Editors of Social Commerce Today, Paul Marsden and Paul Chaney share top insights from their forthcoming book The Social Commerce Handbook: 20 Secrets for Turning Social Media into Social Sales. Learn how big brands and smart businesses are making social media pay.
This presentation covers a variety of topics:
- Information on how social outlets can be used as an e-commerce tool.
- Tips and tricks on how to do social commerce right.
- Practical principles to help you unlock the sales potential of social media.
Presentation created by Paul Marsden and Paul Chaney.
Social Commerce: Secrets for Turning Social Media into Social Sales
1. How to Turn
Social Media
into Social
Sales
Paul Marsden & Paul Chaney
Social Commerce Today
2. Dr. Paul Marsden: Consumer psychologist and
market researcher focusing on digital
innovation, social media and e-commerce
Paul Chaney: Social media, social commerce and
Internet marketing consultant, speaker, trainer and
author known as The Social Media Handyman
Hello! We‟re the Two Pauls...
3. Sharing six insights for turning social media into social
sales from our latest book...
4. “IF I HAD TO GUESS
SOCIAL COMMERCE
IS THE NEXT AREA TO
REALLY BLOW UP”
MARK ZUCKERBERG
...from the new field of „social commerce‟ - helping people
share where they shop and shop where they share
5. SOCIAL COMMERCE
HELPING PEOPLE SHARE HELPING PEOPLE SHOP
WHERE THEY SHOP “IF I HAD TO GUESS
WHERE THEY SHARE
SOCIAL COMMERCE
IS THE NEXT AREA
TO REALLY BLOW
UP”
MARK ZUCKERBERG
SOCIAL APPS FOR E-COMMERCE SITES E-COMMERCE APPS FOR SOCIAL SITES
$30BN MARKET
Source Booz & Co (2011) “Turning Like to Buy”
6. SOCIAL COMMERCE
“IF I HAD TO GUESS
WHY? SOCIAL COMMERCE
IS THE NEXT AREA
TO REALLY BLOW
UP”
1) IT‟S WHAT YOUR CUSTOMERS WANT
MARK ZUCKERBERG
2) IT‟S WHAT YOU NEED (BETTER ROI)
3) IT‟S GOOD CUSTOMER ECONOMICS
8. WHAT CONSUMERS WHAT BUSINESS THINKS
WANT CONSUMERS WANT
DEALS NEW PRODUCT INFO
PURCHASE GENERAL INFO
READ USER REVIEWS SHARE OPINION
GENERAL INFO EXCLUSIVE INFO
EXCLUSIVE INFO READ USER REVIEWS
NEW PRODUCT INFO FEEL CONNECTED
SHARE OPINION CUSTOMER SERVICE
CUSTOMER SERVICE SUBMIT PRODUCT IDEAS
PARTICIPATE IN EVENTS BE PART OF A COMMUNITY
FEEL CONNECTED PARTICIPATE IN EVENTS
SUBMIT PRODUCT IDEAS PURCHASE
BE PART OF A COMMUNITY DEALS
Source IBM (2011) From Social Media to Social CRM
1) Social commerce is what your customers want...
9. the black hole of
social media
$
$
$
$
$ $$
$ $
$
2) Social commerce is what you need (ROI)
10. 1
Word of
$1927 Mouth Value
Total Customer Value
$2446 Sales
Value $4373
3) Social commerce is good customer economics
11. 1
SOCIAL COMMERCE
“IF I HAD TO GUESS
HOW? SOCIAL COMMERCE
IS THE NEXT AREA
TO REALLY BLOW
UP”
MARK ZUCKERBERG
1)... 4)...
2)... 5)...
3)... 6)...
16. 1
SOCIAL INTELLIGENCE
“A wise man learns from the experience of
others, a fool by his own”
Secret 1: help people solve problems socially by helping
them solve problems together; with their social intelligence
17. 1
A second secret is to help people solve a core „social
problem‟ - that of „social status‟...
18. 1
Secret 2: Help solve problems of „social status‟ with early
access (and bragging rights) to new products...
19. 1
A third secret is to help people solve another core social
problem - that of „social bonding‟...
20. 2
Secret 3: Solve peoples problems of social bonding with
with social gifts and gifting
21. 2
Helping people
solve problems
socially
Helping people
solve social
problems
In sum, smart businesses are using social commerce to
deliver „social utility‟
22. 2
SOCIAL UTILITY
using social media to help people solve
problems socially and solve social problems
social social social
intelligence status bonding
$$$$$$ SOCIAL SALES $$$$$$
So here‟s the big secret to selling with social media: Offer a
social shopping service that has genuine social utility
23. 2
“In a word, social commerce is about discovery.”
Christian Taylor, Founder, Payvment
Secret 4: Social commerce is not just about “buying” aspect
of social media, but the “discovery” component as well
24. 2
Social shopping sites are designed for browsing and
sharing as much as they are for searching and transacting