Social Commerce is a simple concept that allows users to earn points by letting their social network access a retailer shopping basket via a social post. This enables users to like, share and discuss products with friends. If a friend chooses to purchase a recommended product, then the originating user will be rewarded using the retailer’s loyalty scheme. In essence, every customer becomes a sales channel or ‘micro-influencer’ that promotes products to targeted audiences with extremely high engagement rates.
Insights gathered from these activities, coupled with the wealth of information from a user’s interactions on social media (with permission), provides a huge opportunity to create a deeper understanding of a retailer’s customers that can be used to personalise their shopping experiences. Personality analysis is a powerful tool that can predict user needs and values based on social media usage. Preferences and inclinations can be derived and used to drive tailored marketing strategies and enhance existing approaches.
Social Commerce has found a revival with this unique approach pioneered by SAP and Capgemini, and this event promises to be a thought-provoking and challenging day. Be on the lookout for further blogs recapping the discussions shared from the event!
You can read more about the event here.