Social media emerging as direct commerce channel: study - Luxury Daily - Commerce. Imagine Chanel selling fragrances via its Facebook fan page A study by Booz&Co. suggests that luxury brands need to start figuring out ways to turn those “likes” into “buys,” since social media is now emerging as a direct commerce channel.
Consumers are spending a lot more time on social networks and obviously some of their posts and comments relate to where they are – the mall – and what they are doing there – looking at specific products. Smart consumer-oriented companies need to be responding to this shift in behavior with carefully focused Twitter and Facebook stores.
“Social media is likely to have its broadest and most measurable impact in the lead generation, conversion, and loyalty/service elements of a purchase transaction, not as a brand building or awareness activity,” said Fabian Seelbach, senior associate at Booz&Co, New York. The market for social commerce will change drastically in the next five years, according to Booz&Co. Surprised? Are they ready? Like this article? Which Facebook marketing metrics matter the most? In my first contribution to Econsultancy two weeks ago, I wrote about how opening a Facebook page is like opening a flagship store, and I would like to follow-up on that article that stressed the importance of Facebook page management.
Most of you probably do have a Facebook Page for your business, but you might not be measuring some of these metrics mentioned below... Fans Quite obviously, the first metric that you probably all monitor are fans, or as Facebook now has it, "likers". Your fans are your number one thing, and you can say you have a very qualitative approach to your Facebook page, but 1,000 fans didn`t help much (well, unless they are B2B customers and each one is buying your product).
What we typically calculate on top of just fan numbers is what we call "country reach", which is the number of fans divided by the number of Facebook users in that country. This way you can compare different pages across different countries. For example, check out the top brands in the UK. Content. HOW TO: Manage Successful Social Media Promotions. Ben Straley is the CEO of Meteor Solutions, provider of the leading word-of-mouth analytics and optimization platform that enables marketers to measure, manage, and monetize earned media.
With holiday shopping in full swing, social shopping is already making a big impact. Data from Hitwise shows that downstream traffic to the Retail 500 coming from both Facebook and Twitter increased 36% and 15% respectively on Thanksgiving from the previous day. Downstream traffic to retailers grew again on Black Friday and Cyber Monday as many retailers promoted sales through fan pages and tweets. This data is very encouraging for marketers, but a social media campaign must still be managed correctly for maximum ROI. Here are some tips on how brands can best engage their customers by offering what everyone now looks to social media for – a bargain. New Strategies to Turn Buzz Into Buy Brands have long spent big money on commercials, media placements, direct mail, and more. 1. 2. 3. Conclusion.