Retailers are using social media as mainstream marketing channel but are still often unsure when it comes to determining true ROI of their social commerce efforts. Retailers have generated user-engagement and increased brand awareness using social, but haven’t been able to measure the precise business impact in terms of revenue uplift. Demandware and ShopSocially conducted a webinar to help retailers with 5 proven strategies to generate measurable social ROI. ShopSocially customer Totally Promotional co-presented the webinar. CEO of Totally Promotional Tom Casad and Social Media Coordinator Erin Siefring added insights from their successful social commerce strategies using ShopSocially platform which have yielded them 16% increase in sales conversion rate.
Recording of the webinar:
Presentation used in the webinar:
5 Strategies to Generate Measurable Social ROI:
1. Bring Social to Commerce:
Adding onsite social commerce modules on e-commerce site capitalizes on existing purchase intent of website user and converts them into ‘real’ Facebook fans. Custom canvas printing site Fabness USA used this strategy to acquire 15,000+ ‘real’ Facebook fans who converted at a high rate of 33.28% on their site.
2. Use Social in Right Context:
Identifying the points of customer delight and using social media influence at these points in right context results in maximizing the social impact. Totally Promotional used this strategy for their customized table covers products site Totally Tablecovers to capture customer delight when they received their custom-printed table covers. Customers shared their delight in form of picture testimonials shared on Facebook through mobile. These customer reviews resulted in an increase of 16% in their sales conversion rate.
3. Encourage Social Sharing of Purchases:
Retailers can turn their shoppers into brand ambassadors over social media through social sharing of purchases.Popular firearms manufacturer Beretta used this strategy to encourage their customers to share their purchases on Facebook. This generated word-of-mouth reviews and brought back quality social referral traffic. Beretta earned an average revenue of $19 from each socially shared purchase.
4. Show Social Proof on Product Pages:
Retailers can influence the customer’s purchase psychology through social proof by showcasing reviews from real customers on their product pages. Leading private-sales site for wine invino used this strategy to present real product reviews complete with users Facebook profile. This led to an increase in user engagement and an uplift of 22.22% in sales conversion rate.
5. Generate Deep Insights into Social Persona of Users:
Instead of using the now-obsolete methods of email-acquisition pop-up, retailers can encourage website visitors to connect with their brands using Facebook connect. This allows acquisition of rich social profile along with pre-verified email address and generates deep insights into customers social persona. Beauty retailer Carol’s Daughter used this strategy to identify social influencers among their customer-base. Users who connected with Carol’s Daughter through this method demonstrated a sales conversion rate of 29.79%.
Excerpts from the Question and Answer section of the Webinar:
Question: How does Facebook ads compare to word-of-mouth promotions driven by onsite social commerce apps?
Answer: Users’ comments on Facebook about retailer’s brand generally has a higher CTR as compared to brands driving their message through promoted posts on Facebook. Also, buying Likes through legitimate methods on Facebook has resulted in accumulating fake Likes for brands. This dilutes the engagement rate for retailer, further decreasing the organic reach of brands’ content on Facebook. Please check this viral video titled Facebook Fraud which highlights this effect in detail.
Question:How does social impact SEO rank of a website?
Answer: Social signals are a key driver for SEO Rank. Facebook Likes, Google Plus shares, tweets are impact SEO Rank. In fact, 7 out of top 8 SEO Ranking factors are social in nature. User reviews shared on social network generates backlinks for website further adding to SEO impact of social. For more details on this topic, please check this article titled “Want SEO, Get Social” from Jai Rawat, CEO of ShopSocially.
For the complete set of social commerce apps offered by ShopSocially check the below image: