate on average $14 in sales, and Likes generate $8 Best Buy: Encourages shoppers to share their purchase (Shop + Share)The above benefits overall expedite a customer’s purchase decision time and accelerates sales for a company.
Small ROI Potential The market opportunity for selling on Facebook is tiny – even the most enthusiastic projections forecast a market size only 1/3 of that of mobile commerce, representing a maximum of 4% of digital commerceCustomer Purchase Behavior Online shoppers don’t want to buy on Facebook – the Booz & Allen report on social commerce found that 73% of online shoppers would not purchase goods on Facebook or through other social networking sitesIneffective Customer Acquisition Businesses find social networks to be the least effective customer acquisition base. Weak Potential for Customer Exchange People tend to not share content on social sites that is product/purchase-related. Without commerce-related conversation between customers, social commerce becomes social media marketing, with the dialogue existing only between customer and brand. Facebook as a Forum Facebook first and foremost is a people-centric forum, which makes it best suited to being a platform for generating insight, advocacy, loyalty and engagement. It is not geared towards generating sales: a survey at Goldman Sachs showed that Facebook has little effect on online shopping activity.
Most social commerce happens within Facebook, so we will focus on F-commerce first and then at the end go into other less common types.
Three Types:Faux Store: A faux store is an e-commerce retailer’s storefront only. Features a simple graphic hyperlinked to the e-commerce website. Full Store: Full stores offer the full dot com e-commerce experience optimized for and inside of Facebook.Full Line In-App Product Browsing: The full product category is offered within a Facebook App, but the final transaction is redirected to the company’s website. The shopping cart experience may or may not be within the development of the app varies among companies. Full Line In-App Transaction: The full product catalogue, shopping cart, and the checkout process are handled within Facebook. Advantages include increasing customer exposure to a full range of products and frictionless commerce with the promise of higher conversion rates.Fan Stores/”Pop-up” Store: A store that offers a set limited selection of products for purchase on Facebook.Flash/Event Sales: Offers a limited range of fan-first or fan-only exclusives to fans, or to support special events. Deal of the Day: A temporary store that offers a promotion for one-day. In-News Feed Purchases: A temporary sale where customers are able to purchase directly from their personal news feeds.
http://www.christophkraemer.com/2011/02/two-examples-of-successful-interactive-facebook-campaigns/FAUX STORES Tesco: Generated over $3.2 million in sales over the past year through its Facebook page Healthy Choice: After issuing Facebook coupons the Healthy Choice fan base grew from just under 7,000 to 60,000. Their ads had over 11 million impressions and 60% of new fans subscribed to the Healthy Choice Newsletter.
Fan Stores/”Pop-up” Store: A store that offers a set limited selection of products for purchase on Facebook.Flash/Event Sales: Offers a limited range of fan-first or fan-only exclusives to fans, or to support special events. Deal of the Day: A temporary store that offers a promotion for one-day. In-News Feed Purchases: A temporary sale where customers are able to purchase directly from their personal news feeds. Good opportunity to trail Facebook commerce on a limited budget.Ability to offer Fan-only experience without incurring a cost for special discounts.
Flash event to sell 1000 packs of P&G’s new line of Pampers Cruisers with DRY MAX at $9.99. Special product launch before they hit stores. Sold out within an hour.
Rachel Roy6 hours: Time it took for the Rachel Roy Facebook jewelry store to sell out3rd highest: daily sales made by Rachel Roy, the day it opened it’s pop-up f-storePantene
Walmart offers exclusive deals to their fans that go live when enough ‘Likes’ are reached. Wal-mart: 5000 customers used it on the day of the launch Sears: Deals go live when enough likes have been reached http://socialcommercetoday.com/f-commerce-store-roundup-32-notable-big-brand-facebook-stores-screenshots/
Volkswagen: Came up with the fist Dutch auction f-store. A car was featured on the site and for every “like” the page received the price of the car dropped by a euro.http://www.fabia-ilike.be/home.php?lang=frhttp://socialcommercetoday.com/volkswagen-skoda-the-more-you-like-the-less-you-pay/
Three Types:Faux Store: A faux store is an e-commerce retailer’s storefront only. Features a simple graphic hyperlinked to the e-commerce website. Full Store: Full stores offer the full dot com e-commerce experience optimized for and inside of Facebook.Full Line In-App Product Browsing: The full product category is offered within a Facebook App, but the final transaction is redirected to the company’s website. The shopping cart experience may or may not be within the development of the app varies among companies. Full Line In-App Transaction: The full product catalogue, shopping cart, and the checkout process are handled within Facebook. Advantages include increasing customer exposure to a full range of products and frictionless commerce with the promise of higher conversion rates.Fan Stores/”Pop-up” Store: A store that offers a set limited selection of products for purchase on Facebook.Flash/Event Sales: Offers a limited range of fan-first or fan-only exclusives to fans, or to support special events. Deal of the Day: A temporary store that offers a promotion for one-day. In-News Feed Purchases: A temporary sale where customers are able to purchase directly from their personal news feeds.
Best Buy: Discovered their core users and heaviest purchasers were their Facebook users. Fans went from 27,000 to 900,000 in 9 days after storefront was launched. Now the page has 3,281,961 fans. WOMMA estimates the value of a Facebook fan is $72.00
Livescribe: Senior Marketing Manager, Kaufman, said that the company has seen an increase in revenue and customer awareness after the small investment of a Facebook storefront.
Warner Brothers: Opened up a Facebook movie rental store in 2011; after the service was launched Netflix’s share value dropped $650,000,000
Three Types:Faux Store: A faux store is an e-commerce retailer’s storefront only. Features a simple graphic hyperlinked to the e-commerce website. Full Store: Full stores offer the full dot com e-commerce experience optimized for and inside of Facebook.Full Line In-App Product Browsing: The full product category is offered within a Facebook App, but the final transaction is redirected to the company’s website. The shopping cart experience may or may not be within the development of the app varies among companies. Full Line In-App Transaction: The full product catalogue, shopping cart, and the checkout process are handled within Facebook. Advantages include increasing customer exposure to a full range of products and frictionless commerce with the promise of higher conversion rates.Fan Stores/”Pop-up” Store: A store that offers a set limited selection of products for purchase on Facebook.Flash/Event Sales: Offers a limited range of fan-first or fan-only exclusives to fans, or to support special events. Deal of the Day: A temporary store that offers a promotion for one-day. In-News Feed Purchases: A temporary sale where customers are able to purchase directly from their personal news feeds.
Noted slight increase in fan activity and increase in new fans. http://www.insidefacebook.com/2010/01/18/browse-american-eagle-aerie-merchandise-directly-from-your-news-feed-with-new-widget/
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Dexter: Viral “wall store” was shared by users This strategy taps into the 85% of people who do not visit the actual fan page on a daily basis/ they operate via newsfeed
Hoping to increase up-sell, Levi’s created a customizable Friend Store using aggregated Facebook data based on what the customer’s friends like and have they have suggested to them. On the Facebook page, the store is at a faux store level. A WeaknessLevi’s has 2.9 million fans, but at the product level, the Original 501 Stonewash jeans has only 450 likes. Levi’s has successfully enabled dialog with 2.9 million people, but in terms of social commerce, the conversion with customers is lacking.
Polyvore lets you shop by topic/category then it the shopper can narrow down what they are looking for by price, color, etcPolyvore grabs those items from all different stores and designers and the shopper can browse. When the shopper finds something he/she likes it directs the shopper to that website. The social part of this is the Style Advice tab. A member could ask questions about outfits and things like that.There is also something they have called the Polyvore blogger awards on the website. They award fashion bloggers. Lastly, there is a Creation tab where you can create an outfit by browsing through real clothing for sale by other stores and you can share those looks throughout Polyvore and I am sure through social networking sites.
Wanelo, which is combination of the words "want," "need," and "love," is a site for bookmarking and sharing products with friends. Shoppers can follow one another and see what's popular based on what friends are sharing.(The screen shot is attached)"Find unique productsand stores you've never heard of."I also attached a wanelo example screenshot... just an example of how you buy something or share something on the site and how it is "saved" to your list of itemsThis website is really cool you should check it out
Name Your Own PriceGap has recently taken the daily deal concept a step further with the launch of its new Gap My Price program, which allows customers to bid for clothing and accessories. The process is the same as with Priceline, which targets cost-conscious travelers: You extend a sales offer for a particular item; Gap then makes a final offer you can either accept or reject.
