At Social Media Week Like Minds Immersive By Markus Karlsson CEO | Founder of Comrz Social Commerce Platforms
Oct 18, 2014
At Social Media Week
Like Minds Immersive
By Markus Karlsson
CEO | Founder of Comrz
Social Commerce Platforms
CEO | Founder of ComrzMakes the Affino Social Commerce Platform
ExperiencePreviously worked on projects for Audi, Casio, UBM, UKTV, Diesel and
100s more
Current FocusPublishers, Media Companies, Retailers, Commercial Communities
i.e. The Early Adopters
Intro
Advanced Social Commerce
E-commerce Platform
Social Media Hub
Full E-business Suite
Sales and Marketing Automation
SaaS Service
Affino – Social Commerce Suite
Highest Customer Satisfaction = Highest Revenues
1% Increase in Online Satisfaction = 15% Sales Increase
Biggest Players build own platforms
Smaller Competitors falling behind
Social Commerce Sites and Services proliferating
Social Commerce Platforms will close the gap
E-Commerce Market
"If I had to guess, Social Commerce is the next area to really
blow up." Mark Zuckerberg
Like will increasingly lead to Buy
E-commerce is over – Long live Social Commerce - Wired
Cover Headline Feb 2011
Social Commerce will go from being a supplement to E-
commerce to being at the heart of E-commerce
Social Commerce Future
Each Share Generates$2.52 ticketing sales
11 visits
Eventbrite - Case
FlutterScape – Social Sourcing
Using Social Commerce Sites
Adding Social Apps
Enabling E-commerce on Social Media
Automation through Social Commerce Platforms
Social Commerce Involves
Comments, Ratings and ReviewsBazaar Voice
Customer SupportFacebook, Twitter
F-commerceFacebook
Flash SalesVente Privée
Group BuyingGroupon
Personal Shopper (Second Opinion)GoTryItOn
Social Commerce Types
Purchase-SharingBlippy, Swipely
Social Commerce PlatformsAffino, KickApps
Social SharingFacebook, Twitter
Social Shopping (Social Discovery)Kaboodle, Lockerz
Social Shopping Apps (Rewards)ShopKick
Social SourcingFlutterScape
and more …
Social CommerceRetail Social Layer
Solutions Providers
Social Commerce v Social Shopping
Social ShoppingShopping with Social Tools
Consumers
Early DaysOnly 4% of UK's top 100 Retailers have commerce on fan pages (One-
iota)
Investments approx. $2 Billion$1.1 Billion in Groupon
Market Size for Physical Goods$5 Billion Currently
$30 Billion 2015
Market Size for Digital and Virtual GoodsPotentially Even Bigger
Social Commerce Market
Most SuccessfulAmazon
eBay
RisersGroupon
Living Social
NicheEtsy
Successful Social Commerce Sites
Hottest Social Commerce Sector
Most Investment
Groupon and Living Social (Amazon) Leading the Market
Facebook and Google Developing Own
Microsoft and Yahoo Buying up Second Tier
100s of Localised / Niche Startups
Group Buying
Key to Groupon’s Success
Fastest Growing US Startup in history
Biggest Social Commerce Story
$1.12B Funding Raised
24,972,841 Groupons Sold
$1,072,003,714 Saved
50 million Subscribers
Won TechCrunch Crunchie for best Social Commerce
Groupon Info
Simple InteractionOne deal, one day, one city.
Sense of UrgencyCinderella Story
Energizing CustomersPaying for referrals
FunUpbeat tone, humour (tricky: Superbowl)
FreshNew day new deal
Groupon Strategy
Most current Social Commerce Setups use many
disconnected platforms:CMS / Blog
Ecommerce
Forum Service
Newsletter Service
Social Networks
Specialist commerce e.g. Ticketing
Media Sharing Sites
Social Bookmarker Widgets
Comment and Rating Widgets
Typical Social Commerce Setup Today
Most companies as a result suffer from:Poor Data
Poor Targeting
Poor Integration
Disjointed Campaigns
Lack of Ownership
Manual
Poor Customer Experience
Problems with Scenario
Most Dangerous Scenario
Social Commerce Amplifies your E-commerce RisksCompetitive Spam and Attacks
Competitive Poaching
Fraud
Data (Personal and Credit Card) Theft
Privacy Violations
Personal Data Legislation
PCI Compliance is tougher
Risks
DJ / Artist / Producer - 2 Million followers on My SpaceHow many are active?
How many can be targeted?
What are their demographics?
What are their interests?
How active are they?
How fresh is the data?
Why can't I get the contact data?
Who owns it?
Who's making all the money?
When Social Networks Fail
Social Commerce drives SEO
Provides relevant content
Provides fresh content
Automation through relevant Tweets
Make sure you get the benefits
Incorporate it into SEO strategy
Social Commerce and SEO
Increasingly product discovery and qualifying is happening
online.
Online Retail Word of Mouth (WOM)
Makes WOM Trackable and Measurable
Platform must track from campaign through to conversion
Social Commerce adds scale
Social Commerce and Word of Mouth
The Biggest Mistake is not doing enough
Other mistakes are:Not Regular
Disconnected
Not Personal
Poor Quality
Not Communicating the Obvious
Poor Data Capture
Top Mistakes
What you should look out for in your Social Commerce
PlatformMore and Higher Quality Leads
Improved Profiling and Targeting
Better Customer Service
Higher Customer Satisfaction
Improved Efficiencies
Greater Scale
Social Commerce Platform Deliverables
Steps to take to get Social Commerce moving in our
organisationEvolve from driving Awareness to driving Conversions, Loyalty and
Advocacy
Start using Social Commerce Sites, Experience is Key
Develop a Strategy for Data Capture
Source a Social Commerce Platform to Centralise Management
Run Pilot Projects, Track Results, Evolve Quickly
Incorporate into Multi-channel Strategy
Imperatives