A quick and dirty guide to social commerce

Jim Nichols
Websites Posted on May 31, 2012
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Final thoughts


Photo: Paul Bica

This is truly a fascinating new arena -- one that is thriving because of the "perfect storm" of new buying options, ubiquitous connectivity, and the explosion of social tools available.

As next steps, I suggest you talk to a few of the companies making news in the space. These companies can provide a great deal of color and granularity for the sectors in which they operate. I truly believe that there is a tool (or set of tools) out there for most brands, and that the first movers will reap tremendous benefits in the months and years ahead. Why not be one of them?

Jim Nichols is vice president of branding at ROI DNA.

On Twitter? Follow iMedia Connection at @iMediaTweet.

"Card for text in hand vector" and "Wood background" images via Shutterstock.

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Comments

Brant Emery
Brant Emery May 31, 2012 at 12:00 PM

First of all, nice comprehensive yet readable article!
One point sticks out for me: "For example, without social media, a highly satisfied customer might evangelize your product to perhaps 10 people. With social media, that number can now easily exceed 100, or 1000, or 10,000."
This factor is often quoted as a reason to be socially engaged - Forrestor's social impact factor model, etc. Yet, I think in reality this is much compromised by the credibility factor (which you mention later). Trust is still key to decision making. Though wisdom of the crowd accounts for 20% of our purchase influence (ratings, reviews, etc - the help of strangers) - the rest still comes from stronger connections, family, peers, friends. I'm not sure how exponential the actual amplification really is. Also, another key issue is are you in fact just advertising to customers? Who came first? The Facebook fan or brand advocate?