Kathy Woolverton's Blogs

Kathy Woolverton

Measuring social commerce
Social commerce is purchase transactions that are driven through sharing on social platforms such as Facebook, Twitter and LinkedIn and through “email friends” application. Social commerce is when friends refer, recommend, or "Like" your product or service, and share with others they know.


Are you making it very easy for people to recommend your products and services? Do the pages of your website, and the products in your e-commerce have Share or Like, yet?


So why would this addition make a difference?


There are a number of reasons this makes a big difference to enhance your business income:


- Each "Share" or "Like" refers and recommends your business to their friends. Each "Share" that a person does, posts a note re your product /service with a link to your site`s page to where they are sharing with their friends and collegues. These are sharing to Facebook, Twitter, LinkedIn, and other social sharing sites.


- Each "Share" or "Like" increases your rank in the search engines such as Google.You want to be found on the first page of the search engines. Each Share or Like automatically creates a link to your site from a high profile site. Each new link to your site helps build your Search Engine Optimization (SEO) rank.


The social Web fuels the conversation for recommendations and sharing. This conversation isn’t new, but we are now able to track the resulting transactions with unprecedented granularity.


Social commerce is purchase transactions that are driven through sharing on social platforms such as Facebook, Twitter and LinkedIn and through “email friends” application.


In one case study “Social Commerce: A First Look at the Numbers,” Eventbrite shows angible data to quantify the value and impact of social media in driving eCommerce.


Key findings
The key findings of Eventbrite's analysis include:


- Sharing equals transactions: Dollars per share
When someone shares an event with their friends through social media, this action results in real dollars. Most recent data shows that over the past 12 weeks, one share on Facebook equals $2.52, a share on Twitter equals $0.43, a share on LinkedIn equals $0.90, and a share through ”email friends” equals $2.34. On an aggregate level across Facebook, Twitter and LinkedIn, and email share tool, each share equals $1.78 in ticket sales. They saw this number improve every week with the most recent four-week average equaling $1.87.


- It’s extremely sticky: Visits per share
The hyper-relevancy of the social graph breeds deeper engagement, greater sales and stickier audiences. For Eventbrite, Facebook is now the #1 referring site for traffic to the company’s site, surpassing Google as people discover events that their friends are sharing and they click through to find out more. On average each Facebook share drove 11 visits back to Eventbrite.com. Averaging across all channels, one share drove over 7 visits back to Eventbrite.com.


- It’s happening everywhere, across all sizes and types of events: Consistency of sharing
Sharing is consistent across event size. Sharing occurs at the same rate an event has 10 or 10,000 people. Classes/workshops and networking events have the most share activity, followed by fundraisers, conferences, and music events.


What it Looks Like:


Social Commerce increases sales


Summary: Social commerce is the next big thing
Social commerce takes online commerce to a new level. It marries the natural act of sharing and socializing with friends and the act of buying something online. Social commerce brings together social promotion and transactions into a single, unified experience, which breaks the old rules of eCommerce and demands new metrics. And the exciting news is that this is just the beginning.


Ready to add social commerce to your website to increase sales? Contact Synergy today at info@synergycc.com or call 604-681-0516.


We’re also keen to hear your thoughts and feedback on the subject. Post your website below, and we'll check it out and provide you with some ideas that would enhance your business. Comment below on what worked for you.

Kathy Woolverton
For many of you involved in marketing your company, you know that social marketing is one of the fastest growing trends to market your company and engage customers. Yet for many of the executives and managers who you report to, and who approve budgets, this may be a new area.

To help you out, here are some useful tips from a recent article from
Social Media Examiner
, an online magazine designed to help businesses discover how to best use social media tools to find leads, increase sales and generate more brand awareness.

9 Ways to Sell Social Media to the Boss

Conversations are happening online with or without you. This is one of the most frequently used social media sayings. If you’re engaging with social media for your company, it’s almost second nature.

However, there are still many who are struggling to ‘sell’ social media to their executives. And as Doug Frisbie, Toyota National Marketing Manager says, “The price of inactivity is greater than the risks of anything we’d be doing in social media.”

Let’s explore 9 ways you can make a good case for social media programs.
But first…

Why Do Some Execs Avoid Social Media?
It’s important to understand the reason that executives resist jumping into social media. Most of the time it’s fear of the unknown. Brands are not used to being open; they’re used to being in control. Old-style marketing was easy – you push out a message to millions of people (through TV or radio) and you’re done.

Marketing the new way actually means letting go of the reins and putting customer voices up front and center, which can be a scary thing. Because a lot of executives often are not personally active on social networking sites and microblogs, they lack full knowledge of the inner workings.

Couple that with all of the negative press some companies are getting for having the wrong approach to social media and you start seeing the lack of trust in the effectiveness of social media.

But what can you do to convince your executives that Synergy and all those social media practitioners out there are right? How do you show them that social media should be a critical part of your business strategy?

Here are a few suggestions:

#1: Display Current Conversations
One of the fastest ways to convince your management that it really isn’t a matter of ‘why’ rather than ‘when’ is to do some quick detective work yourself.

Using free tools like Google Alerts, TweetDeck and others, research the ongoing conversations about your company and provide a quick summary in a very visual way. Include screenshots of people’s tweets; calculate the percentage of positive, negative and neutral posts and comments over a specific period of time (1-2 months). If you don’t have expensive listening tools in place, the calculation will be manual, and it will take you a little bit of time.

If the customers are already reaching out to you and getting no answer, this will definitely get management’s attention. Further into your presentation, don’t forget to tell management what you’re planning on doing to turn the ‘neutrals’ and ‘haters’ into loyalists.

#2: Don’t Leave Out Competitor’s Information
Make sure to include the information on not only what your competitors are doing in this space, but also what is being said about them. If your competitors are not yet looking into social media immersion, this is your chance to show leadership in the industry. If they’re already getting into this space, this might convince your boss to at least look at doing the same to avoid being left behind.

#3: Show Your Industry Peers’ Successes and Failures
Take a look at what other companies in the industry are doing and make sure to mention two or three social media campaigns that got a lot of press coverage. Providing examples of companies that failed to listen to social chatter and to address customers’ concerns can at times be very convincing as well.

#4: Use Data
Do your homework. Organizations like eMarketer, MarketingProfs , Nielsen, comScore and lots of others publish a ton of data on social media usage, social network demographics and other statistics. Morgan Stanley and Forrester publish research on digital trends and consumer expectations. Use this data to make your case when it makes sense.

#5: Start Small
Start with pilots. Try it out with a small budget and a small dedicated team. Enlist the help of grassroots folk from all over the company if needed (you don’t have to have full-time dedicated personnel at this point; you can succeed with just the help of a few passionate people). Make sure that your goals are measurable. This is absolutely critical to your mission.

#6: Do Risk Analysis and Contingency Planning
You need to ensure management is comfortable with the idea of pilots. Having a crisis plan helps. Map out every scenario you can think of. Identify any potential risks. Ask yourself, “What if conversation turns to this topic?” or “What if we get this type of reaction?” and have a solid plan to address every one of them.

#7: Seek Outside Help
As much as it pains me to say this, the sad reality is that often external consultants seem to have more convincing power and more credibility than a company’s internal experts. If that’s the case, then enlist the services of an external source to help management understand that the conversations are happening with or without them and that they don’t have a choice but to join in.

#8: Create Guidelines and Enable Your Employees
Let your management know that you’re not going into this blindly. Start by creating guidelines for engagement on a platform of your choice for your pilot. Include topics that will and will not be discussed, your moderation house rules (what posts will be deleted and why) and any additional information you want to convey.

Be transparent up front and be sure about setting expectations for the dialog to come. You can then go even further and create a simple set of social media guidelines to ensure that your employees are operating with a clear understanding of what’s appropriate and what is not. Partner with legal, PR, HR, security and privacy teams on this; it will ensure your key stakeholders are all on the same page and feel comfortable with the direction. Their support will be critical in your pitch to executives.


As an example, take a look at “Intel’s Social Media Guidelines (and feel free to steal with pride).


#9: Stay on Course
Most importantly, remember that change isn’t easy. But one person can make a difference and help a brand think and behave differently. We’ve seen it time and again. Don’t get frustrated; stay on course. Having a meaningful dialog with your customers is critical to the success of your business and absolutely is the right way to go.

We would like to hear your experiences. What has worked for you? Let us know your thoughts in the box below.