Posts Tagged: social media
Facebook Commerce: Marketplace or Just Referral Source? – Retail Spokes Blog
Lately, there has been a lot of talk about Facebook’s eCommerce efforts. Many believe it is the next big thing in eCommerce. According to IDC, in three to five years, 10 to 15 percent of total consumer spending in developed countries may go through sites such as Facebook. I agree that some consumer spending will go through social networks, but these numbers along with predictions by many others are somewhat inflated. Facebook’s initiatives like Open Graph, Like button, Facebook Credits and partnerships with retailers indicate a push towards making its platform more conducive for eCommerce transactions. But, it will take years before physical product sales become mainstream on Facebook.
What can really work in near future is Facebook as a referral platform. The real value for anyone trying to leverage Facebook comes from heaps of social data that the platform owns. But, collecting data is one thing and putting it to use is another. It will take a while before Facebook itself can effectively mine and use this social data, let alone its partner being able to make good use of it. Currently, when making a buying decision outside of Facebook, this data rarely helps. This is due to the fact that at a user level limited amount of product recommendations can be derived via Facebook APIs, and anything outside user’s immediate social graph very quickly becomes vague. But, if Facebook itself were to launch a product recommendation engine (or such), they would have huge amount of data to analyze and tremendous targeting opportunities.
The New Shopper – Informed, Connected And Demanding! – Retail Spokes Blog
It is amazing how Apple rules over its consumer’s mindsets. They pre-sell millions of products and even get away with shortcomings (think iPhone 4 signal issues) without hurting their fan base. Only Steve Jobs has the ability to instruct his consumers to stop holding the phone ‘the wrong way!’ But, Apple fanatics are a rare breed providing such leeway to a seller. In the times that we live in, it is difficult even to get shoppers’ attention. To think of commanding what, where, when and how they buy is like daydreaming. Shoppers today have complete control and they have tools at their disposal that facilitate this authority.
So, what has lead to this shopper authority? Internet and other digital mediums have essentially changed the way we shop. The effect of internet shopping is far greater than the dollar value of online sales transactions. It is the influence on offline shopping where online produces a much bigger impact. Let’s list down some of things that have changed shoppers’ attitude and in effect transformed the retail landscape.
Building a Loyal Brand Following – a New Focus For Online Retailers – Retail Spokes Blog
If there is one thing to be learned from Amazon’s dominance in eCommerce, it is the importance of building a brand. It is phenomenal that 33% of all shoppers visit Amazon for research, according to a recent study by e-tailing group and PowerReviews. Although, it is apparent that Amazon does not provide best product choices or shopping experience for many product segments. Nonetheless, their ability to attract direct traffic is unmatched. This is where most eCommerce sites need to become better in that they have to build loyal customer bases.
Facebook – Pro-User Claims and Reality – Retail Spokes Blog
When Facebook executives talk about user privacy issues and control over content, it is apparent that user’s interests are their top priority. But, it turns out their actions are nowhere near public statements that they make. After massively faltering with Beacon, it seems Facebook has learned the art of deception. They have learned that an average user wouldn’t care about their practices as long as they can avoid negative buzz. They effectively do this by consistently claiming they are pro-user. An average Facebook user is sold on those ‘void’ claims.
I would highlight 3 changes that are already in effect, or are in the pipeline that show Facebook’s actual intentions:
via Facebook – Pro-User Claims and Reality | Retail Spokes – Online Retail Focused Content Solutions.
Top 5 Facebook Pages Series (Brands) – Retail Spokes Blog
Along with good design and layout, it is important for brand pages to have great content that drives conversations and social interactions. Unlike retailers, most brands do not offer any coupons or promotions making it even more important to have quality content. I have come across hundreds of Facebook pages, but these 5 brands stand out for excellent design, engaging content, and social features that draw millions of Likes.
via Top 5 Facebook Pages Series – Brands | Retail Spokes – Online Retail Focused Content Solutions.
Top 5 Facebook Pages Series (Retailers) – Retail Spokes Blog
There is no denying the fact that social media has quickly become a top priority for most marketers. According to eMarketer, four in five US businesses with at least 100 employees will take part in social media marketing in 2011. According to the same report, social media ranked third among areas marketers planned to focus their online marketing budget in 2011, after search and their own website.
As the stakes get higher, it has become increasingly important to effectively measure ROI. But, social media ROI measurement is still in its infancy. Very few marketers are successful in determining the true ROI from this channel. But, regardless of ROI conundrum, no marketer can afford to sit on the fence and wait until it’s too late. You have to get your feet wet and understand how this channel works. This takes time and there is no silver bullet that will make your social media campaigns successful overnight. Your social marketing needs and objectives are unique and they require a custom approach that can only be developed over a period of time.
via Top 5 Facebook Pages Series – Retailers | Retail Spokes – Online Retail Focused Content Solutions.
Facebook eCommerce Solutions – Retail Spokes Blog
In the retail world, there is a lot of hype about Facebook integration. Social media marketing, in general, has become an essential component of the marketing mix for most eCommerce marketers. But, are there any good Facebook eCommerce solutions available to serve that need? I was asked this question by a friend who runs a small eCommerce operation selling musical instruments. I thought I’ll provide a list of solutions I’ve recently come across in this blog. These are listed in no specific order.
via Facebook eCommerce Solutions | Retail Spokes – Online Retail Focused Content Solutions.