Instrumented Interconnecteds Intelligent

By John Squire
Director, Product Management, Enterprise Marketing Management Group
IBM Industry Solutions

A couple of weeks ago when I wrote about online shopping trends and predictions for this holiday season, I focused largely on the rise of the mobile shopper. Today in honor of Black Friday, I’d like to focus instead on social shopping.

Social shopping, as I’m sure most of you know, refers to those people who turn to their social networks for advice or research when they’re considering a purchase. Seems like a pretty intuitive concept. But the fact is that I’ve spoken to far too many retailers who have either discounted the notion that social shopping will ever make significant contributions to their bottom lines or who throw up their hands in frustration and say something along the lines of “I just don’t understand how to use it to drive revenue.”

JohnSquire 12_16_10These are the kinds of perspectives that drive retailers out of business. Here’s why. IBM data shows that people who arrive at a retailer’s site from Facebook are nearly twice as likely to buy something than other people. Put another way, social media’s ability to influence consumer behavior far outstrips that of other channels.

The reason lies in the very nature of social media. Social media is built on the premise that one person’s opinion is not only as valid as anyone else’s, but that it’s authentic and therefore trustworthy. People tend to trust someone (even a perfect stranger) who has taken the time to post an opinion on a Facebook page much more than they trust an ad. More to the point, IBM data shows that people are willing to act on the opinions of strangers. It turns out that even on the Internet, it’s the human relationship that matters.

What we’re talking about is the evolution of the Internet from a click-based experience to a people-based experience. Rather than clicking through pages and pages of Google search results, people are turning to their social networks for advice. Consumers have the ability to exert influence over brands in ways that weren’t possible before the rise of social media. What’s more, they know it. IBM’s Yuchun Lee has often said that social media is like “truth serum” for businesses. Use that to your advantage.

The implications for retailers (or any business) are clear: you must identify, nurture and promote brand advocates, ratings and reviews, and social conversations. These are the people whose opinions will influence your sales across a network of people everywhere. Social shopping matters for one achingly simple reason: in the age of the empowered consumer, you are marketing and selling your goods and services to people who have a multitude of ways to broadcast their opinions to thousands upon thousands of other people (and potential customers).

If you don’t care about social shoppers, you’re in the wrong business.

Bookmark and Share

Previous post

Next post

16 Comments
 
April 9, 2014
10:23 am

Do you have a spam issue on this blog; I also am a blogger,
annd I was wondering your situation; many of us have created some nice methods and
we are looking to trade strategies with other folks,
be sure to shoot me an email if interested.


Posted by: how can i get more followers on instagram fast
 
December 8, 2013
3:03 am

Darn! We have to show up at a meeting at my son’s faculty right when that’s taking place.


Posted by: Kirstie Sklenar
 
August 15, 2013
6:49 am

Hi there very nice blog!! Man .. Excellent .. Wonderful .. I’ll bookmark your blog and take the feeds additionally¡KI’m happy to find a lot of helpful information here in the post, we want work out more strategies in this regard, thanks for sharing. . . . . .


Posted by: credit card
 
August 7, 2013
6:51 pm

Thanks a lot for sharing this with all people you really realize what you’re speaking approximately! Bookmarked. Kindly also consult with my website =). We may have a link exchange agreement among us!


Posted by: Wireless Webcam
 
July 29, 2013
3:14 am

The following time I read a blog, I hope that it doesnt disappoint me as much as this one. I mean, I know it was my choice to read, but I really thought youd have something attention-grabbing to say. All I hear is a bunch of whining about something that you could possibly fix if you happen to werent too busy looking for attention.


Posted by: Nicky Fluaitt
 
July 28, 2013
11:14 am

This website online is known as a stroll-via for all the information you needed about this and didn�t know who to ask. Glimpse right here, and also you�ll undoubtedly uncover it.


Posted by: Dale Alaya
 
July 27, 2013
6:31 am

Aw, this was a very nice post. In thought I wish to put in writing like this moreover � taking time and precise effort to make an excellent article however what can I say I procrastinate alot and in no way appear to get one thing done.


Posted by: Emerita Knerien
 
July 26, 2013
11:35 pm

I used to be very happy to seek out this net-site.I needed to thanks on your time for this excellent learn!! I undoubtedly having fun with each little little bit of it and I’ve you bookmarked to take a look at new stuff you weblog post.


Posted by: Hiram Garg
 
July 26, 2013
12:07 pm

This website can be a stroll-by way of for the entire data you wished about this and didn�t know who to ask. Glimpse right here, and also you�ll positively uncover it.


Posted by: Nathanael Glassing
 
April 23, 2012
6:45 am

Did you know that more than ten people a year are killed by vending machines?


Posted by: seo optimizavimas
 
March 7, 2012
5:42 am

POPULAR MYTH: Green buildings cost more. (Hint – they don’t.) If you’re about to stop reading and skip to another article, stick with us – this is a crucial point: green buildings don’t cost more.


Posted by: forex trading strategies and systems
 
March 6, 2012
5:14 am

viskas apie lieknejima yra cia
butinai uzeikite


Posted by: kaip numesti svorio
 
December 13, 2011
2:06 pm

Great info on social commerce! I’ve put together a few more tips to improve business in 2012: http://venpop.com/2011/4-ways-to-get-involved-with-social-commerce-in-2012/


Posted by: Cameron
 
November 26, 2011
6:33 pm

I believe in the power of social recommendation which often comes through the social networks. It can push sales to great hights. This in essence works for sale of StemEnhance, a very unique plant blend which when ingested, increases the release of numerous adult stem cells into the blood stream. Adult Stem cells migrate to sites of injury, stress and disease, and effects tissue/organ renewal and speedy recovery.


Posted by: Prince Anucha
 
November 26, 2011
10:04 am

I am counting on the shift to mobile shopping because I am building a buy books business via a smartphone app.


Posted by: David
 
November 26, 2011
9:52 am

It is sad to see people fighting in Black Friday shopping confrontations.


Posted by: David
 
Post a Comment