Social Commerce Best Practices: Prescribing the Right Plan for Your Business

Social Commerce Best Practices: Prescribing the Right Plan for Your Business

Veronika Sonsev, CEO of inSparq

Marketing landscape has changed

2

So what should you do?

Go social!

Cost effective marketing

Engages your most loyal customers

Delivers immediate results

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

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

Research confirms social works

Billions share the world over

Everyday people share:

4 billion things on Facebook

200 million things on Twitter

1 billion things on Google+ Source: TechCrunch, July 2011

23% of shoppers share over half the time

23%

Even more want to share

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

Source: Digital Buzz, March 2010

They share because they think their friends would like it

94% bought what friends recommend last year

94%

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

“Word of mouth

is the ‘primary

factor’ behind

between 20%

and 50% of

purchases”

Source: McKinsey, April 2010

Word of mouth drives sales

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

The Power of Social Referrals

Top rewards that motivate

#1 Cash Back – 84%

#2 Discounts – 72%

#3 Free Shipping – 65%

Source: inSparq, April 2012

So how do you get started?

SCA was designed to help!

10-week program designed to drive

measurable sales lift through social

commerce

Webinars to deliver curriculum of best

practices

Participants receive the free software,

services and support

Goal: build a self-sustaining social action

plan customized for your business.

What the Accelerator will offer:

1. Three Social Commerce Health Assessments

2. SCA Webinar Series every Wednesday at 3pm

from May 16th – July 11th

3. One-on-One consulting with participating

companies

Benefits to participants

It starts with sharing

Fully integrated with the social media avenues customers most!

Tool #1: sharing widget

Sharing widget results

300% uplift in shares

Over 50% CTR on shares

Built DB of 10% most influential customers

Goal: newsletter sign ups

Action: created a contest to spread the word

Tool #2: tell-a-friend

Tell-a-friend results

Participants generated over 2 visits on average

17% of shares resulted in sign up

Most used channels were: FB, referral link, email then Pinterest (nobody Tweeted)

inSparq demo

inSparq Widget

Sharing & results by channel

SHARES SALES

Facebook

Pinterest

Email

Twitter

Facebook

Pinterest

Twitter

Email

Sharing best practices

1. Incentivize social actions

2. Incentivize multiple actors

3. Keep your offer/campaign simple

4. Always test offers/campaigns

5. Rally your customers around a contest/

sweepstakes

Best practices: Facebook Encourage customers to

share; start with a Like on your home page

Give shoppers option of both posting on their timeline or via direct message

Make sure the image is relevant to the product (not your company logo)

Keep copy simple: customers will include personalized messages to friends

Best practices: Pinterest

Hold a contests (e.g., Pin it and Win It) to encourage customers to pin

Use Pinterest friendly images Use suggested text: “This is

one of my favorites..." or "I love this…”

Including $ amount:– DO include in company

pinboards – gets into Gifts– DON’T include with

product sharing – hurts virality

Sources: Mashable, 2012; Search Engine Watch, 2012; Acappella's Digital Treats, 2012

Best practices: email

Have message come from friend or put friend’s name in subject

Address the recipient in the email

Allow sender to customize email copy

Make email look like it came from the friend – don’t use a graphical/newsletter templates

Best practices: Twitter

Include your @twitterhandle in the message copy

Experiment with different action words: Check this out, Look at this, What do you think?

Test both the product name (“Check out this ‘Cleopatra bib’”) and general category name (“Check out this necklace!”)

Empower your customers…

…to engage their networks and help you grow sales!

Getting started is easy

inSparq takes less than 10 minutes to install

Single integration for sharing and analytics

with the most important social channels:

Facebook, Twitter, Pinterest, SMS, email, etc.

Apps available for websites built on Magento

and Shopify

Hands on support from inSparq team!

But, wait there is more!

Week 1: SCA Health Assessment

Week 2: Sharing Widget & Tell-a-Friend

Showcase: Veronika Sonsev, CEO

Week 3: Personalizing Web & Email

Showcase: Michael Hershfield, VP Strategic Partnerships

Industry Expert: Cassie Lancellotti-Young: Former VP of Marketing at

Savored

Week 4: Metrics and ROI

Jake Stein, Co-Founder

SCA schedule

Week 5: Second Social Commerce Health Assessment

Week 6: Social Media Marketing

Showcase: Mairead Ridge, Marketing Manager

Industry Expert: Christian Moya: Producer

(formerly VP of Product )

Week 7: Customer Insights

Showcase: Jamie Ryan, Operations Specialist

Showcase: Peter Bordes

SCA schedule

Week 8: Deals & Flash Sales

Showcase: Mike Wilson

Showcase: Veronika Sonsev, CEO

Week 9: User Reviews & Loyalty Programs

Showcase: Nadim Hossain, VP Marketing

Industry Expert: Tara Hunt, CEO

Week 10: Final Social Commerce Health Assessment

SCA schedule

Thank You!