Graphic via MoonToast

According to eMarketer, more than seven out of 10 internet users are online buyers. By 2015, it is projected that nearly 30 million consumers will leave the mall for good in favor of becoming strictly online buyers. The online space is now a forum through which consumers consult with friends and family or read online reviews to determine which businesses and products are worthy of their hard-earned dollars.

Social media has also served as an outlet through which smart business owners can solicit feedback from consumers to make sure their products, prices and services are up to snuff. Bottom line: positive online reviews not only boost your company’s online visibility but also the increases the likelihood that you can convert more online browsers into buyers.

So, will social networks continue to change how online shoppers…um…shop? In our world and for our clients, social media is all about leads and sales — so we reply to that question with a resounding YES!!!

According to Gartner Research, by 2015 50% of a company’s sales will be generated through their social and mobile platforms. Social networkers are more likely to be spenders, and are more willing to follow brands – reaching this group where they live should key element of your online strategy. If you can win the hearts of your highly social consumers, they can help your brand gain more exposure,  be seen as trustworthy to other consumers and help you begin to build an online community. From there, research shows that the online commerce and the continued community growth go hand in hand.

How To Be Successful in the Digital Space

As a business, no matter whether you’re large or small, being successful in the digital space comes down to a few things:

  • Offer great products and service to your consumers
  • Develop relationships with your highly connected, social consumers
  • Offer compelling rewards and offers to keep your social consumers interested and engaged
  • Have impeccable customer service
Here’s an example: while browsing Facebook the other day, I noticed that Banana Republic doesn’t just encourage their fans to like their page; they also built a tab that’s integrated into their Facebook page so that fans can peruse their products right on the fan page. This is exactly the type of integration that brands will be looking to include in their social properties. I won’t mention that when I tried to actually shop on Banana Republic’s page, I got an error message, but at least it’s a step in the right direction!
All too many times we see brands blasting “Like Us on Facebook,” “Follow Us on Twitter” without offering any value in exchange. But for brands that are paying attention and who understand that customers want them to be a part of the conversation, they want problems solved, quality content, convenience, great UX (as in if I see something while browsing through Banana’s Fall Collection that I want to buy while I’m on Facebook, I can do it in a jiffy), the social space is all about gathering leads and converting those leads to sales. And making consumers’ lives easier in the process.
    What brands have you see that have started to integrate social commerce? Would love to hear your ideas on this.