Top 5 rules for Online Shopping.

Online shopping has its own advantages its just great for those who really take time to decide about  what to buy and what not to buy and for those who do a lot of research about a product before buying it.With the increasing number of web stores on the web you can almost buy everything over the Internet through online shopping and also find great deals for the products that you want to buy. So here are Top 5 rules that you should follow while shopping online.

Window Shopping – Shop around different merchants offering the same product that you want to shop.If you stick to same merchants while shopping online you might be missing out on great deals and customer experience at a different merchant  you haven’t previously shopped before.

Ask questions – While most of merchants  would include a thorough description of their products along with its picture, you should still ask questions if you need to know more about the product. The best way is to ask for recommendation from your friends they are a trust able resource that you can trust and go ahead and make your discussion. You can use Shopsocially It helps you ask questions to your friends and get friend recommendations from them and also you can share your purchases with your friends through Shopsocially.

Use Price Comparison Engines- If you are looking to buy gadgets online then visiting price comparison engine is a must. Price comparison engine gives you information about the product and its pricing across all merchants and other offers which merchants are providing.You might find a great deal for a product that you are looking for.

Collaborative Buying- Group buying can be a great option if you and your Friends have similar shopping lists.You can get great discounts and some great deals for your self and your friends.The best place for Collaborative buying would be Groupon.

Check the Shipping terms -There is nothing worse when shopping online and when you go to checkout your basket cost has increased by $5 to $10 because of shipping! Always check for the shipping charges details.

Follow these 5 rules on online shopping and buy more smartly while shopping online 🙂 Go shopping Go Online.

Booz & Co Report : Social Commerce will be a $30bn market.

Retailers should jump in soon and learn by doing.

Booz&Co recently published a report on Social Commerce titled Turning “Like” to “Buy” Social Media Emerges as a Commerce Channel

Link to the complete report: http://www.booz.com/media/uploads/BaC-Turning_Like_to_Buy.pdf 

Summary:

Social Commerce revenues are set to grow six folds from $5bn currently to $30bn within 5 years. This estimate is only for hard goods and does not include services. Social media has already revolutionalized the way people communicate and connect with each other. Now it will rapidly transform the way people shop as well.

There are opportunities to use social commerce at every step of the purchase funnel – awareness, consideration and conversion and also within post purchase components of loyalty and services. As with every other initiative, measuring the success is key.

Awareness

While most companies are focusing on the awareness stage, it seems to have limited value in spurring social commerce. 71% users said that “liking” a company on Facebook has is not correlated to purchasing from that company

Consideration

Some companies are building applications to entice users to leave social networking site and visit their own site. However, companies can and should do more in the consideration stage.

Conversion

This is where social commerce can have the biggest impact. Influencing shoppers via friend recommendation represents a huge opportunity. 81% of teenage girls rely on their friends and peers for trend information and 45% get opinions from friends before buying clothing and footwear.

Events is another such category. Fans would be more likely to attend an event if they know that their friends are attending that event as well.

Loyalty and Service

Companies should give their customers a chance to advocate on their behalf. Provide them both an incentive an opportunity to spread the word and become a loyal customer.

Measurement

It is critical to determine the right metrics and measure them continously.

Four Imperatives for eTailers

1. Jump in soon and learn by doing.

2. Develop a strategy for getting the data you need.

3. Define what the customer experience should be.

4. Integrate social commerce into an overall multi-channel strategy.

Jai Rawat, CEO, ShopSocially

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Facebook – Talk not Shop!

Retailers at last month’s Shop.org conference said that “Facebook is for socializing and not long bouts of shopping”. Consumers visit Facebook to spend time with friends, have conversations and interact with their social network. Facebook is, however, a great place to discover new products. Users can get product recommendations from their social network, a much more powerful influencer than an anonymous review posted on an obscure website. Essentially, consumers use Facebook to talk about their purchases but not actually shop.

Click here to read more about what the speakers at Shop.org had to say.

Five Mantras of Social Shopping

I came across this article by Samrat Kabiraj where he lists five mantras to help us make better purchases.

  1. Dwell on what meets the needs and create a list of options
  2. Find friends who may have bought a similar product
  3. Get first hand product review, akin to a test drive
  4. Get a little bit more for your money from recommendation sites
  5. And finally, look for reliable reviews from people you trust.

The steps above do seem to lead to a happy social shopper. Click here to read the entire article and enjoy shopping socially!


Social Commerce – the 5th C of Community

The traditional 4C’s of community – Content, Conversation, Connection and Continuity have been given a new member – Social Commerce, by Brian Solis.

In a short but very relevant article Brian highlights that brands now need different strategies to cater to the traditional consumer and the social consumer. The social consumer taps into this social graph for shopping advice and influences purchase decisions in their social network.

Our services are focussed on catering to this social consumer and creating an opportunity for social commerce. Every shared purchase is spread to the news feed of the social graph, there by, increasing a brand’s reach and visibility.

Click here to read the full article.