Social Commerce: Which Social Media Platforms Drive the Most Sales?

Business owners often wonder about the “ROI of social media”. Is my Facebook page actually driving sales? Is all this tweeting really doing anything for my bottom line? Should I be on Pinterest and Instagram?

Well it turns out, when it comes to ecommerce, being social matters.

To better understand how social media is impacting the ecommerce industry, Shopify analyzed data from 37 million social media visits that led to 529,000 orders.

Here’s some interesting data points they uncovered:

  • Facebook dominates as a source of social traffic and sales. Nearly two thirds of all social media visits to Shopify stores come from Facebook. Plus, an average of 85% of all orders from social media come from Facebook.
  • Orders from Reddit increased 152% in 2013.
  • Perhaps most interesting and surprising was community style site Polyvore which is generating the highest average order value ahead of Facebook, Pinterest and Twitter. Also noteworthly in this category is Instagram which is also generating higher average orders than those same sites. This is especially impressive considering the only clickable links in Instagram are those in profile bio’s.
  • Facebook has the highest conversion rate for all social media ecommerce traffic at 1.85%

In addition to these stats, they’ve also analyzed specific industries to determine which platforms are performing better. You can check out all the findings in the infographic below.

social-growth-667px

[Source: Shopify]

PwC Total Retail 2014

This survey, PwC’s seventh annual study in a series tracking changes in global consumers’ shopping preferences, is our biggest one yet: 15,000 online users representing 15 countries.  Among the expectations that global consumers now have are:  24/7 retailer availability, real-time insight into the retailer’s stock, compelling in-store technology, and consistent prices and offerings across all the retailer’s assets.

Today’s consumers have raised the bar for retailers. Multichannel shopping is a given — the price of admission into the conversation. Within our data we’ve unearthed eight customer expectations that transcend geography and product category, and will require that retailers evaluate their business model from top to bottom.

  • A compelling brand story that promises a distinctive experience
  • Customised offers based on totally protected, personal preferences and information
  • An enhanced and consistent experience across all devices
  • Transparency, real-time, into a retailer’s inventory
  • My favourite retailers are everywhere
  • To maximise the value of mobile shopping, both store apps and mobile sites must improve
  • Two-way social media engagement
  • “Brands” act like retailers, and we’ll treat them that way

Take a closer look at the main takeaways and feel free to discuss and share them! Please, don’t hesitate to contact me for any doubt and follow the hashtag #TotalRetail!

You can find all the contents, video, and much more on www.PwC.com/TotalRetail

1. “Trust the brand” is the #1 reason people shop at their favorite retailers, so retailers should change how that brand is communicated, both internally and externally.

Retail_FB_TrustBrand

2. Retailers need to strike a balance between customization and security because online shoppers demand customized offers based on totally protected, personal preferences and information.

Retail_FB_Retailers

3. Consumers expect a consistent experience across all devices, so companies need to ensure that customer information “travels” securely with each device.

Retail_FB_Consumers

4. The back-office of retailers needs to move at the speed of the customer because shoppers want real time, transparency into a retailer’s inventory.

Retail_FB_BackOffice

5. Favorite retailers are everywhere, so retailers should examine their store portfolio taking into account how consumers want to shop.

Retail_FB_Faves

6. To maximize the value of mobile shopping, both store apps and mobile sites must improve. Businesses should focus on the mobile browser experience first, and then ramp up apps.

Retail_FB_Mobile

7. Online shoppers seek two-way social media engagement, so retailers need to listen to customer’s comments and turn that commentary into actionable data.

Retail_FB_Online

8. Shoppers don’t see the difference between manufacturers and retailers, so both sides need to work together to share consumer insights and collaborate to enlarge the pie and drive more success for both.

Retail_FB_Shoppers

A Look Into the Future of eCommerce

Technology is revolutionizing the retail landscape. By 2016 it is estimated that global retails are expected to reach a staggering $1,321.4 trillion, a 67 percent increase from 2011. With the freedom to compare prices, greater efficiency and the growing prevalence of same day delivery offers – the allure of eCommerce is drawing more consumers each day.
The proliferation of mobile technology has also been an enormous driver in the retail world in recent years. Nearly 80 percent of all smartphone owners today use their phones at least once monthly to shop, while more than 1/5th of all consumers habitually utilize mobile devices to enhance their shopping experience. Our smartphones let us compare prices, read reviews, obtain digital customer service, and learn more about the products we see in stores. Consumers today can even purchase items from competitors online while standing in the showrooms of brick-and-mortar retail outlets. So the future of shopping looks bright for consumers everywhere. To learn more about the ways technology is influencing your shopping experience, take a look at this illuminating infographic produced by online retailer Gift-Library on The Future of How We Shop.
Is your eCommerce ready for this? Do you feel that your company is in need for a shift towards xCommerce? If you need a refresh on this maybe you should take a look at the PwC xCommerce Methodology… Page in Italian for the moment, but you can always contact me for any question!
20140214_Webtrends_ecommerce

[Source: Social Media Today]

10 must-know digital marketing statistics from 2013

In this post, I round-up some of the significant stats from 2013 which show the big trends in consumer behaviour across different digital platforms and channels that will help you question your priorities in 2014.

Social media marketing

Q. Which social networks should we focus on?

With limited time you need to focus your participation on the social networks which are growing fastest and have the most participation amongst your audience. This data from Global WebIndex shows the growth in the main networks across different age groups. You need to check how you’re performing compared to competitors too.

2014-social-media-stats

Q. Which social networks encourage sharing?

Our post asking which social network drives the most visits used social sharing data from Gigya to help answer this question.  These are the top sources of sharing at a top-level.

Social-sharing-stats

Of course, sharing will vary by market, so check your sharing against your direct competitors. Here we can see that Ecommerce sharing is quite different – with Pinterest very popular, particularly in the US.

Google Chrome

Q. Should we offer social sign-in?

The same data source also shows the relative popularity of the social networks for social sign-in. Data is available specifically for Ecommerce companies and publishers too.

Social-sign-in

Search

Q. How popular is mobile search and how effective is our mobile SEO?

With the increase in consumer adoption of mobile, you should focus more on visits from mobile SEO. See how the proportion of mobile visits vary in importance compared to other traffic sources to see whether you potentially have a problem.

Despite the growth in popularity of social media many of us still turn first to a search engine, although this new data from Google’s new Mobile Path to Purchase guide shows us that mobile apps and brand sites are important sources too according to consumers.

Mobile search popularity 2014

Q. How do I review the effectiveness of my SEO given the growth in Not Provided?

We have alerted readers to how Google has progessively removed referring keywords in its reports during 2013, so making reporting on SEO more challenging, although we have shown there are decent alternatives.

As if you needed a reminder, this is how significant Not Provided is now…

NotProvided

Ecommerce and conversion rate optimisation

Q. What is our potential improvement in conversion rates?

Although overall conversion rates for Ecommerce can help us benchmark, as Dan Barker said in this post average conversion rates are near-meaningless.

So what you need to review is the variation in conversion. This will vary by device, country, referrer and of course product category on the site as suggested by this benchmark from Monetate.  Only by analysing variation and understanding which interactions on category and product pages and customer online shopping concerns which affect conversion will you be able to improve conversion.

Mobile conversion

Q. Which channels drive conversion and value – beyond last click to assists

We’ve regularly written on the importance of channel attribution to understand which media influence sales over the increasingly complex customer journey. This new data from Adobe shows, for example that social media and search can be more valuable when assists are taken into account. It also highlights the importance of comparing channels on revenue per visit.

Google Chrome

Email marketing

Q. How seriously should I treat mobile email?

You probably know the answer to this already! The answer is “very seriously”. Litmus does an excellent job in in documenting the growing rise of mobile email.

Within email opened on mobile devices, checking your iPhone and iPad rendering is most important, although Android is rising fast.

[Source: Smart Insights]