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Webinar based on research by Altimeter Group's Lora Cecere (Supply Chain Management, eCommerce, Social Commerce) and Jeremiah Owyang (Customer Strategy)
Citation preview
Rise of Social Commerce#rscwebinar
February 3, 2010
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Lora Cecere and Jeremiah OwyangAltimeter Group
© 2011 Altimeter Group
Read the report2
Rise of Social CommerceA Trail Guide for the Social Commerce Pioneer
Published November 1, 1010
Download at: slideshare.net/loracecere
© 2011 Altimeter Group
Qualitative: 54 interviews of social pioneers
Quantitative: 123 respondents from retail and consumer products
In vitro: 145 conference attendees
Our methodology3
© 2011 Altimeter Group
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“Social Commerce provides social context to the shopping experience. It is not B2C.”
“Social commerce is in development. It is less about cool widgets and more about the power of the digital relationship.”
“Engaging on topics that are important and earning the right to offer them the opportunity to buy. Earning attention and capturing intention to deliver a personalized response. “
“It is a new way to manage the long tail of the value chain. Product selection by the people for the people.”
What is Social Commerce?
© 2011 Altimeter Group
“The use of Social Technologies to anticipate, personalize and energize the
shopping experience.”
It is both a channel and a new way of doing business.
Our belief5
© 2011 Altimeter Group
The Potential of the Open Graph
Source: Gigya
© 2011 Altimeter Group
For Hallmark….8
© 2011 Altimeter Group
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There were many trails west….
© 2011 Altimeter Group
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Dell
Dell’s Key Social Media Milestones
© 2011 Altimeter Group
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The Rise of Social Commerce
Stage Goal Questions
Stage 1: Let’s Be Social
Awareness What are the best tactics to use? How do I influence the most influential?
Stage 2: Enlightened Engagement
Dialogue How do I make it easier for the shopper to engage? How do I effectively introduce the shopper to
enterprise processes? How do I use social technologies to improve
dialogue with the value chain?
Stage 3: Store of the Community
P2P How do I use shopper insights? Which shopper input best reflects market
opportunity? How do I engage trading partners to deliver against
the store of the community?
Stage 4: Frictionless Commerce
Redefinition How do I redesign the buying experience? How do I enrich enlightened engagement processes
without slowing buying cycles?
© 2011 Altimeter Group
12
The Rise of Social Commerce
Stage Goal Questions
Stage 1: Let’s Be Social
Awareness What are the best tactics to use? How do I influence the most influential?
Stage 2: Enlightened Engagement
Dialogue How do I make it easier for the shopper to engage? How do I effectively introduce the shopper to
enterprise processes? How do I use social technologies to improve
dialogue with the value chain?
Stage 3: Store of the Community
P2P How do I use shopper insights? Which shopper input best reflects market
opportunity? How do I engage trading partners to deliver against
the store of the community?
Stage 4: Frictionless Commerce
Redefinition How do I redesign the buying experience? How do I enrich enlightened engagement processes
without slowing buying cycles?
© 2011 Altimeter Group
13
Fans like You! Amazon partners with Facebook to show customers what their friends have bought
© 2011 Altimeter Group
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Brands post frequently, but few engage in two-way dialog
Source: “The 8 Success Criteria of Facebook Page Marketing,” Altimeter Group, 2010
Altimeter Group rated 30 top brands on 8 success criteria for Facebook fan page marketing.
© 2011 Altimeter Group
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Strategists want to have dialog, but not support
Source: “How Corporations Should Spend on Social Business,” Altimeter Group, 2011
We asked 140 corporate Social Strategists what their top external (go-to-market) objectives are in 2011.
© 2011 Altimeter Group
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The Rise of Social Commerce
Stage Goal Questions
Stage 1: Let’s Be Social
Awareness What are the best tactics to use? How do I influence the most influential?
Stage 2: Enlightened Engagement
Dialogue How do I make it easier for the shopper to engage? How do I effectively introduce the shopper to
enterprise processes? How do I use social technologies to improve
dialogue with the value chain?
Stage 3: Store of the Community
P2P How do I use shopper insights? Which shopper input best reflects market
opportunity? How do I engage trading partners to deliver against
the store of the community?
Stage 4: Frictionless Commerce
Redefinition How do I redesign the buying experience? How do I enrich enlightened engagement processes
without slowing buying cycles?
© 2011 Altimeter Group
Organize for social business
© 2011 Altimeter Group
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- One department controls all efforts- Consistent- May not be as authentic- e.g. Ford
CENTRALIZED
© 2011 Altimeter Group
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ORGANIC
- Organic growth- Authentic- Experimental- Not coordinated- e.g. Sun
© 2011 Altimeter Group
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COORDINATED
- One hub sets rules and procedures- Business units undertake own efforts- Spreads widely around the org- Takes time- e.g. Red Cross
© 2011 Altimeter Group
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MULTIPLE HUB AND SPOKE OR “DANEDELION”
- Similar to Coordinated but across multiple brands and units
- e.g. HP
© 2011 Altimeter Group
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HOLISTIC OR “HONEYCOMB”
- Each employee is empowered- Unlike Organic, employees are organized- e.g. Dell, Zappos ©
© 2011 Altimeter Group
Customers Like products on Levi’s pages
© 2011 Altimeter Group
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Levi’s auto-populates a shopping cart based on friends’ Likes
© 2011 Altimeter Group
Review aggregation: Pros, cons and best uses
© 2011 Altimeter Group
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Listening and learning in new product launch: Produce Saver Response
#Future15SB @bwdumars
© 2011 Altimeter Group
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Listening and learning in new product launch: Produce Saver Response
#Future15SB @bwdumars
© 2011 Altimeter Group
29
The Rise of Social Commerce
Stage Goal Questions
Stage 1: Let’s Be Social
Awareness What are the best tactics to use? How do I influence the most influential?
Stage 2: Enlightened Engagement
Dialogue How do I make it easier for the shopper to engage? How do I effectively introduce the shopper to
enterprise processes? How do I use social technologies to improve
dialogue with the value chain?
Stage 3: Store of the Community
P2P How do I use shopper insights? Which shopper input best reflects market
opportunity? How do I engage trading partners to deliver against
the store of the community?
Stage 4: Frictionless Commerce
Redefinition How do I redesign the buying experience? How do I enrich enlightened engagement processes
without slowing buying cycles?
© 2011 Altimeter Group
Diapers.com: Conversation precedes Commerce
Your baby becomes the social face of Diapers.com
Questions, suggestions and humor around being a parent
Twitter parties
Mommy clubs
© 2011 Altimeter Group
Diapers.com: Conversation precedes Commerce
75% orders from repeat customers
45-day return metric
50% of Facebook users are engaged
for an hour/day
© 2011 Altimeter Group
Dove: Launches Facebook Store in 201132
• 32 Brands• Engaged Consumers• Less Channel Tension
with Retailers than eCommerce
© 2011 Altimeter Group
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Customers choose which designs get created in ModCloth’s Be The Buyer Program
© 2011 Altimeter Group
Wet Seal: Social Strategy
Social Network Engagement Cross Channel Mobile
User Generated Content
© 2011 Altimeter Group
Facebook Virtual Runway – Dec 2009
App Generates3X CustomerFan News Feed PostsThan from Fan PageInteraction
© 2011 Altimeter Group
Shop with Friends – Dec 2009
© 2011 Altimeter Group
Wet Seal Social Network Game – August 2010
© 2011 Altimeter Group
Cross Channel Mobile – Oct 2009
Outfit Views500K+ per week
© 2011 Altimeter Group
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The Rise of Social Commerce
Stage Goal Questions
Stage 1: Let’s Be Social
Awareness What are the best tactics to use? How do I influence the most influential?
Stage 2: Enlightened Engagement
Dialogue How do I make it easier for the shopper to engage? How do I effectively introduce the shopper to
enterprise processes? How do I use social technologies to improve
dialogue with the value chain?
Stage 3: Store of the Community
P2P How do I use shopper insights? Which shopper input best reflects market
opportunity? How do I engage trading partners to deliver against
the store of the community?
Stage 4: Frictionless Commerce
Redefinition How do I redesign the buying experience? How do I enrich enlightened engagement processes
without slowing buying cycles?
© 2011 Altimeter Group
Delta
© 2011 Altimeter Group
Other ideas:
Groups
International
Facebook rewards
Leverage partnerships
Rethinking Travel
© 2011 Altimeter Group
Universal ID
Intersection of Interest and Social Graphs
Like Button tied to Open Innovation Networks
2-D Barcodes
Social Search
Virtual Currency
Trends we are following44
© 2011 Altimeter Group
We don’t know what “west” looks like
Find a Scout: Customer advocate to help navigate the trail
Lighten your load as you go….
Preparing for the journey45
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Jeremiah [email protected]
web-strategist.com/blog
Twitter: jowyang
THANK YOU
Lora [email protected]
supplychainshaman.com
Twitter: lcecere
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Altimeter Group is a research-based advisory firm that
helps companies and industries leverage disruption to
their advantage. We have four areas of focus:
Leadership and Management, Customer Strategy,
Enterprise Strategy, and Innovation and Design.
Visit us at http://www.altimetergroup.com or contact
ABOUT US