shopping experience

How Social Commerce Is Winning By Going After The Entire Shopping Experience, From Browsing To Sale

Source: http://www.businessinsider.com/social-commerce-and-the-sales-funnel-2013-9

BII social commerce funnel

If social commerce is ever going to fulfill its ambitions, it must go after all parts of what is known as the consumer purchase funnel.

The classic funnel might be divided into three main stages: consumers discover new products on Facebook or Pinterest, then form an opinion, and finally move on to the purchase stage.

Social commerce is all about inspiration and product discovery, but entrepreneurs and retailers are anxious to transform that interest at the “top-of-the-funnel,” into sales.

In a new report from BI Intelligence, we analyzed the most recent data and spoke to leaders in the social commerce space to understand how their companies are adding value at different stages of the retail and e-commerce purchase funnel. To do so they’re building social networks around e-commerce platforms, partnering with brands, or otherwise transforming social commerce’s strengths in Pinterest-style digital window-shopping into a clear value proposition.

Access The Full Report, Graphics, And Data By Signing Up For A Free Trial Today >>

Here’s how social commerce companies are driving sales:

In full, the report:

 

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Wednesday, September 11th, 2013 news No Comments

In Luxury Goods, Price Matters, But Trust And Service Retain

Source: http://www.marketingvox.com/in-luxury-goods-price-matters-but-trust-and-service-retain-051111/

A tough economy notwithstanding, 61% of UK consumers who buy premium products and services online will not reduce their online spending in 2012. But, they expect superior service for premium prices, and luxury goods and services providers need to prioritize customer service during the online shopping experience. That according to a survey conducted by Leapfrogg, the […]<img src="http://feeds.feedburner.com/~r/marketingvox/rss/~4/c_HJxeqH_S0" height="1" width="1"/>

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Wednesday, May 30th, 2012 news No Comments

Groupon Buys eCommerce Data Targeting Startup (And Angelpad Alumnus) Adku

Source: http://techcrunch.com/2012/02/06/groupon-buys-ecommerce-data-targeting-startup-adku/

Screen Shot 2012-02-06 at 1.22.09 PM

I love the smell of acquisitions in the morning! We’ve just heard that Groupon has acquired Adku, a stealth startup that uses big data in order to personalize the online shopping experience for people visiting eCommerce sites like eBay, Amazon and Zappos.

The company built their personalized targeting technology in three months, and have basically been in stealth since they launched at the Angelpad Demo day a year and a half ago. Adku is backed by Greylock Partners, Battery Ventures and True Ventures in addition to being an Angelpad startup.

Although CEO Ajit Varma and several members of the six person team are former Googlers, from what I’m hearing this wasn’t a talent acquisition or acqhire but a team + technology play  – with a price beyond $10 million. Varma would not disclose what the team will be working on when they get to Groupon.

While it’s not clear what the technology will be applied to, the acquisition makes sense on a lot of levels, especially because a personalized experience is where most of eCommerce is headed. Greylock VC David Thacker now runs product for Groupon, so that couldn’t have  hurt either.

Wrote Varma in a blog post, “We started talking to Groupon to bring our technology to more customers and quickly realized that we wanted to be a deeper part of a company that people love and is empowering merchants and customers in a way that’s never been done before.”

Stay tuned!

OK @adku (three former Google engineers) is a company that Techcrunch will slobber over. Dynamic content. Interesting company.—
Robert Scoble (@Scobleizer) November 11, 2010


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Monday, February 6th, 2012 news No Comments

Even Walmart Is Snapping Up Social Media Companies (WMT)

Source: http://www.businessinsider.com/even-walmart-is-snapping-up-social-media-companies-2012-1


Walmart shoppers

Walmart wants to transform itself into a social media retail mega player and it’s backing that desire by investing millions of dollars into its young, little-known development lab, @WalmartLabs.

Born in April with the $300 million purchase of Kosmix, @WalmartLabs today announced  its fourth acquisition, a mobile app company called Small Society known for writing apps for clients like the Democratic National Committee and Starbucks.

@WalmartLabs had previously bought mobile point-of-sale app maker Grapple. It also snapped up location-aware mobile ad company OneRiot.

The co-founders of Kosmix, Venky Harinarayan and Anand Rajaraman, are the leaders of Walmart Labs. Each has been granted the title of senior vice president of Walmart Global eCommerce and head of @WalmartLabs.

Their goal is to have Walmart create the next great shopping experience by melding physical stores with online search and social media input.

“We are at an inflection point in the development of ecommerce. The first generation of ecommerce was about bringing the store to the web. The next generation will be about building integrated experiences that leverage the store, the web, and mobile, with social identity being the glue that binds the experience,” said Anand Rajaraman in a blog post when @WalmarLabs was launched.

Using what it calls its “Social Genome” applications, it scans Twitter and other social sites to seek out and analyze consumer trends. The team is also writing mobile apps for shoppers. 

What’s interesting is that Walmart would rather build its own than use some of the many social media tools for retailers already on the market, even from big IT companies like Oracle and IBM.

So far the group has launched a classic iPhone and iPad shopping app and one called ShopCat for Facebook users. ShopCat scans Facebook friends’ profiles to recommend gifts for them from Walmart, RedEnvelope, Barnes & Noble, and ThinkGeek.

But the team clearly has bigger plans for changing the way everyday people shop for everyday items. And it looks like @WalmartLabs has only just begun: it’s got a career section 25 jobs long.

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Wednesday, January 4th, 2012 news No Comments

The Smartphone Is Becoming A Goliath In The Retail Industry

Source: http://www.businessinsider.com/how-smartphones-are-revolutionizing-the-shopping-experience-2011-11


cuba mobile phone

A study by the Times finds many retailers–including major ones like Best Buy, Nordstrom and Amazon–offer the most promotional deals for smartphones, which generate millions, if not billions, in revenue.

Amazon, for example, will make $5.37 billion in sales through mobile devices by year’s end, according to a recent survey by Internet Retailer.

Flash deal and group-buying sites are also jumping on board with mobile-exclusive deals of their own. Gilt Groupe, for example, started offering special holiday promotions on Friday, November 25 at 6 a.m.

Surprisingly, it’s bricks-and-mortar stores who will be making the biggest mobile-deal push. One of the main reasons is because they must compete against the growing consumer trend of using price comparison apps, says Time Moneyland’s Brad Turtle. These apps let you scan an item, compare retailers’ prices and read product reviews, which have become increasingly popular in the last year.

What’s funny, though, is how many retail stores started arming their salespeople with the same equipment. Reuters reports that companies like Lowe’s, Best Buy and Toys R Us gave their people smartphones of their own to research products, check rival’s prices and even make purchases.

More than 40 percent of retailers now have a policy of competing against lower online prices through mobile phones, according to the research firm RSR.

Lowe’s alone is using over 42,000 Apple iPhones and distributing them to 1,700 of their stores.

With the equipment, employees can engage customers more effectively by using iPhones to track down the same information consumers are tracking. They’ll also be able to quickly see if products are in stock, or still available on the website or at another nearby store.

Some companies are also allowing their employees to either match or beat prices that a consumer finds somewhere else on their phone—good news for the consumer.

Check out 8 amazing and free phone apps to help you save >

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Monday, November 28th, 2011 news No Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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