Embed Size (px)
Citation preview
Eric Boggs @ericboggs Founder, CEO Argyle Social
Social Commerce: Fact or Fiction?
Social Commerce Nirvana…
#SocialFresh @ArgyleSocial
Welcome to Farmville
If Zynga can build a $9B business selling virtual livestock, then online retailers must be KILLING it, right?
“The number of transactions we see from our Facebook commerce tabs is
not insigni!cant, but the tabs are more for communicating new
products to our customers.”
IR500 Retailer
“Our Facebook store has had very little impact on our business. We
don’t promote it to our customers because our site provides a much
better shopping experience.”
IR500 Retailer
“Facebook has not made a strong impact on sales, at least according to
our data in GA. Most of our social sales come from from fans clicking on the
links we post, not from transactions on our Facebook storefront.”
IR500 Retailer
So what gives?
#SocialFresh @ArgyleSocial
Let’s get data driven…
• Argyle aggregated social data from the IR 500. • We analyzed 28 publicly available data points for
each retailer, ranging from audience size to marketing practices.
• The data set includes: – Massive retail brands like Starbucks, Levis, & NASCAR. – Niche sites like Golfballs.com. – Really niche sites like PressureWashersDirect.com.
• This is work-in-progress research.
#SocialFresh @ArgyleSocial
Context: Audience Size
0
20
40
60
80
100
120
140
160
180
200
<10k 10k - 100k 100k - .5M .5M - 1M 1M - 2M 2M - 5M 5M - 10M >10M
Num
ber o
f Ret
aile
rs
Audience Size
#SocialFresh @ArgyleSocial
Context: Audience Size
0
20
40
60
80
100
120
140
160
180
200
<10k 10k - 100k 100k - .5M .5M - 1M 1M - 2M 2M - 5M 5M - 10M >10M
Num
ber o
f Ret
aile
rs
Audience Size
Mega-brands are the exception, not the rule. Plan accordingly.
#SocialFresh @ArgyleSocial
FB Integrated Commerce
4% 13%
84%
Facebook Check Out On Site Check Out No FB Commerce
#SocialFresh @ArgyleSocial
FB Integrated Commerce
4% 13%
84%
Facebook Check Out On Site Check Out No FB Commerce
Most retailers haven’t made signi!cant social commerce
investments.
#SocialFresh @ArgyleSocial
SMM Tools
Enterprise – 3% Mid-tier – 7%
Free/cheap – 91%
Free/Cheap: Tweetdeck, HootSuite, et al Mid: Argyle, Awareness, et al Enterprise: Buddy Media, Vitrue, et al
#SocialFresh @ArgyleSocial
SMM Tools
Enterprise – 3% Mid-tier – 7%
Free/cheap – 91%
Free/Cheap: Tweetdeck, HootSuite, et al Mid: Argyle, Awareness, et al Enterprise: Buddy Media, Vitrue, et al
Sophisticated retailers are running social with the same
tools as Mom & Pop.
#SocialFresh @ArgyleSocial
Asking For the Sale
Facebook Twitter
Frequently 26%
Rarely 24%
Never 49%
Always 1%
Frequently 29%
Rarely 27%
Never 44%
How frequently do retailers use CTAs on social properties?
#SocialFresh @ArgyleSocial
Asking For the Sale
Facebook Twitter
Frequently 26%
Rarely 24%
Never 49%
Always 1%
Frequently 29%
Rarely 27%
Never 44%
How frequently are calls to action used on social properties?
Your fans can’t read your mind. Use calls to action to direct
consumer behavior.
#SocialFresh @ArgyleSocial
Few special offers…
Facebook Twitter
Do posts include special offers?
No 71%
No 77%
Yes 29%
Yes 23%
#SocialFresh @ArgyleSocial
No special offers…
Facebook Twitter
Do posts include special offers?
No 71%
No 77%
Yes 29%
Yes 23%
Exclusive content and incentives drive community.
Key insight: Retail is a case study for all social media marketers.
#SocialFresh @ArgyleSocial
Still WIP…But With Obvious Applications
• Find your peer group. • Make strategic technology investments. • Ask for the sale.
• More insights later this month… – Feb 23 webcast with
#SocialFresh @ArgyleSocial
Marketers: Ask yourself…
