3/22/2018 Social Media’s Evolving Role in Retail: Commerce, Product Testing – WWD
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Social Media’s Evolving Role inRetail: Commerce, Product TestingAs social networks advance in features, so do consumer expectationsof retailers in the space.
BUSINESS / MARKETING AND PROMOTION
By Elizabeth Doupnik on March 22, 2018
If there’s one thing that social media is not, it’s stagnant. As the
platforms continue to innervate and expand, so do consumers’
expectations of retailers and brands in the space — namely, the
ability to discover new items and purchase directly from a
brand’s page.
And though conversions remain low thus far, Robert Glazer,
founder and managing director of Acceleration Partners, a firm
focused on affiliate marketing with customers like Adidas,
Target and Warby Parker, predicts that this is set to change
shortly. Here, Glazer discusses the ongoing evolution of social
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media’s role in retail and how fashion companies can ready
themselves for the next series of updates and refreshed con-
sumer behavior.
WWD: What have been the biggest changes in retail as a result of
social media?
Robert Glazer: Digital continues to have a big influence on
consumers — their habits, preferences and priorities continue
to quickly evolve with the changing social media landscape. As
digital and in-store experiences have blurred, retailers have
become very forward-thinking, and embracing new possibilities
and innovations to engage their customers.
As social media matures, retailers are not only looking to build
their brand and engage new customers but are also leveraging
the channel to drive performance — leads or sales. Retailers are
turning to micro-influencers that align with their brand on In-
stagram, Snapchat, Facebook and Pinterest to target the right
audience, create personalized content and reach ROI
goals. These micro-influencers have a highly engaged group of
followers. What’s more, retailers have access to demographic
and behavioral data, which allows them to better understand
and reach their customers.
WWD: So far, social commerce has remained obtuse for retailers.
What needs to change to make social media a thriving
marketplace?
R.G.: The continued development of purpose-driven digital
solutions will help retailers drive performance and accelerate
shoppable social media. Chat bots allow retailers to connect
with customers and ask what they are searching that leads to an
interactive shopping experience, resulting in sales. As
Millennials are increasingly using chat bots, brands are
designing them to specifically enhance their brand voice and
send personalized messages directly to users.
Snapchat, Instagram and Facebook Stories have led to the
popularity of ephemeral content. With ephemeral content being
more authentic and allowing you to connect with users in real-
time, brands are taking advantage of consumer FOMO to draw
faster buying responses. With Stories, shoppable content allows
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brands to create whole new narrative-driven elements for e-
commerce marketing campaigns that connect with consumers
and capitalizes on a sense of urgency to make a purchase.
WWD: Which brands are merging marketing efforts in physical
and online presences well?
R.G.: Warby Parker allows people to order products online, try
them on at home, and choose the ones they want. They have
also opened small physical locations.
Another example is Amazon, who made a major move last year
in spreading its physical presence with the purchase of Whole
Foods, thereby seeking to reinvent the retail-customer
experience and boosting Amazon’s bricks-and-mortar presence.
Even brands like Walmart and Target are integrating online and
offline so that customers can buy online and pick up in store.
Brands are constantly looking at incentives to drive online sales
while also drawing shoppers to respective physical locations
through discounts on purchases, free or heavily discounted add-
on items, and superior in-store customer service.
WWD: How can brands move the needle from passive social
followers to active spenders?
R.G.: Instagram is an effective platform for building awareness
and deepening engagement with followers. Many retailers have
effectively leveraged the channel to drive performance by
converting followers into active spenders via giveaways,
discount codes, or free downloads.
Another effective strategy is the rise of branded video content.
More brands are making the transition to shoppable video.
Marketers and brands are approaching consumers where they’re
most easily found — on mobile and social media. The result is
greater brand spend on creative storytelling methods across
different channels that engage with consumers as individuals,
not as a homogenous demographics.
WWD: How do you predict the collision of social media and
retail to evolve in the next 12-24 months?
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3/22/2018 Social Media’s Evolving Role in Retail: Commerce, Product Testing – WWD
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R.G.: Influencer marketing will continue to grow and consumers
want authenticity and advice from real experts whom they trust
and value. Brands will focus on building meaningful, long-term
relationships with key influencer partners and leverage the
channel to drive performance. Video will continue to be an
effective tool for growing followers and driving sales. High-
quality content and storytelling is a must-have.
Retailers will look to create high-quality content to understand
consumers’ mind-sets, and keep them engaged and informed
about products. Augmented reality will help retailers to project
their products into consumers’ homes to preview how they look
before they buy.
More from WWD:
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2018
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