Digital Business: Social Commerce Yu-Hui Tao

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Presentation transcript:

Digital Business: Social Commerce Yu-Hui Tao

EC activities conducted in social networks by using social software (Web 2.0 tools)

Social Commerce: Revenue Source: Chapter 7, Electronic Commerce 2012 by Turban, King, Lee, Liang and Turban, Pearson

Social Commerce: Relationship Source: Chapter 7, Electronic Commerce 2012 by Turban, King, Lee, Liang and Turban, Pearson

Social Commerce Examples (Nutley, 2010)(Nutley, 2010) Dell computer made $6.5 million by selling computers on Twitter in two years (Dell generated ideas from community members, Idea Strom site; Dell has 80 Dell- branded Twitter accounts in expanding awareness of its products and increased sales) Procter & Gamble sells its Max Factor brand cosmetics through Facebook as part of what the FMCG giant calls “small-scale direct-to-consumer” initiatives Disney allows people to book tickets for Toy Story 3 on Facebook without leaving the social network

Social Commerce: PespiCo PepsiCo gives a live notification when its customers are close to physical stores(grocery, restaurants, gas stations) that sell Pepsi products. Then PepsiCo sends them coupons and discount information using Foursquare Foursquare Pepsi uses Twitter to supplement a toll-free telephone number to share product feedback faster and in a more personal way – reached a new audience that never bothered to call

Social Commerce: Mountain Dew Mountain Dew attracts video game lovers and sport enthusiasts via Dewmoncracy contests. It uses the most dedicated community members to contribute ideas. The company used Facebook, Twitter, and YouTube to unite consumers through a common interestunite consumers

Social Commerce: Levi’s Levi’s ads on Facebook by enabling consumers to autopopulate a “shopping cart” based on what their friends think they would like. There is also a video on YouTube to educate consumers on how to use Facebook to shop for and with their friendsshopping cart

Social Commerce: Wendy’s Wendy’s uses Facebook and Twitter to award $50 gift cards to those who have the funniest and quirkiest response to various challenges.

Social Commerce: Measuring ROI Decide on the goals and objectives Plan how the goals will be achieved Put the plan into action – implementation and execution Measurement results Revise, refine, adjust and possibly redeploy. Revisit the goals and objectives and continue down the cycle.

Social Commerce: Metrics Track traffic for finding leads (e.g., sources, changes over time) Find the engagement duration Bound rate (how quickly a visitor leaves your site) Membership (numbers of their composition) Activity levels (by type) Conservation levels (by type) Brand and company/product mentions (reputation); positive and negative comments in all social networking activities How many friends of friends are resharing your links and content? Blog interaction (several measures)

Social Commerce: Metrics Loyalty and sharing: are social members really interacting in the network repeatedly, sharing content and links, mentioning your brands, evangelizing? How many members reshare? How often do they reshare? (Several possible measures can be used here) Extent of virality. Social members might be sharing Twitter tweets and Facebook updates relevant to your company, but is this info being reshared by their- networks? How soon afterward are they resharing? How many friends of friends are resharing your links and content?