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Referral Marketing: How To Influence Social Buying Behaviour

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Internet retailers are shifting gears to determine the formula for success in an increasingly busy social space.

The fine folks at Edelman recently released an inside look at Digital in 2016, emerging five main trends to keep an eye out for as your marketing team embarks to crush its customer acquisition goals.

Publié dans : Marketing
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Referral Marketing: How To Influence Social Buying Behaviour

  1. 1. 9 WAYS TO INFLUENCE SOCIAL BUYING BEHAVIOUR R E A D O N T O F I N D O U T M O R E W I T H R E F E R R A L M A R K E T I N G
  2. 2. THE POTENTIAL Social   media   can   prove   to   be     powerful   business   asset,   particularly   from  a  user  acquisition  point  of  view.
  3. 3. Internet retailers are shifting gears to determine the social commerce success formula used to perform in an increasingly b u s y s o c i a l space.
  4. 4. TOP 5 DIGITAL TRENDS 2 0 1 6
  5. 5. 01  VIDEO 02  INFLUENCERS 03  THE  BUY  NOW  REVOLUTION 04  SOCIAL  LISTENING  AS  SOCIAL  INTELLIGENCE 05  CROSS-­‐DEVICE  CUSTOMER  JOURNEY  MAPPING
  6. 6. THE BUY NOW REVOLUTION TREND. Online  retail  marketing  executives   are   of   course   most   concerned   with
  7. 7. 9 ELEMENTS OF INFLUENCE FREE  SHIPPING  OFFER  |  63% EXCLUSIVE  DISCOUNT  |  56% DAILY  DEALS  |  55% SEEING  A  UNIQUE  PRODUCT  |  55% REWARDS/LOYALTY  POINTS  |  52% SEEING  A  PRODUCT  I  HAD  RECENTLY  VIEWED  |  52% A  PRODUCT  HAS  RECEIVED  NUMEROUS  “LIKES”  |  37% ABILITY  TO  VOTE  PROMOTION  COMPANY  OFFERS  |  35% A  FRIEND  HAS  “LIKED”  A  PRODUCT  |  33% BUYBUY % OF RESPONDENTS ‘Factors   that   would   encourage   US   Digital   Buyers  to  make  a  purchase  via  social  media   when  holiday  shopping’  from  MarketLive,  7th   Annual   Holiday   Research   Study,   Oct   15,   2015
  8. 8. C O N C L U S I O N Consumers want limited-time and exclusive shopping incentives above all else when considering purchasing off of social media.
  9. 9. How do online retailers keep up? Understand  customer  buying  behaviour.01 Create  contextual  "buy  now"  opportunities  that  actually  improve  the  shopper  experience.  02 Build  a  seamless  omnichannel  presence  online  and  03
  10. 10. 9 INSPIRING REFERRAL MARKETING IDEAS FOR THE PERFECT REFERRAL INCENTIVE - RANKED BY MAGNITUDE OF EFFECT -
  11. 11. 1. FREE SHIPPING of   US   eCommerce   shipments   included  free  shipping  during   2 0 1 4   h o l i d a y   s h o p p i n g   period. 70% One  of  the  most  powerful  tools   to   remove   any   purchasing   barriers.
  12. 12. 12 2. MEMBER-ONLY EXCLUSIVE DISCOUNT Exclusiveness   creates   additional   perceived   value   in   your   offer.   Offering   something   and   greatly   limiting   its   access   causes   it   to   look  far  more  valuable.
  13. 13. 3. DAILY DEALS Brings   in   valuable   new   willing-­‐and-­‐able   customers,   with   the   possibility   of   them   becoming  repeat  customers. 77%   of   deal   buyers   for   Groupon,   LivingSocial,   Travelzoo,   and   BuyWithMe  were  new  customers,  all  spent  more  than  the  deal's  value!
  14. 14. 14 4. SEEING A UNIQUE PRODUCT A   unique   product   has   an   attention-­‐grabbing   potential   to   cut   right   through   social   noise   and   straight   through   to  new  buyers.
  15. 15. 5. REWARD AND LOYALTY POINTS Pairing  loyalty  points  with   referral   rewards   provides   powerful   incenTves   for   both   acquisi'on   and   reten'on  purposes.
  16. 16. 16 6. SEEING A PREVIOUSLY VIEWED ITEM How   many   times   does   the   average  customer  see  your   message?   Effective   advertising   not   only  depends  on  messaging   but   also   on   the   frequency   of   impression   of   that   message. Retargeted  visitors  are  70%  more  likely  to  convert!
  17. 17. 7. A PRODUCT WITH MANY LIKES Many   fall   in   the   trap   of   focusing   on   what   have   been   referred   as   "vanity   metrics”. Likes   and   Shares   can   produce   larger   perceived   value   of   your   content   and   increase   the   propensity   of   a   viewer   to   engage.
  18. 18. 18 8. VOTING MECHANISMS E x t r e m e l y u s e f u l f o r companies who have trouble g e n e r a t i n g o r g a n i c engagement. Simply talking to your customers, involving them in your process and following up on it will greatly increase engagement.
  19. 19. 9. A FRIEND HAS LIKED A PRODUCT Social   recommendaSon   is   one   of   the   most   powerful   purchasing  triggers. We   naturally   accept   friends'   recommendaTons  as  the  truth  while   taking   any   informaTon   from   the   outside  with  a  hint  of  skepTcism.
  20. 20. an   exclusive   discount   to   entice   participation,   a   limited-­‐time   free   shipping   offer   to   create   urgency,   leveraging  social  sharing  mechanisms  to   increase   likes,   spreading   your   offer   to   other   friends   and   creating   the   foundation  for  a  loyal  relationship  using   retargeting   advertising   and   reward   points. A SUCCESSFUL REFERRAL PROGRAM ENTAILS:
  21. 21. HOWEVER, Mix-­‐and-­‐matching  these  influence  points  represents  a   serious  challenge  for  marketing  executives  who  want  to   get  more  social  sharing  out  of  their  existing  customers.
  22. 22. THINKING OF IMPLEMENTING A REFERRAL PROGRAM? Learn  the  essential  principles  marketing   executives  should  utilize  for  online  retail  referral   success.

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