Innovation Key to Future of Online Retail; Interview with One Kings Lane CEO, Doug Mack. Flash sales is a hot topic we cover routinely here at Social Commerce Today.
Recently, Shop.org interviewed Doug Mack, CEO of One Kings Lane, a flash sales site that sells home decor, about the influence of social commerce. Here are the highlights of that interview that pertain particularly to social commerce. Interest Graph is Social Commerce Future Trend In regard to future trends, Mack joined the chorus of those that suggest the “interest graph” is the direction where things are heading. Say Hello To The Real "Want" Button That Beat Facebook To The Punch. Want The Lucky Lefty Group: Jordan Katzman, Alex Fenkell, and Eric Chesbrough If Facebookdoes indeed launch a "Want" button at its F8 Conference today, they're in for a bit of surprise.
The Want button already exists. Its inventors, the Lucky Lefty Group, are determined to create a definitive "Wish List" for the internet age, no matter what Facebook has to say about it. In fact, they were inspired by Facebook. Here's how it works: click the Want button on 200 retail sites (and growing), and the product will be added to your profile on Wanttt.com. You can follow others, as well as channels like the "Steve Jobs" channel, a hand curated feed of cool Steve-related gear and apparel. And Want has some serious firepower behind it. The fledgling company is backed by Camelot Venture Group, one of the primary VC firms behind the "Detroit 2.0" revival movement, and previously a critical investor in Quicken Loans and the Cleveland Cavaliers.
Social Commerce Today. Amazon is stifling the e-commerce revolution. “If you’re not in first place, then you’re in last.”
—Ricky Bobby, “Talladega Nights: The Ballad of Ricky Bobby” Amazon, the world’s largest Web retailer, is clearly in first place. So who is number two and prepared to challenge Amazon? Struggling to think of an answer? Me too. As the president and CEO of Zmags, I’ve thought a lot about how companies can compete with Amazon, and I believe e-commerce needs healthy competition to sustainably innovate. Amazon continues to defy gravity deep into its second decade. Here’s the good news: Amazon’s model is out-dated and, by its very design, anti-social. Amazon pioneered online directed purchases, training consumers to turn to them first to purchase specific items, guided particularly by price (and later recommendations). Thanks to a number of recent developments, the era of discovery shopping is emerging. Then, the iPad entered the game.
Tablet owners are not looking for a “one click and exit” shopping experience. First, Kenneth Cole. Online retailers like social media buttons. Facebook buttons on 71% of top online shops Social media recommendation buttons are now featured on the majority of successful e-commerce websites and are more popular than simple sharing plug-ins, according to new research.
US shopping search engine TheFind teamed up with online publisher Search Engine Watch to reveal the results of a survey of the 1000 most popular internet retailers. TheFind's data showed that of the top 300 e-commerce sites, 71 per cent use a Facebook 'Like' or 'Share' button, while 58 per cent feature Twitter plug-ins. Relatively new brands Google+ and Pinterest stand at 24 per cent and 9 per cent respectively; while general sharing tools AddThis and ShareThis are at 19 per cent and 5 per cent. Implementation methods were also highlighted, as rather than the old model of one or two general sharing options - for example, 'Share this' allowing interaction with Facebook, Twitter and more - retailers are opting to feature particular social brands.
The Curious Case of Social Buttons in E-commerce. Shopping search technology company, The Find, shared some research into the implementation of social buttons on e-commerce sites exclusively with SEW.
The study found that social recommendation buttons were more popular than simple sharing plugins. The 6 Pillars Of Social Commerce: Understanding The Psychology Of Engagement. Social media is about social science, not technology.
As such, its value is not realized in the Likenomics of relationship status nor in the scores individuals earn by engaging in social networks. The value of social media comes down to people, relationships, and the meaningful actions between them. The exchange of social currencies contribute to one's capital within each network. Through conversations, what we share, and the content we create, consume, and curate, we individually invest in the commerce of information and the relationships that naturally unfold. It is in how these relationships take shape that is both in and out of your control. One of the greatest myths in new media is that social networks facilitate conversations about you that would not otherwise take place if your organization weren't present.
The control you think you lose by opening up to online engagement actually gives you a sense of control. The A.R.T. of Engagement. E-commerce consumer reviews: why you need them and how to use them. 61% of customers read online reviews before making a purchase decision, and they are now essential for e-commerce sites.
User reviews are proven sales drivers, and something the majority of customers will want to see before deciding to make a purchase. Here are some compelling stats on user reviews, why they are great for SEO, why bad reviews are valuable, and how to use reviews in navigation and on product pages...