Social Retailing

Think

Some Notes Worth Keeping

September 14, 2011

Social Retailing


Social Retailing
Best Practices for Retailers to drive sales and integrate social media into your overall digital strategy

eCommerce: Convenience, Price, Selection

sCommerce: Social and interest graphs drive buying decisions

Movement to a People based world. (vs. a product based world)
-       People want to feel belonged and accepted

Only 3% of people have EVER bought something on Facebook

-       90% of all sales are subject to social influence
-       50% of Baby & Me’s online sales come from Facebook
-       F&F generated $2m in sales from facebook vouchers

Rue La La: Colin Hynes (Flash Sale Sites)
-       Why are they shopping
-       What do we want them to feel
-       What experiences are we going to provide

Concepts at Rue La La
-       Urgency:  Make sure you are constantly on responding
-       Virality: Exclusivity, Sharing, Funny
-       Authority
-       Authenticity

Ticketmaster: Kip Levin
-       Social:
o   About making the customer experience better  (Planning, attending, post)
o   About awareness of events (Social is the connector between events and people)
-       Started with:
o   Bookmark and share this: not a lot of benefit
o   Then, launched facebook buttons (Like) = 3x the action
o   Moved from share this to recommend = 3x the engagement
o   Then, created RSVP (Customer integreation) on confirmation page – integration into facebook page = $5/recommend
o   Moved homepage from 100% merchandising to “recommended for you”.
o   Moving to social merchandising (RSVP  feeds from friends to recommended events)
o   Just launched: facebook friends integration into seat map