Social Shopping - Converting Conversations to Commerce
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Transcript of Social Shopping - Converting Conversations to Commerce
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Social ShoppingConverting Conversations to Commerce
Andrew Gerrard
22nd November 2010@andrewgerrard
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I’m sure we’ll be able to successfully market your product, Mr. Ferguson. I’ve got one of my best
liars working on it right now.”Charlos Gary, 2005
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“...social context to the shopping experience.” (Food and drink manufacturer)
“...earning the right to offer them the opportunity to buy something.”
(Mass merchant retailer)
“...drive true relationship-based sales.” (Pharmaceutical manufacturer)
“It is a new way to manage the long tail of the value chain. Product selection by the people for the people.”
(Clothing retailer)
What is Social Commerce?
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Social Commerce is… a transformation
“Just as e-commerce transformed retail, social media transforms e-commerceby changing people’s expectations.”
Mitch Joel - April 21, 2010 - Social Commerce Summit
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“Social” UGC SocialMarketing
“Commerce” ROI
Social commerce is about customers having the means to interact with one another in
order to make better buying decisions.
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“Technology can only ever serve as a bridge,
never as a destination.” Lord Puttnam, IAB Engage, 2005
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Old rules?
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New Model
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Mass Audiences
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Customer Segmentation
Market Fragmentation
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Commercial realities still apply
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1. Product2. Price3. Promotion4. Placement
5. People
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“My network”
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But - only 6% trust customer reviews. Source: the e-tailing group, May 2010
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“On a brighter note, sir, 3 percent of our customers said they like our products.”
Charlos Gary, 2008
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People powered R&D
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Price driving engagement
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Group power
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Multi-channel
Social connection
& conversion
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Using Geo-location to drive footfall & in-store sales
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“Does my bum look big in this?”
Instant Social Interaction
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How much is a “Like” worth?
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The social shopping experience
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Social Commerce Framework• Goals• Community• Content
– Create and deliver quality, timely, relevant content
• Engage them– Give your community things to do on your
behalf• Empower them to take ownership• Be prepared to “let go” (...just a little)
• Share success
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“I’m not going to kid you, it’s a volatile market.”
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Thank youhttp://www.slideshare.net/agerrard
Andrew Gerrard
22nd November 2010@andrewgerrard