5 Social Shopping Trends Presented by PowerReviews [Webinar Recap]
These are my notes recapping today’s 5 Social Shopping Trends Shaping the Future of Ecommerce (2011 Edition) Webinar presented by PowerReviews. If the notes below look interesting, you should watch the full webinar (about an hour) which is embedded at the end of the post.
#1 Consumers are spending more time researching across more sources
- Product Reviews and Product Q&A are the two critical elements consumers look for when researching.
- Quality and Quantity of these are both important.
- Just-in-Time Feedback is key.
- Quantity is important in terms of coverage for consumer research experience. Minimum 35% of your core catalog should have UGC (User Generated Content) to perform well. Make your UGC available to all social networks and partners, don’t keep it private.
- Knowing the "number of Facebook fans" isn’t enough. Knowing details like UGC to SKU analytics is needed.
#2 Research starts with search, but SEO alone is no longer enough…
- Organic referral traffic Google Shopping is increasing as Google makes it more prominent.
- Traffic to the Product Page (deeplink) has the highest potential conversation (not including direct add to cart).
- Home Depot, Best Buy, and Macys user reviews don’t appear to Googlebot.
- Merchants should participate in the Social Snippet program in Google.
#3 Consumers use Facebook for sharing and discovery, not for research
- Best time to ask to be a Fan is when user is engaging (eg. right after they wrote a review).
#4 On-site deployment of social tools has the greatest…
- Pros and Cons are very important to consumer decision making
- Face-Off (Most liked Positive review / Most liked Negative review) is important
- On-site communities are driven by User Generated Content.
#5 Facebook Open Graph is emerging as the social platform of choice for e-commerce
- Facebook is the main place where the users enter and update their personal information (profile picture, etc.), not on individual sites themselves.
- Investigate Amazon’s implementation of Facebook to get ideas for your own for social integration
Things that stuck out to me personally and my questions:
- Quickness in the adoption of the “Like” button from both consumers and merchants. Will Google+ button be able to achieve the same speed?
- The high level reported in the ability to deliver ROI from Twitter Marketing (72%). Other research reports don’t seem to share this enthusiasm?
- Consumer Survey reports that 43% of user participate in a retailer’s Fan page on Facebook to gain access to promotions. This is by far the highest percentage compared to other reasons. Will this continue to be the main source of consumer participation?
Overall the Webinar provided some interesting insights as well as hard evidence in the form of research data of movement towards a more socially-orientated ecommerce on the web.