Making the Most of Social Commerce Table of Contents Table of Contents.......................................................................................................................................... 01 Introduction to Social Commerce.................................................................................................................. 02 What Is It about Social Media?......................................................................................................................03 Using Social Media to Sell.............................................................................................................................04 Problems with Social Media Marketing..........................................................................................................06 Custom Social Media Services from i95Dev..................................................................................................06 Why i95Dev....................................................................................................................................................07 01 Introduction to Social customers, they can also sell using Focal Points Commerce social media, which is a very excit- ing addition to social commerce and Social commerce is the newest Social media is a truly makes it a part of the ecom- addition to ecommerce; because of medium that has merce world. the abilities that social networking taken the Internet has been taking over the world. market by storm. Retailers are now starting to recog- Social Commerce Benefits Within less than a nize the value of social media and for Retailers how getting involved with social There are a few things that retailers decade, sites like media and social commerce can do not realize social commerce can Facebook, Twitter, help market their business. It is do for them like marketing, interact- Pinterest, and for- making or breaking businesses and ing, and selling their products on merly MySpace, have their ability to get new customers, social media. It’s hard to imagine especially since the Internet is now how social media has turned into had billions of users, a vast space being filled with something that retailers can use but most of whom are millions of web stores and hundreds look at websites like Groupon and active on their of millions of people on specific Living Social. Those websites are networks. It is a retailer’s dream to exclusively for purchasing things, accounts on a daily be able to reach a large group of which is a great way for retailers to basis. With all that people for a minimal amount of get involved in social media by exposure, it’s no money, and it is here. providing products for those types surprise that compa- of sites. Social commerce was not like the nies are learning to typical type of practice where it It is a very overwhelming process, profit from these took years to be accepted; it was but for retailers, it is worth all of the interactions. After all, truly an explosion. The art of “word hassle they have to go through of mouth” has turned into some- because of how much more profit a what other medium thing truly innovative and almost retailer can get from using social can allow users to alive. The ability to tell people commerce to their advantage. interact with friends about your product has shifted. Retailers have been using their and family when it’s Now retailers can reach unlimited websites to sell their products for as numbers of people each and every long as the Internet has been convenient for them? day through social media, but the around, but now that the world has Websites, product trick is to learn how to use social accepted and devoted their time to info, or just pleasant- media adequately to their advan- social media, it is time for retailers ries can be tage. If retailers do not use social to take advantage of that. There is commerce accurately, it can back- room to grow. Only 8 percent of exchanged – all when fire or worse, do nothing. purchases made in the US were and where users made online. That means that want to interact. It used to be that bad advertising ecommerce is nowhere near its was better than no advertising, but maximum growth potential. now with social commerce, that is not true at all, which is why retailers Not only do social media allow need to pay attention to what they retailers to reach a larger number of put out there about their company people, it also enables them to have and what people are saying about a broader experience on marketing products that come out. Not only and keeps them up to date with can retailers take advantage of what people are looking for through social media for marketing, interact- live feeds, tweets, and so forth. ing, and learning about their Those types of updates are what 02 retailers find invaluable, because can monetize their social media Focal Points customers are constantly looking for investment. transparency from retailers. That’s The possibilities of something retailers need to under- Social media is such a waste of time using social media to stand. for some people, but for retailers sell products are there is no such thing as wasting endless. It is an Not only can retailers benefit from time, especially when money is comments customers make, but coming in. Social media is able to incredible tool that they can also see ratings of items bring in money and solve your retailers should not they are purchasing for their stores. problem of social media ROI, or pass up on. Making Often this can prevent a retailer Return on Investment. Make no from making a bad purchase, mistake, these things take time to an investment does especially if customers are saying work, but when retailers find the not have to be en- they will never buy that product for right company to work with for tirely based on how whatever reason they have. When these types of things, the returns much money you retailers are “friends” with their are amazing. customers on Facebook, they learn spend but also the more about the products that their When customers are looking at time that you spend customers like. Catering to their something and want to buy, they online trying to customers enables them to be will go online to look for that involved in the customer-centric particular product and see if there market your product retailing style that has taken over are any in-depth ratings about that or store. As a retailer, retail. very product. If a retailer does not your time is money. watch those ratings and sell around With all the changes going on, their customer base, they’re going retailers are learning that the old to have an excess of products on way of selling is no longer “good the shelf that customers do not enough,” especially since people are want. That is not the only thing now purchasing online, using social customers are using social media media to talk about things and rate for; they are also talking about their businesses, determine what kind of retailing experience at any given products they will be purchasing, store or website. Gathering market and so forth. insight is a critical step for retailers. What Is It about Social Retailers now have to keep their Media? nose clean in front of customers. The possibilities of using social The best way to learn from mistakes media to sell products are endless. is to watch out for customers that It is an incredible tool that retailers are unhappy and find out why. should not pass up on. Making an Before social media came around, investment does not have to be most people would rather talk entirely based on how much money about a good experience than a bad you spend but also the time that experience at any given store. This you spend online trying to market goes back to the concept of bad your product or store. As a retailer, advertising is better than no adver- your time is money. If you were told tising. Now that Facebook and that it was possible to monetize Twitter are around, they can your social media investment, immediately say something about wouldn’t you do that? Retailers are your store and how terrible the just now discovering that they truly service was. They also evaluate how 03 quickly you respond and fix the especially if they don’t know where Focal Points problem. Not only that, but the to start. retail page you put up on Facebook Before social media can bring traffic back to your site Using Social Media to Sell came around, most and boost ecommerce sales. Yes, retailers are now discovering people would rather the beauty of selling items on social talk about a good If a retailer does not understand media sites. Retailers understand how these social media sites work, that social media is something that experience than a they could be in big trouble, espe- people enjoy using and love, but bad experience at cially since they’re losing out on all then they are told that they can sell any given store. This the chances to share information on social media? What kinds of goes back to the about new products, learn about social media allow you to sell? older products, and so forth. Before There are quite a few ways to sell concept of bad ad- a retailer focuses entirely on selling on social media sites that are pretty vertising is better their products, they should also useful. Before retailers are to think than no advertising. think about giving their customers a about what kind of social media different type of service. One kind Now that Facebook they want to work on, they should of example that any retailer could understand these two types of and Twitter are do is a blog. social commerce: around, they can immediately say One example of a blog that a Social media on ecommerce retailer could write is a how-to blog. platforms, a market where items something about If your retail store is about garden- are sold and also have a way for your store and how ing, focus on different plants, how customers to interact with each terrible the service to plant them, what kind of plants other giving feedback and informa- not to plant in your climate zone, was.