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8/14/13

5 Social Targeting Scenarios to Increase Revenues on Your E-Commerce Website - ShopSocially Blog

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5 Social Targeting Scenarios to Increase Revenues on Your E-Commerce Website AUGUST 12, 2013 BY VIBHUSHAN WAGHMARE

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The true power of social commerce is in adding social elements in the commerce flow and not the other way around. Data shows that e-commerce sites can gain significantly by embedding social engagement modules on their website. These modules can turn a e-commerce site into a word-of-mouth powerhouse. E-commerce sites track visitor data and purchase data. By incorporating social profiles into the mix they can significantly enhance the richness of the data. Social profile data brings a component of personalization and virality to user data. The convergence of visit data, purchase data and social data can be hugely rewarding for e-commerce sites. They can build targeted social engagements on their website to increase word-of-mouth virality and to maximize revenues. This is “social targeting�, a new strategy for e-commerce.

blog.shopsocially.com/2013/08/12/5-social-targeting-scenarios-to-increase-revenues-on-your-e-commerce-website/

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8/14/13

5 Social Targeting Scenarios to Increase Revenues on Your E-Commerce Website - ShopSocially Blog

Here are 5 scenarios that can be achieved on a retailer’s website through social targeting: 1. Birthday Targeting If David visits your website and has a birthday within 3 days, he can get a special ‘Treat yourself’ offer just for his birthday. He may also receive a similar offer in the email. David feels special and not only makes a purchase, but also becomes a loyal customer. 2. Social Influencer Targeting If Sheila has 1120 facebook friends and Amanda has 320 facebook friends, clearly, Sheila has a larger social influence. Right? Not quite. Being a social influencer is about whether your friends care about you opinion, and not just blog.shopsocially.com/2013/08/12/5-social-targeting-scenarios-to-increase-revenues-on-your-e-commerce-website/

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8/14/13

5 Social Targeting Scenarios to Increase Revenues on Your E-Commerce Website - ShopSocially Blog

about how many friends you have! Finding true influencers and then rolling out the red carpet for them can really boost word-of-mouth referrals. E.g. using social targeting, when an influencer finishes making a purchase, she could be given a very strong incentive to share her purchase with friends. 3. Geo- targeting If Richard is identified as a New York resident from his social profile, he can be shown a New York Yankees T-shirt that is on sale. Showing Richard relevant T-shirt is likely to significantly increase his conversion to a sale. 4. Interest-based Targeting Jane is visiting a pet foods site. If the site knows that Jane is interested in cat related products, it can show her a special offer related to cats. This subtle personalization (“Wow! I needed cat products and there happens to be a special offer for just that!”) can make a big difference in conversion compared to showing her a generic site-wide offer. 5. Friend Graph Targeting If Mary’s friend Rachel’s birthday is coming up and we know that Rachel likes the Beatles, a 30% OFF offer on a Beatles CD can be presented to Mary suggesting that as a gift for Rachel. Mary will know that she has made the right choice and Rachel will receive a gift that she really likes. In this post, we have covered only a few scenarios. Social Targeting can get much more pin-pointed by combining visit data + purchase data + social profile data and using it effectively to target visitors on retailers’ websites. Clearly, this is the way of the future. Like

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FILED UNDER INCREASE CONVERSION, INCREASE SALES, UNCATEGORIZED TAGGED WITH E-COMMERCE SITE, FACEBOOK PROFILES, INCREASE REVENUES, SOCIAL COMMERCE, SOCIAL PROFILES, SOCIAL TARGETING

← ShopSocially Reveals Insights into Social Commerce Growth blog.shopsocially.com/2013/08/12/5-social-targeting-scenarios-to-increase-revenues-on-your-e-commerce-website/

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