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Social Commerce… What Are We Waiting For Jurgen Appelo version 3
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Social Commerce… What Are We Waiting For
Jurgen Appelo version 3
Jurgen Appelo writer, speaker,
entrepreneur...
www.jurgenappelo.com
The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010)
http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010)
1. The Audience Is In Control
http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010)
1. The Audience Is In Control
2. Social Media Is Not Free Publicity
http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010)
1. The Audience Is In Control
2. Social Media Is Not Free Publicity
3. Social Gaming
http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010)
1. The Audience Is In Control
2. Social Media Is Not Free Publicity
3. Social Gaming
4. ROI Measurement
http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010)
1. The Audience Is In Control
2. Social Media Is Not Free Publicity
3. Social Gaming
4. ROI Measurement
5. Integrating, Mixing & Sharing
http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010)
1. The Audience Is In Control
2. Social Media Is Not Free Publicity
3. Social Gaming
4. ROI Measurement
5. Integrating, Mixing & Sharing
6. Mobile & Location Based Content
http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
The 7 Social Media Marketing Trends (ViralBlog - March 31, 2010)
1. The Audience Is In Control
2. Social Media Is Not Free Publicity
3. Social Gaming
4. ROI Measurement
5. Integrating, Mixing & Sharing
6. Mobile & Location Based Content
7. Social Commerce
http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
Social Commerce… a trend? When?
http://www.google.com/trends?q=e-commerce,+e-business,+social+commerce
An investigation…
Social Commerce… a definition
“A subset of electronic commerce that involves using social media, online media that supports social interaction and user contributions, to assist in the online buying and selling of products and services.”
http://socialcommercetoday.com/social-commerce-definition-word-cloud-definitive-definition-list/
Ratings & Reviews
Sharing & Referring
Social Media Marketing
Social Shopping
Forums & Communities
Social Applications
Conclusions
Agenda
Ratings & Reviews
Why do we trust what other buyers recommend?
Why should we trust the reviews at point-of-sale or in a brochure?
traditional approach:
the brand controls the reviews
not really social, no trust
Can we trust independent product directories?
Should we trust independent search?
Maybe we can trust experts and authorities?
Hm, apparently not…
word-of-mouth, but who can we trust?
Social proof: Put your money where your mouth is
trust + social proof = $$$
Ratings & Reviews
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
trust + social proof = $$$
boosts traffic volume and order value (up to 25%)
Ratings & Reviews
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
trust + social proof = $$$
boosts traffic volume and order value (up to 25%)
negative reviews have little or no effect on sales
Ratings & Reviews
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
Ratings & Reviews
Sharing & Referring
Social Media Marketing
Social Shopping
Forums & Communities
Social Applications
Conclusions
Agenda
Sharing & Referring
Social network sharing: word-of-mouth for friends
This has led to an answer to… What do my friends think of this product?
And also an answer to… What are my friends buying?
And it also led to... Influencer marketing
A small detour… social network theory
focus on the right people
“gatekeepers” know the right people
“pulsetakers” know the most people
who know the right people
“hubs” know the most people
End of detour… social network theory influencer marketing is not spamming the hubs it’s working through the right people (and let the network do the rest)
Sharing & Referring
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
endorsements by friends: double conversion rates
Sharing & Referring
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
endorsements by friends: double conversion rates
shifting ethics: people are sharing more and more
Sharing & Referring
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
endorsements by friends: double conversion rates
shifting ethics: people are sharing more and more
requires strategies for influencing the right people
Ratings & Reviews
Sharing & Referring
Social Media Marketing
Social Shopping
Forums & Communities
Social Applications
Conclusions
Agenda
Social Media Marketing
Broadcast promotional content, to the right people
Broadcast exclusive deals, to the right people
But that is all still about broadcasting…
Organize social media events and contests…
Use local promotion…
Involving consumers means engagement
Social Media Marketing
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
engagement replaces broadcasting
Social Media Marketing
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
engagement replaces broadcasting
up to 500% sales increase
Social Media Marketing
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
engagement replaces broadcasting
up to 500% sales increase
big opportunities for location-based services
Ratings & Reviews
Sharing & Referring
Social Media Marketing
Social Shopping
Forums & Communities
Social Applications
Conclusions
Agenda
Social Shopping
Synchronous shopping… “just like in real life”
Group buying… “get a better deal”
For shop-a-holics… “fun shopping”
adding value between networks and vendors
Factory outlets… “remove the middle man”
Social storefronts… “put the shop in the street”
Garage sales… “shopping among friends”
Social Shopping
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
specialist networks moving in to add value
Social Shopping
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
specialist networks moving in to add value
producers and consumers getting closer
Social Shopping
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
specialist networks moving in to add value
producers and consumers getting closer
reports of up to +50% in average order value
Ratings & Reviews
Sharing & Referring
Social Media Marketing
Social Shopping
Forums & Communities
Social Applications
Conclusions
Agenda
Forums & Communities
Consumers following a
brand
Consumers discussing products
Consumers discussing
ideas
Consumers helping
consumers
Consumers supporting consumers
conversations between consumers and consumers
conversations between consumers and employees
Employees assisting
consumers
Forums & Communities
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
requires trust between consumers and brand
Forums & Communities
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
requires trust between consumers and brand
strengthens trust between consumers and brand
Forums & Communities
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
requires trust between consumers and brand
strengthens trust between consumers and brand
reported to be 4x as effective as TV ads
Ratings & Reviews
Sharing & Referring
Social Media Marketing
Social Shopping
Forums & Communities
Social Applications
Conclusions
Agenda
Social Applications
M-Commerce: move shops from web to mobile…
Add on-line features to off-line products…
Offer added value for existing customers…
Tap into new social credit systems…
Social Applications
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
apps move from web to mobile (M-commerce)
Social Applications
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
apps move from web to mobile (M-commerce)
apps move from web to social (F-commerce)
Social Applications
http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
apps move from web to mobile (M-commerce)
apps move from web to social (F-commerce)
new social credit systems emerging
Ratings & Reviews
Sharing & Referring
Social Media Marketing
Social Shopping
Forums & Communities
Social Applications
Conclusions
Agenda
Conclusions
blurring and convergence
of channels
kevindooley
matching business structure with dynamic environment
jared
master data management
for social identities
So, is Social Commerce… a trend
Social Commerce is… a transformation
“Just as e-commerce transformed retail,
social media transforms e-commerce
by changing people’s expectations.”
Mitch Joel - April 21, 2010 - Social Commerce Summit
http://socialcommercesummit.com/
7 Important Questions…
1. What is our strategy for targeting the right people? 2. How do we build trust in our brand? 3. How do we develop social proof? 4. Are we engaging instead of just broadcasting? 5. What can we do locally instead of globally? 6. Can social media disrupt our supply chain? 7. Are our consumer apps where our consumers are?
the end
@jurgenappelo (twitter)
slideshare.net/jurgenappelo
jurgenappelo.com (site)
noop.nl (blog)
management30.com (book)
Sources
The 6 Dimensions of Social Commerce: Rated and Reviewed http://socialcommercetoday.com/the-6-dimensions-of-social-commerce-rated-and-reviewed/
Simple Definition of Social Commerce http://socialcommercetoday.com/social-commerce-definition-word-cloud-definitive-definition-list/
7 Solid Social Media Marketing Trends http://www.viralblog.com/social-media/7-solid-social-media-marketing-trends/
Speed Summary / Mitch Joel on Social Media @ Social Commerce Summit http://socialcommercetoday.com/speed-summary-mitch-joel-on-social-media-social-commerce-summit/
Five Reasons why Supply Chain Leaders need to know More about Social Commerce http://www.supplychainshaman.com/2010/03/five-reasons-why-supply-chain-leaders-need-to-know-about-
social-commerce/
Amazon: You Need to Change Your Idiotic Customer Review Policy Right Now http://techcrunch.com/2010/03/22/im-not-kidding-do-it-now/
Amazon readers’ reviews, and professional critics http://www.amandacraig.com/pages/blog_01/blog_item.asp?Blog_01ID=229
One’s Thoughts of Epinions.com http://www.associatedcontent.com/article/1941586/ones_thoughts_of_epinionscom.html
Sources
Announcing the Google Product Reviews Program http://googlemerchantblog.blogspot.com/2010/04/announcing-google-product-reviews.html
Review of Google Product Search http://google.about.com/od/googlereviews/gr/productSearchRe.htm
Bing Now Lets You Shop With Your Friends http://thenextweb.com/microsoft/2010/05/07/bing-now-lets-you-shop-with-your-friends/
SponsoredReviews.com Review http://www.bukisa.com/articles/254781_sponsoredreviewscom-review-my-experience-with-this-blog-review-
service
Amazon.com Recommendations: Item-to-Item Collaborative Filtering (PDF) http://agents.csie.ntu.edu.tw/~yjhsu/courses/u2010/papers/Amazon%20Recommendations.pdf
How Levi’s and Facebook Prompt Your Friends To Improve Your Buying Experience http://www.web-strategist.com/blog/2010/04/30/social-commerce-breakdown-how-levis-and-facebook-
prompt-your-friends-to-get-you-to-buy/
Review: Blippy (“What are your friends buying?”) http://paulstamatiou.com/review-blippy-what-are-your-friends-buying
YouTube Brand Channels – The Missing Link http://www.reelseo.com/youtube-brand-channels/
Sources
Facebook Fronts on Foursquare, Drinks McDonald’s Milkshake http://www.fastcompany.com/1640354/facebook-foursquare-location-security-personal-data-leak-check-in-
mcdonalds
A TechCrunch Teardown: What Makes Groupon Tick http://techcrunch.com/2010/05/02/teardown-groupon/
The Lure of Freebies: Try Some Tryvertising http://blogs.bnet.com/customer-service/?p=951
Building online brands: the influence sphere of brand communities http://www.socialemailmarketing.eu/2010/05/social-media-marketing-online-brands-and-the-influence-
sphere-of-brand-communities.html
Marketing to the Ubiquitous Cellphone http://www.ecommercetimes.com/story/69399.html?wlc=1273916377
How Nike’s Social Network Sells to Runners http://www.businessweek.com/magazine/content/08_46/b4108074443945.htm
Starbucks f-commerce + m-commerce = New Gold Standard http://socialcommercetoday.com/starbucks-f-commerce-m-commerce-new-gold-standard/
Facebook’s Credits Bank of the Web http://blogs.ft.com/techblog/2010/04/facebook’s-credits-bank-of-the-web/
Sources
5 Ways Facebook’s Open Graph Will Impact E-commerce http://mashable.com/2010/05/07/facebook-open-graph-ecommerce/
Trends: Master Data Management 2010 – Focus on Outcomes Drives Push for Value http://blog.softwareinsider.org/2009/10/26/trends-master-data-management-2010-focus-on-outcomes-
drives-push-for-value/
Trend: When Digital Displays Fuel Social Commerce http://www.web-strategist.com/blog/2010/05/08/trend-when-digital-displays-become-social/
Pepsi rolls out multifaceted LBS mobile loyalty initiatives http://www.mobilecommercedaily.com/pepsi-rolls-out-multifaceted-lbs-mobile-loyalty-initiatives/
Speed Summary / Google on Social Commerce – Social Commerce Summit http://socialcommercetoday.com/speed-summary-google-on-social-commerce-social-commerce-summit/
On Trust and Culture (Social Network Theory) http://globalleadershipnetwork.com/Articles/trust-and-culture.htm
Procter & Gamble’s new e-store markets directly to consumers http://econsultancy.com/blog/5941-proctor-gamble-markets-directly-to-consumers-with-new-e-store
@jurgenappelo
slideshare.net/jurgenappelo
noop.nl
linkedin.com/in/jurgenappelo
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This presentation was inspired by the works of many people, and I cannot possibly list them all. Though I did my very best to attribute all authors of texts and images, and to recognize any copyrights, if you think that anything in this presentation should be changed, added or removed, please contact me at [email protected].
