In cognitive philosophy “a scholar is just a library’s way of making another library“. Libraries need scholars to replicate. In a similar way, in social commerce “a customer is just a business’s way of making another customer”. Customers replicate and businesses expand through a customer-get-customer mechanic.
From this social stance, the value of a customer lies primarily in their referral value; so rather than simply sell to an individual customer, you sell socially to a customer and their friends. Network thinking not population thinking.
- 56% of online shoppers have clicked on Like buttons related to Products
- 38% of online shoppers have shared comments with friends about products they have purchased
- 62% of online shoppers have read product comments shared by their friends on Facebook
- 75% of the people who read these comments have clicked on the product image, linking them to the retailer’s site
- 53% of those who went to the retailer’s site have purchased the product when they got there
- This “Share-to-Purchase” funnel has resulted in 25% of all online shoppers purchasing a product via shoal sharing
- 38% of online shoppers are sharing product comments with friends on Facebook
- 62% of online shoppers are reading product comments shared by their friends on Facebook
- Causing 47% of all shoppers to click over from these comments and visit retailer sites
- And 25% of all shoppers to purchase on those sites
- 81% of these “Social Buyers” are “Social Sharers” too, turning the share-to-purchase-funnel into a viral sales loop
Bottom line, customers beget customers so sell socially by selling not just to an individual but to the individual and their friends. “A customer is just a business’s way of making another customer“.