Post on 17-May-2015
description
Social Shopping: Friends Don’t Let Friends Buy Alone
Veronika Sonsev, CEO of inSparq
Marketing landscape has changed
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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
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 a product recommended 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%
So how do you get started?
Sharing Widget & Tell-a-Friend
User Reviews
Loyalty Programs
Social Media Sweepstakes
Your social commerce toolbox
18Fully integrated with the social media avenues customers most!
Tool #1: Your Sharing Widget
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
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’
User Reviews Results
200% in conversion among customers who engage with reviews
300% in revenue per visitor
250% in average order value
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
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
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
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
Empower your customers…
…and see your business grow! It’s that simple.
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Thank You!