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Page 1: Social Shopping: Friends Don't Let Friends Buy Alone

Social Shopping: Friends Don’t Let Friends Buy Alone

Veronika Sonsev, CEO of inSparq

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Marketing landscape has changed

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So what should you do?

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Go social!

Cost effective marketing

Engages your most loyal customers

Delivers immediate results

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Fab.com Success Story

~ 15% of Fab’s daily traffic comes from Facebook

~ 5% comes from sites like Twitter and Pinterest

Source: WSJ. February 2012

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Eventbrite Success Story

Every link shared on Facebook generates $2.52 in ticket sales

Facebook sends more traffic than any other source, including Google

Tech Crunch October 2010

Source: TechCrunch. October 2010

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Research confirms social works

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23% of shoppers share over half the time

23%

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Even more want to share

“83% of online shoppers say they want to share information about their purchases”

Source: Digital Buzz, March 2010

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They share because they think their friends would like it

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94% bought a product recommended last year

94%

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Customers are 71% more likely to purchase a product if referred by a social media channel

Organically customers are only 7% likely to purchase a productSource: Hubspot, January 2010

Recommendations increase likelihood to buy

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“Word of mouth

is the ‘primary

factor’ behind

between 20%

and 50% of

purchases”

Source: McKinsey, April 2010

Word of mouth drives sales

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64% would share more if they were incentivized to do so

The Power of Social Referrals

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Top rewards that motivate

#1 Cash Back – 84%

#2 Discounts – 72%

#3 Free Shipping – 65%

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So how do you get started?

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Sharing Widget & Tell-a-Friend

User Reviews

Loyalty Programs

Social Media Sweepstakes

Your social commerce toolbox

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18Fully integrated with the social media avenues customers most!

Tool #1: Your Sharing Widget

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Sharing Widget Results

300% uplift in shares

Over 50% CTR on shares

Built database of top 5% most influential customers

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Goal: newsletter sign ups

Action: created a contest to spread the word

Tell-a-Friend Product

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Tool #2: User Reviews

The Stats: 70% of Americans say they look at reviews before taking the next step to conversion

The Action:Bazaarvoice installed reviews on the website and deemed loyal reviewers as ‘Black Book Insiders’

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User Reviews Results

200% in conversion among customers who engage with reviews

300% in revenue per visitor

250% in average order value

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Tool #3: Loyalty Programs

The Thwipster Loyalty Program:

Thwipster incentivized behaviors that would lead to increase traffic, email acquisition and sales

Customers could trade points for:

• discounts• free shipping • $ off orders

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Loyalty Program Results

Increase traffic 60% M/M

45% of email subscriptions convert to loyalty program

Loyalty members viewed pages 16X more than non-rewarded users

50% buy every month

Like, Tweet, +1 2000X more Source: Punchtab, 3 months

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Tool #4: Social Media Sweepstakes

The Contest: ‘Instant-win’ coupon promotion to engage fans and attract more users

The Action:• Instant-win promotion

on their Facebook Fan Page

• Users needed to become a fan in order to redeem their instant-win coupon

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Social Media Sweepstakes Results

21% coupon redemption

4,000 new Facebook fans

Generated $30,000 in revenue

250% ROI net of all campaign and marketing costs

Source: Hautelook, 7 days

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Empower your customers…

…and see your business grow! It’s that simple.

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Thank You!


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