How can brands and retailers make money from social media?
Social Commerce, the fusion of social media with e-commerce, may just be the solution. With the mainstreaming of social networks, brands are establishing storefronts on Facebook, tweeting deals on Twitter, linking to social shopping sites, and integrating social media tools into their e-commerce platforms. And they are seeing impressive returns.
With insights from consumer psychology and the experience of brands including Adidas, Apple, Burberry and Levi's the white paper "Social Commerce: Monetizing Social Media" by Dr Paul Marsden, social media strategist of Syzygy Group, provides an introduction to the emerging trends of social commerce and social shopping; what they are, how they work, and why they should be part of your digital marketing strategy.
Inhaltsverzeichnis (Table of Contents)
- EXECUTIVE SUMMARY
- INTRODUCTION: SOCIAL MEDIA SNAKE OIL
- SOCIAL COMMERCE: AN ANTIDOTE TO SOCIAL MEDIA SNAKE OIL
- SOCIAL COMMERCE DEFINED
- WHY SOCIAL COMMERCE?
- SIX DIMENSIONS OF SOCIAL COMMERCE
- WHERE TO START: LEAD STRATEGY
- MEASURING SOCIAL COMMERCE SUCCESS
- FROM TOOLS TO STRATEGY: BRAND BUILDING WITH SOCIAL COMMERCE
- THE SOCIAL PSYCHOLOGY OF SOCIAL COMMERCE
- CONCLUSION: FUTURE TRENDS
- SOCIAL COMMERCE RESOURCES
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This white paper examines the opportunities and challenges of social commerce, focusing on the monetization of social media through e-commerce. It analyzes how social commerce can benefit both businesses and customers, and discusses the strategies, tools, and psychology behind successful social commerce implementation.
- Social Commerce as a Solution to the Ineffectiveness of Traditional Social Media Marketing
- The Definition and Evolution of Social Commerce
- The Benefits of Social Commerce for Businesses and Customers
- Strategies and Tools for Implementing Social Commerce
- Future Trends and Opportunities in Social Commerce
Zusammenfassung der Kapitel (Chapter Summaries)
- EXECUTIVE SUMMARY: This chapter provides a brief overview of social commerce, its potential benefits, and the key concepts discussed in the paper.
- INTRODUCTION: SOCIAL MEDIA SNAKE OIL: This chapter examines the challenges faced by traditional social media marketing and argues that social commerce offers a more effective solution.
- SOCIAL COMMERCE: AN ANTIDOTE TO SOCIAL MEDIA SNAKE OIL: This chapter introduces social commerce as a fusion of social media and e-commerce, outlining its advantages and its potential to monetize social media.
- SOCIAL COMMERCE DEFINED: This chapter provides a detailed definition of social commerce and explores its historical evolution.
- WHY SOCIAL COMMERCE?: This chapter outlines the key benefits of social commerce for businesses and customers, highlighting its impact on product discovery, selection, and referral.
- SIX DIMENSIONS OF SOCIAL COMMERCE: This chapter identifies six distinct dimensions or toolsets for social commerce, including social shopping, ratings and reviews, recommendations and referrals, forums and communities, social media optimization, and social ads and apps.
- WHERE TO START: LEAD STRATEGY: This chapter provides a practical framework for businesses to start implementing social commerce, using a LEAD strategy of Listen, Experiment, Apply, Develop.
- MEASURING SOCIAL COMMERCE SUCCESS: This chapter discusses key metrics for evaluating the success of social commerce, focusing on ROI, Reputation, and Reach.
- FROM TOOLS TO STRATEGY: BRAND BUILDING WITH SOCIAL COMMERCE: This chapter explores how social commerce can be utilized for effective brand building, leveraging social psychology to shape customer perceptions.
- THE SOCIAL PSYCHOLOGY OF SOCIAL COMMERCE: This chapter delves into the psychological principles behind successful social commerce, analyzing the role of social intelligence heuristics such as popularity, authority, affinity, scarcity, consistency, and reciprocity.
Schlüsselwörter (Keywords)
Social Commerce, E-commerce, Social Media, Social Media Marketing, Monetization, Business Benefits, Customer Experience, Product Discovery, Product Selection, Product Referral, Social Shopping, Ratings & Reviews, Recommendations & Referrals, Forums & Communities, Social Media Optimization, Social Ads and Apps, LEAD Strategy, Measurement Metrics, Brand Building, Social Psychology, Future Trends, sCRM, Mobile Social Commerce, Curated Social Marketplaces.
- Quote paper
- Paul Marsden (Author), 2010, Social Commerce (english), Munich, GRIN Verlag, https://www.grin.com/document/146286
