Social commerce the opportunity for brands

Social Commerce

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The Opportunity for Brands

Dr Paul MarsdenSocial Media StrategistSyzygy Group

p.marsden@syzygy.net

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Social Commerce

WHATSO WHAT

WHAT NOW

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Social Commerce

WHATSO WHAT

WHAT NOW

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Social Commerce

“Selling with Social Media”

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Social Commerce

“Selling with Social Media”

Social commerce: Subset of electronic commerce that involves using social media* to assist in the online buying and selling of products and services.

* online media that supports social interaction and user contributions,

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What: “Social commerce is the concept of word of mouth applied to e-commerce”

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What: Two Kinds of Social Commerce1) social media on e-commerce platforms

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What: Two Kinds of Social Commerce2) e-commerce on social media platforms

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What: Six Basic Toolsets

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1. Ratings & Reviews

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2. Social Shopping

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3. Referrals & Recommendations

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4. Forums & Communities

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5. Social Media Optimization

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6. Social Ads & Apps

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Social Commerce

WHATSO WHAT

WHAT NOW

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Social Commerce

WHATSO WHAT

WHAT NOW

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So What:1) Monetize your social media investment

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So What:2) Solve your problem of social media ROI

conversations

don’t ring cash

registers

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So What:2) Solve your problem of social media ROI

conversations

don’t ring cash

registers

ROI = Money in - Money Out

i.e. it’s a business metric

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So What:3) Gather market insight

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So What:4) Boost e-commerce sales (traffic, conversion, order value)

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So What:5) Improve customer loyalty by enhancing user experience

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So What:6) Activate word of mouth (referral) value

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So What:7) Differentiate yourself from the competition

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Social Commerce

WHATSO WHAT

WHAT NOW

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Social Commerce

WHATSO WHAT

WHAT NOW

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What Now? There is no rule book - you get to create the future!

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What Now? Not rocket science: Social commerce is about people not technology

We♥ Social

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What Now?Deploy the LEAD strategy

ListenExperimentApplyDevelop

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LISTEN - social media monitoring and competitor monitoring - how are others using social commerce?

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EXPERIMENT trial a number of low cost/effort pilot tests. Create ROI models

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APPLY learnings with a creative solution based on what works and that fits your digital strategy

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DEVELOP constantly evolve to beat user expectations - deliver “joy of use” with new insights and technology

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“It’s not the strongest that survives. Nor the most intelligent. It’s the one most adaptable to change”

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Thanks!

http://www.socialcommercetoday.comhttp://syzygy.net

For copies: p.marsden@syzygy.net