So here’s a great presentation from Business Insider’s Henry Blodget on the future of social commerce.
Most incisive deck we’ve seen for a while. Lot’s of great stats – and smart insights
What you need to know:
- Social media is a source of only a tiny proportion of e-commerce traffic (< 5%) , and yields lower conversion rates (less than 1/4 email) and smaller order sizes (less than 1/2 email)
- The opportunity in social commerce is to help people shop smarter (make better buying decisions) rather than drive e-commerce [traffic] from social sites. Specifically the two big social commerce opportunities are
- Use social to help people save money
- Use social to help people choose what to buy
- For the vendor, the value of social commerce is to sell people stuff they didn’t know they wanted to buy by helping people save and choose smarter – increasingly via mobile platforms.
Simple good advice.
The embed function seems to be pulling out the page not the presentation, but you can view it http://www.businessinsider.com/the-future-of-social-commerce-slide-deck-22013-2?op=1 – and subscribers to Business Insider can download the PDF here