April 6, 2012
Survey: Social Sharing Driving Purchases
A new survey of online shoppers finds a strong correlation between consumer purchases and "social sharing," or when friends share shopping finds online in the retail sense. For instance, the survey found that 62 percent of respondents have read product-related comments from their friends on Facebook.
The survey of 1,088 online shoppers who use Facebook was conducted between January 15 and February 8 and sponsored by Sociable Labs, a provider of on-site social commerce solutions.
Even closer to purchase time, 75 percent of respondents admitted that they clicked on the product link in their friend’s Facebook post, taking them to the product page on the retailer’s website. Of those who clicked through in this way, 53 percent made a purchase.
The primary benefit shoppers experience with social sharing is product discovery ("It helps me find a product I might want to buy"). Of those surveyed, 48 percent of shoppers agreed that social sharing is "extremely helpful" or "very helpful" when shopping for a product.
Beyond social sharing, the survey found that "Social Proofing" — the use of social sharing content to show friend activity directly on an e-commerce site — significantly increases shopper confidence in a retailer’s site. A third of respondents agreed they are more likely to stay and shop on retailer sites that show people who have shopped on that site. That number increases to 62 percent if some of those people are their friends. In addition, 57 percent of shoppers are more likely to make a purchase from sites that show friends who have purchased there before.
"We found that consumers discover what products to buy through social sharing, and then act on that information 75 percent of the time," said Darby Williams, VP of marketing at Sociable Labs, in a statement. "Retailers have the ability to trigger this kind of sharing from their ecommerce sites, driving both significant referral visits and conversion uplift if they fully leverage it."
BrainTrust
Recent Discussions
Discussion Questions
Discussion Questions: How big an opportunity is social sharing? What can retailers do to take advantage of the opportunity?
Poll
Social sharing is a HUGE opportunity for retailers! The data presented in this article is very encouraging — “We found that consumers discover what products to buy through social sharing, and then act on that information 75 percent of the time.”
Retailers need to make it easy to share this information with customers social network. The Facebook link “Loving my new margarita maker from Frontgate — check it out!” drives a positive consumer response.
Word of mouth reborn in the 21st century! Based on these stats (even though the sample came from an already online group), every retailer and every supplier should be using these pathways to selling more product to a wider audience.
I think social sharing is especially important for online retail since the consumer is already in front of a computer and can easily access their social network and read information about social views of the products they are considering. It’s a little more problematic for brick & mortar stores with physical limitations on floor space, but with wireless support for the consumer’s own tablet or smartphone, it eases the transition of the experience.
The opportunity is huge because social channels are replacing the channels that retailers/marketers have been using for the last 70 plus years. The challenge is going to be how to use this Social Sharing. My advice to the companies is simple. Don’t try to use it. Try to make it happen through good products and services. Intrusion into Social Sharing by companies is death to their efforts and their products!
Of course social sharing is a huge opportunity as is all social advocacy tied to brand commerce. The ultimate opportunity is for brands and especially retailers to recognize the customers (and prospects) who follow these influencers and the influencers themselves. Social data adds an entire new dimension to customer behavior and insights, though most retailers are falling way short when it comes to capturing, much less using, these new data.
BIG opportunity. CPGers and retailers, alike are taking advantage of it. Take advantage while it’s still close to being free.
Digital word of mouth, word of mouse, whatever the moniker or method — the result is amplification of peer consumer experience. Transcending consumer info!
The benefits start with increased online visibility for the average retail small biz (more new customers finding them locally) — at present a way underrepresented sector within the search engine landscape. Benefits then extend to enhanced customer communications (increased loyalty and retention), and even improved productivity.
Bigger than most small businesses currently realize, the front-line awareness still needs to catch up to the technology.
Thanks to more ‘social sharing’ of this type of info; we can all lend a hand in making that happen.
Now to go retweet, share, recommend, and +1.
Great info as usual!
This is not a question of “how big an opportunity social sharing” is. The question is “what is the risk of not being actively in this space?” Your product or service is already being socially shared, for good or ill, right now. The key is to engage in and encourage the dialogue, provide easy social sharing links, and react in real time to the crowd sourced commentary. This is not just for direct online sellers. It is for all commerce.
Social sharing is most important! Another survey released this year found the overwhelming number of shoppers trusted anonymous, users comments more than any other recommendation, including from friends and family.
Personal experience influences my response this time around. Shopping recently for an iPad cover, I was in a big box electronics retailer and was overwhelmed by choice.
I looked on my phone to see if there were any reviews and then talked with a sales associate to make a final decision.
If the sales associates are well trained, they can have mighty influence on purchases. This person was credible and told me in no uncertain terms that one item was the favorite among the crowded shelf. I chose that one and was pleased with the purchase.
In the new world of social shopping, don’t forget that some of us will actually talk to your sales people, therefore, take into account the importance of social sharing, but don’t stop training your associates!
More Discussions
How Timely Is the Planned Lowe’s Website Renovation Focusing on Personalization?
Is Lowe’s being timely with its website reno, and is it right to be placed as…Should Costco Be Opening Members-Only Gas Stations?
Is this the right move for the warehouse club?As Boomers ‘Age Out of Peak Purchasing,’ How Can National Brands Retain Interest With Gen Z?
According to a recent First Insight study titled “Is Gen Z Still Choosing Your Brand,” while…
Social sharing is a HUGE opportunity for retailers! The data presented in this article is very encouraging — “We found that consumers discover what products to buy through social sharing, and then act on that information 75 percent of the time.”
Retailers need to make it easy to share this information with customers social network. The Facebook link “Loving my new margarita maker from Frontgate — check it out!” drives a positive consumer response.
Word of mouth reborn in the 21st century! Based on these stats (even though the sample came from an already online group), every retailer and every supplier should be using these pathways to selling more product to a wider audience.
I think social sharing is especially important for online retail since the consumer is already in front of a computer and can easily access their social network and read information about social views of the products they are considering. It’s a little more problematic for brick & mortar stores with physical limitations on floor space, but with wireless support for the consumer’s own tablet or smartphone, it eases the transition of the experience.
The opportunity is huge because social channels are replacing the channels that retailers/marketers have been using for the last 70 plus years. The challenge is going to be how to use this Social Sharing. My advice to the companies is simple. Don’t try to use it. Try to make it happen through good products and services. Intrusion into Social Sharing by companies is death to their efforts and their products!
Of course social sharing is a huge opportunity as is all social advocacy tied to brand commerce. The ultimate opportunity is for brands and especially retailers to recognize the customers (and prospects) who follow these influencers and the influencers themselves. Social data adds an entire new dimension to customer behavior and insights, though most retailers are falling way short when it comes to capturing, much less using, these new data.
BIG opportunity. CPGers and retailers, alike are taking advantage of it. Take advantage while it’s still close to being free.
Digital word of mouth, word of mouse, whatever the moniker or method — the result is amplification of peer consumer experience. Transcending consumer info!
The benefits start with increased online visibility for the average retail small biz (more new customers finding them locally) — at present a way underrepresented sector within the search engine landscape. Benefits then extend to enhanced customer communications (increased loyalty and retention), and even improved productivity.
Bigger than most small businesses currently realize, the front-line awareness still needs to catch up to the technology.
Thanks to more ‘social sharing’ of this type of info; we can all lend a hand in making that happen.
Now to go retweet, share, recommend, and +1.
Great info as usual!
This is not a question of “how big an opportunity social sharing” is. The question is “what is the risk of not being actively in this space?” Your product or service is already being socially shared, for good or ill, right now. The key is to engage in and encourage the dialogue, provide easy social sharing links, and react in real time to the crowd sourced commentary. This is not just for direct online sellers. It is for all commerce.
Social sharing is most important! Another survey released this year found the overwhelming number of shoppers trusted anonymous, users comments more than any other recommendation, including from friends and family.
Personal experience influences my response this time around. Shopping recently for an iPad cover, I was in a big box electronics retailer and was overwhelmed by choice.
I looked on my phone to see if there were any reviews and then talked with a sales associate to make a final decision.
If the sales associates are well trained, they can have mighty influence on purchases. This person was credible and told me in no uncertain terms that one item was the favorite among the crowded shelf. I chose that one and was pleased with the purchase.
In the new world of social shopping, don’t forget that some of us will actually talk to your sales people, therefore, take into account the importance of social sharing, but don’t stop training your associates!