Social commerce should take place at your site
Aug 25, 2011
Retailers need to focus harnessing the power of the social graph. Right now, that means bringing Facebook to your online store (where everyone is there to shop) more than bringing your store to Facebook (where not everyone is shopping).
Sharing products and purchases between friends serves as a heavy enabler for making purchases online. According to The New York Times, 90 percent of online shoppers trust recommendations from people they know, and 87 percent spend more dollars online after seeing recommendations. Think about it: If a friend raves about a great deal, you're much more likely to check it out.
And while marketers have been trying to answer the "social media return on investment" question for quite some time, social commerce initiatives have very clear returns. As we all know, it's not only the final transaction that counts, but the conversations that lead someone to that virtual checkout counter that make the difference.
This is great news because people are sharing products online more than ever. According to eMarketer, 73 percent of U.S. companies in 2010 reported that they see social media as a powerful marketing tool for creating a dialogue between them and their customers.
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