How Social Sharing Drives eCommerce Sales? (Infographic)
Some of us are finally discovering how social sharing drives eCommerce sales and marketing ROI. Get more insights from this story with infographic.
Retail seems to get the picture: eCommerce is still growing with the speed of light.
They also seem to understand that consumers with their social sharing are convincing their like-minded peers to buy great products and services as well.
Is social media going to close the loop in a See, Like, Buy way?
Infographic: Social Sharing Drives Sales
Social commerce platform AddShoppers analyzed $5,000,000 worth of eCommerce transactions.
They uncovered the following insights from thousands of merchants ranging from mom & pop shops to household brands like Everlast:
Pretty amazing intel, right?
Here’s a short summary of the key insights:
- The average Tweet is worth $1.62 to online retailers.
- Every Pin drives an average of $1.25 in revenue to an online retailer.
- The majority of products shared on Twitter are electronics.
- The average online order influenced by a Tweet is $181.37.
- Product shares via E-mail have the highest likelihood of turning into a purchase.
- More people share apparel products than any other product category.
- The average online order influenced by Tumblr is $200.33, the highest of any social networking site.
Looking at the high order value at Tumblr we can see why “big is only good when smart”: Their user’s share of wallet is much higher than that from Facebook or Twitter.
It might explain why Yahoo wanted to acquire Tumblr, which has 184.000.000 users.
Math Men can calculate Tumblr’s value beyond potential advertising revenues.
The Power of Predictive Marketing?
Most direct marketers have embraced the internet, search, social, crm and mobile from day one. Their main reason?
Data makes marketing very measurable, accountable and fuels adaptive planning and predictive marketing.
And direct marketers, e-mail marketers and performance marketers have the answers to these crucial marketing and sales questions:
1. What are the costs of acquiring one opt-in e-mail address, one lead or one sale?
2. What is the ROI of each subscriber, fan, follower or lead?
3. What are the Costs Per Order of every sale (CPO)?
4. What is the economic value of one relationship?
5. How many relationships do we have? How can we grow them and at what costs?
6. How can we become a predictive brand, like Amazon.com?
How do you value and predict the economic value of your relations?
I am glad that social marketing is finally being seen beyond: Reach, buzz, broadcasting and advertising.
Marketers in retail and eCommerce are finally starting to close the loop in social marketing: See + Like is becoming: See, Like and Buy.
I like that.
What About You?
How are you using social media and social sharing? Our audience would love to see your ideas in the comments below.
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About the Author
Igor Beuker was CMO at 3 listed companies, chairmain at the IAB, jury member at Webby, AMMA and Esprix awards, founder of 2 agencies (sold to WPP) and Global Chief Social Officer at Mindshare. Now he is ‘freejack’ consultant and a sought after keynote speaker.