Top Social Commerce Statistics from SocialCommerceToday.com – You Can Monetize Facebook Fans!

When I was writing the book, Like My Stuff: How to Monetize Your Facebook Fans with a Facebook Store, many people said they didn’t know that you could make purchases on Facebook.  As I was doing research for the book, I came across a site, SocialCommerceToday.com that has the most amazing collection of information on social commerce and f-commerce. Below is an excerpt of what they offer! These facts could be the key to getting your Facebook initiative approved and monetized!

Facebook Drives Loyalty Sales:

  • 117%: the additional amount a fan will spend on a brand compared to a non fan
  • 17%: proportion of Facebook users who say simply having the ability to ‘Like’ a brand makes them more likely to buy
  • 51%: the increase in likelihood a customer will purchase, after clicking the ‘like’ button
  • 41%: the increase in likelihood a customer that a customer will recommend, if they have liked the brand
  • 28%: the increase in likelihood that customers who ‘like’ a brand will repurchase
  • 40%: Proportion who ‘Like’ businesses in order to receive special discounts and promotions
  • 30% to 200%: increase in site registrations for sites using Facebook sign on
  • 15% to 100%: Increase in the number of reviews and other user-generated content generated when using Facebook social sign-on

Facebook Drives Word-of-Mouth Sales:

  • 75%:  Percentage of Facebook users who have “liked” a brand
  • $2.52: what a Facebook share generates for ticketing site Eventbrite
  • 11: Visits generated by  a Facebook share for ticketing site Eventbrite
  • 30bn+: pieces of content shared online every month by Facebook users (web links, news stories, blog posts, notes, photo albums, etc.)
  • 90: Average pieces of content created by a Facebook user each month
  • 130: Average number of Facebook friends of a user (who receive their word of mouth recommendations)
  • $3.60: the media value generated by the average Facebook fan is $3.60/year

Facebook Drives E-Commerce Traffic:

  • 6.5%: click-through rates on Facebook walls are 6.5%
  • 67% of retailers plan to use Facebook to drive traffic to their e-commerce sites
  • 25%: proportion of users who post links to other companies, products or services
  • 20%: proportion of e-commerce sales from Facebook (for Wetseal)
  • 1.5x: Facebook users spend 1.5x more online that other Internet users
  • 1 in 11: humans that are on Facebook (642 613 700) [Q2 2011]
  • 40%: The drop in Coca-Cola’s website traffic in the past year, but Coke’s Facebook page is up and is now the world’s most popular Facebook brand page (22m)
  • 7.9: In 2010, Facebook grew by 7.9 users/second
  • 1/3: Proportion of time spend online on Facebook by Facebook users
  • 50%: proportion of users who log on to Facebook in any given day
  • 700 billion: Minutes spent on Facebook every month
  • 80: Average community pages, groups and events to which a Facebook user is connected
  • Bigger than Google: In August 2010, U.S. Internet users spent 41.1 billion minutes on Facebook, surpassing Google Inc.’s 39.8 billion minutes for the first time
  • Nine in Ten: Proportion of US social network users who use Facebook
  • 57.1%: Proportion of Internet US users using Facebook

f-commerce is a Viable Retail Platform:

  • Top 3: The top 3 brands on Face book (by fans) all sell directly on Face book – Coca-Cola (24m), Starbucks (20m) and Disney (19m)
  • 2-4%: f-store conversion rates – on a par with web-stores (avg. 3.4%, according to Forrester/Shop.org)
  • $650,000,000: The drop in Netflix share value when Warner opened up a Facebook movie rental (streaming) service in 2011
  • 1000: Number of diapers P&G sold on its f-store in under an hour
  • 50,000: Number of retailers who have opened an f-store with Payment
  • 6 hours: Time it took for the Rachel Roy Facebook jewelry store to sell out
  • 3rd highest: daily sales made by Rachel Roy, the day it opened it’s pop-up f-store
  • 1m+: Starbucks customers using their e-commerce-enabled Facebook CRM loyalty program
  • 1300: Number of products added every week to the ASOS f-store
  • 20%: Proportion of black Friday sales transactions on Facebook for e-tailer Kembrel
  • 7-10%: Increased Average Order Value for Facebook transactions (vs. web-store) for Kembrel
  • 5000+: customers using Walmart’s group-buy Facebook app on the day of its launch
  • $34: Amount paid for the first transaction ever to take place in Facebook at 11.50 am EST on July 8, 2009 for bouquet of flowers ‘A Slice of Life’ on the f-store of U.S. florist 1-800 flowers

Could Facebook Be the Operating System of the Future? 

  • 200+ million: Facebook users accessing the utility through their mobile devices
  • 2x: People using Facebook on mobile devices are twice as active on Facebook than non-mobile users
  • 94%: Proportion of phone users who will communicate on their handsets via social networks
  • 50%:  Proportion of mobile internet traffic accounted for by Facebook and other social networking tools
  • 70%: proportion of Facebook users who engage with Facebook applications
  • 550,000: the number of active applications currently on Facebook Platform
  • 44%: proportion of retailers who plan to use Facebook application in place of microsites for product launches and promotions

Industry Adoption of f-commerce is Accelerating:

  • 76%: percentage of retailers who plan to use Facebook for ‘social commerce’ initiatives
  • 50%+: proportion of the global top 100 websites have integrated with Facebook using it’s social plug-ins
  • 50,000+: Number of websites that integrated Facebook social plug-ins (incl. ‘Like’) in the week they launched
  • 2.5 million+: websites have now integrated with Facebook
  • 10,000: number of new websites integrate with Facebook every day (with social plug-ins) (since April 2010)
  • 2m+: Number of sites that have integrated Facebook social plug-ins
  • 7 out of 10: proportion of digital marketers who have implemented or planning to implement Facebook Like feature

@drnatalie Learn. Share. Grow!

For more information on my book about F-commerce, “Like My Stuff: How to Monetize Your Facebook Fans with a Facebook Store” check out my Facebook store.

Here’s more great resources and posts on social commerce:

How to Monetize Your Facebook Fans WIth a Facebook Store

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Social Media Week in Los Angeles! Sysomos and Dr. Natalie Petouhoff Present “Social Media Monitoring and Measurement” at Social Media Breakfast LA

I’m very excited to be presenting during Social Media Week in LosAngeles!

I will be presenting with Sysomos on September 22 a 90 min breakfast session on “Social Media Monitoring and Measurement.” The event is free! I’ll use real-life case studies along with tools, tips, strategies, and tactics to monitor and measure the success of social media and digital communication programs.

You’ll learn how to use market intelligence gathered from social media monitoring and measurement to improve audience engagement and drive business value.

Event Details

* What: Social Media Breakfast LA event — “Social Media Monitoring & Measurement” Includes full Venezuelan-inspired breakfast. FREE

* When: Thursday, September 22, 2011, 7:30 – 9:00 a.m.
Space limited; seating available to the first 80 registered attendees

* Where: Coupa Café, 419 North Canon Drive, Beverly Hills, 90210

* Who: Sysomos, a leading global provider of social media monitoring technology, and Dr. Natalie Petouhoff (@drnatalie), president of Social Media Club LA and social media and digital communications specialist.

(Hashtag #SMBLA)

To Register: “Social Media Breakfast: Social Media Monitoring and Measurement”

About Sysomos
Sysomos, a Marketwire company, is a leading global provider of social media monitoring technology. Sysomos is redefining social media analytics by giving corporations, marketers, agencies and advertisers the intelligence and insight needed to make smarter business and strategic decisions. We bring business intelligence to social media, providing instant and unlimited access to all social media conversations to quickly see what’s happening, why it’s happening, and who’s driving the conversations. Through the use of contextual text analytics and data mining technology, Sysomos collects data from blogs, Twitter, social networks, forums, video sites, and major new sources. Our products give you the ability to quickly discover the tone of the conversations and identify sentiment by gender, age, and location. For more information, visit us online at www.marketwire.com and blog.marketwire.com, or on Twitter @marketwire. Visit the Sysomos website, explore the Sysomos blog.

About Dr. Natalie Petouhoff
Dr. Natalie Petouhoff is a professor at USC, teaching Social Media, PR and Marketing Measurement and ROI courses. She has served as a Forrester Analyst in Social Media, CRM (Marketing, Sales and Service) and ROI, and as the Chief Strategist for Social Media and Digital Communications, with a world-wide practice role spanning client work, practice development, and thought leadership. She is credited with writing the world’s first social media ROI model for PR, Marketing, Product Innovation and Customer Service. She is President of Social Media Club LA (@SMC_LA), participates in Girls in Tech and is a Guest Lecturer at UCLA Anderson School of Business. To follow Dr. Natalie, check out her musings on twitter.com/drnatalie; her website where she blogs about practical how-tos social and digital, www.drnatalienews.com.

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What is Dreamforce? Does Sassy Know Jargon Will Be Attending?

Jeese Noyes and I have been exchanging emails on the topic of “What is Dreamforce?” She asked me to give her a few lines for her blog… Her’s her amazing article: http://blog.eloqua.com/what-is-dreamforce/

That inspired me to write a post and expand on that topic… here’s some thoughts… love to hear yours!

What is Dreamforce?
That’s a really good question. You could say its a conference, where analysts, reporters, customers and prospects come together to hear the latest and greatest news about Salesforce. I myself am always looking forward to seeing Sassy… I am wondering if she knows that Jargon is coming this year? He could use some love… (Jargon is the GetSatisfaction’s manifestation of all things not to do in social media… whereas Sassy represents all the things that are on target for this new social customer marketplace.)  I have a feeling love is in the air!

All kidding aside part of why I look forward to Dreamforce is that I get to see people who are near and dear to my heart. Yes, I know I’m a geek-nerd… and see tech conferences as the time to reconnect with some of the smartest and most amazing thought leaders in the industry. It is home week. I get to see my buddies in from the #SCRM or accidental community as they call it. I get to see friends from PR, Marketing and other disciplines…  And we get to banter, evaluate and analyze where the market is, where its going and what Salesforce’s contribution to the next wave of software provides for business. And we get to do some tweeting, some blogging and go see great music, have a beer or two. Life is good.

And think that more than anything Dreamforce is really a tribute to doing things differently. You may not agree with everything that’s said there. You may have your own perspective on the where the market is and what you think the week’s events mean for business. But there’s one thing that I think everyone can agree on. Its a week of celebrating doing things different.  March Benioff started Salesforce.com 1999. A former Oracle executive he had a vision of doing things different. He had the courage to step outside the box and do something so out of the box… literally his software was online… not in a box!

In 2004 Salesforce went public, under the stock symbol CRM. Marc’s vision that there was a way to do software differently. He was doubted and criticized. Twelve years later, he is truly someone to admire because his vision manifested into an amazing reality. Why? Because he thought differently and as a result of that thought leader, the whole software world has been dramatically changed.

As an analyst, a consultant and an executive adviser, thinking different is at the core of what we do. To me Dreamforce reminds me that– to advance business — we as practitioners need to remember to keep thinking different. And that’s why I am excited about being at Dreamforce. It’s a place and time to take stock of where we have come and where we will go- as an industry…

If you want to hear more good thinking different content at Dreamforce, I have to give a plug for my panel… THEY ARE AMAZING! We’ll be speaking on Aug 31 2-3PM on Measuring ROI with Social Customer Service at Dreamforce. Location: Moscone West – 3016

Come hear how companies are thinking differently about Customer Service, Social Media and getting a ROI. Take a note from Marc’s notebook… Think different or die.
@drnatalie www.doctornatalienews.com

Want to help shift the world’s thinking? Learn. Share. Grow… here’s some links to share:

Links to the social media ROI videos

Links to the social media ROI white papers

 

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Discount Code for @SMCLA / @SMC_LA Social Media Master’s Course in Social Media Monitoring and Measurement to Determine Business Value and ROI

If you are looking for some detailed information and education on social media, then consider the Social Media Club LA sessions! We have a great line-up of teachers with real-world experience! I’ll be teaching social media monitoring and measurement… The schedule is below!

If there is something particular you’d like to see covered under the section I am teaching – social media monitoring and measurement, please let me know! Here’s the discount code for 30% off: SMCLAX Use this when you go to sign up!

Look forward to seeing you there!
@drnatalie

Learn. Share. Grow!

THE SCHEDULE and MORE DETAILS – where, who is teaching, etc…
Sept 9th, 9:00am – 6:00pm

  • Building Corporate Social Infrastructure with Sam Fiorella
  • Lessons from the Facebook Trenches: Thinking Beyond “Likes” with Matt Hicks
  • Online Community Building with Patrick O’Keefe
  • Social Business, Holistic Strategy with Chris Heuer
  • Social Media Monitoring and Measurement: Understanding How To Turn Data Into Business Insights with Data with Dr. Natalie Petouhoff
  • Are You Prepared to Weather An Online Crisis? How to map your brand’s social graph and identify threats and opportunities with Sally Falkow

Here’s a bit about each course….

BUILDING CORPORATE SOCIAL INFRASTRUCTURE
It’s no secret that C-Suite execs in most large businesses have been slow to acknowledge the social economy or to formalize and fund social engagements across their organizations. But the communication tidal wave that is social media cannot be stopped and many business silos have begun their own individual efforts given the lack of executive leadership in this area.

Be it Customer Service Managers scouring Twitter feeds, HR teams monitoring LinkedIn, Marketers advertising in social networks or PR Professionals engaging social influencers, most enterprises are engaged in social relationships through disjointed efforts initiated by the customer or customer-facing departments. Therein lies the challenge for enterprise leaders; and the opportunity if they accept this call to action.

How does the enterprise adapt to the internal communications changes that are pushing it to be more open? More social? The employee’s adoption of social communication does not translate well to the kind of work groups that are formed in most businesses. So the inevitable introduction of social networking-style communication into an office culture will have powerful implications on how businesses are structured and managed. But you need to understand how to enable it without losing control of your business’ corporate vision. In this session Sam will outline:

  • The challenges that social communications will place on your
    workforce and business silos
  • The needs, abilities and challenges of generational communications
    within the organization
  • Cross-silo methodologies used to embrace and take advantage of the
    changes in how people communicate

Using real examples from the corporate world, you’ll leave the session with a blue print for your own corporate cross-silo social communication plan.

LESSONS FROM THE FACEBOOK TRENCHES: THINKING BEYOND “LIKES”
The power of Facebook for businesses goes beyond the number of people who click “Like” to connect with your Page. It’s about building relationships where people want to engage with and share your content, and it’s about building an authentic persona for your company that talks with people on their terms. This session will explore how to make your Facebook Page and other activities more personal and engaging through a mix of real-world tips, case studies, demos and group exercises. Topics to be covered include:

  • Advanced features for managing and setting up your Page
  • Developing a voice for your Page and creating the best mix of content
  • How to compete for attention in News Feed
  • Emerging opportunities beyond the Page and off of Facebook

MAP YOUR BRAND’S SOCIAL GRAPH AND IDENTIFY THREATS AND OPPORTUNITIES
79% of business leaders in the U.S., Europe, Asia Pacific and Latin America say they believe their company is less than 12 months away from a potentially serious crisis fueled by online conversations and the 24/7 news cycle. Most expect it to occur with the next year, yet they admit to being totally unprepared to manage and survive a crisis.

Almost half of those polled say they are not effectively monitoring the online conversations. They have no idea who makes up their social graph and how the nodes in a social graph are connecting and influencing one another. They don’t know who the people who shape the conversation in each social node are, or how to identify them. (Source: 2011 Burson–Marstellar Digital Crisis Preparedness Report)

This session will cover:

  • What the social graph is.
  • How to map your brand’s social graph.
  • How to prepare for the Digital Storm Ahead: Find the right conversations to track, Identify the influencers in each node, Identify threats and opportunities, Build a community of supporters before you need them, Reach the friends of your fans and followers, Train your employees.

ONLINE COMMUNITY BUILDING
The question isn’t whether or not you have a community. Your community – the people who love and support what you do – is out there. The question is how you engage with them. In this session, we’ll talk about community management and engagement in spaces you control and spaces you don’t, from Facebook and Twitter to forums and blogs. This is the art of community building on the web, both the good and the bad, steeped in real world experience.

SOCIAL BUSINESS, HOLISTIC STRATEGY
After spending the past 12 years on the top of search results for “holistic business strategy”, Chris Heuer believes the day has finally come for his insights to become part of mainstream management thinking. As the disruption caused by social media reverberates across all aspects of organizational operations and culture, market leaders are turning to social business to transform the enterprise and seize a competitive advantage. The rise of social business is not only the sucessor to eBusiness, it signals the dawn of the post digital era. Today, being digital is expected, it’s the price of entry. If you can’t think holistically, collaborate across traditional organizational boundaries, optimize your organization to act as one and earn the trust needed to truly serve your market, your business may soon be extinct.

Chris will share his insights on how to think and act like a social business along with the perspective from his colleagues at Deloitte Consulting LLP on the dawning of the post digital era.

 

SOCIAL MEDIA MONITORING AND MEASUREMENT: UNDERSTANDING HOW TO TURN DATA INTO BUSINESS INSIGHTS
With Social Media and Digital Communications becoming part of how business gets done, businesses are wondering how should they use social media to enhance their business. When social media first started, companies reacted by putting up Facebook pages, signing up for a Twitter handle and adding a blog to their website and other basic social/digital interactions. Now the game has gotten far more complicated. Without a lot of knowledge or framework around how to make sense of all the social media and digital interactions, professionals from all walks of life—PR, Marketing, Customer Service, Production Development, Engineering, etc… want to know, “How does social media affect my business? Does it:

  • Increase Marketing conversion rates and Sales?
  • Reduce Marketing and Sales costs?
  • Reduce costs for building and maintaining brand reputation?
  • Shorten Product Development cycles?
  • Increase positive word-of-mouth and awareness?
  • Decrease agent-assisted calls in Customer Service?
  • Decrease overall costs by reducing items like return merchandise (RMAs)….

Yes, it does. And the question on everyone’s mind is How.” This session will use real-life case studies to illustrate with examples so you’ll leave with tools, tips, strategy and tactical capabilities to monitor and measure the success of your social media and digital communication programs. We’ll cover the how’s, the what’s and the why’s to social media monitoring and measurement:

  • Monitoring: What to monitor and why. Who and what to monitor. Where to find the audiences to monitor. Understanding what your audiences want and care about. What free social media monitoring tools to use. What paid social media monitoring tools to use. How to set-up social media monitoring searches to make sure you get what you need.
  • Measure: Once you have the data, how to turn it into business value. Secrets to taking data and turning it into insights. What metrics, key performance indicators (KPIs) and measurements you need. How to connect metrics, formulas and calculations. Social media ROI calculations, models and methodologies to show business value.
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The Bottomline on The ROI of Social Media

One of my favorite topics is talking about how social media is really changing business. Having looked at this topic for a number of years now I still surprised that more people aren’t familiar with building the business case for social media. Regardless of what role I have had, I continue to see the same patterns. Customers not happy with a company’s products and/or services are using social channels to broadcast their frustration, and often disdain, to millions. And there are still some companies that are unsure whether social media is really here to stay and even hesitating to really dig in deep to social media. That really blows my mind!

Many companies have done the basics… get a Twitter handle and tweet or have a Facebook page… But what really sets a company apart is the understanding that just doing the basics in social media is only the tip of the iceberg. Many of you who have seen me speak on this topic know my point of view on social media. It’s not just a channel or a technology. It’s probably one of the most important contributions to business since the assembly line.

The reason? It is literally transforming business. That may sound a bit dramatic, but my point of view on this comes from my days of listening to my dad speak about working in the auto industry. He would tell me stories about a man named Edward Deming. Deming’s moto was essentially to listen to your customers and your employees. Take that feedback and integrate it back into your company. If you were successful in doing that and really making the changes that needed to be made on an ongoing basis, you’d have a very successful company.

What I’ve found most striking about social media is that — if used as an enterprise feedback tool — it is the best source of data… from both customer’s and employee’s that a company could ever dream of obtaining. And what we are seeing is that companies that realize how to use social media – across all departments — PR, Marketing, Customer Service, Product Development, Sales, Manufacturing, etc… are the ones that are truly getting huge return’s on their investment.

I’ll be doing a series of posts on this topic and go into more detail on some of my philosophies on social media and how its transforming business. But for now, I’ll share with you some links to some of the content we’ve recently created. You may have seen Kathy Herrmann and I speak on the topic of social media ROI. To help people get a better handle on this topic, we put our thought leadership together, along with Salesforce.com to produce a white paper and several videos.

Below are the links to the materials we’ve created. We hope that these help people:

  • Believe that the ROI of social media can be calculated
  • Gain a better understanding of how ROI can be calculated
  • Use this information to start to create their own business cases and
  • Stimulate a lot of discussion on the topic.

We believe that in the course of dialogue on topics like this, some of the myths will be shattered, people will begin to help each other to get a clearer understanding of the impact social media can have on their business and together we can transform not only business, but education, government and many many other things that are very important to us all! And this is ONLY the beginning!!!

I hope that these materials help you and look forward to talking with you more. We’ll be hosting several Twitter Chats on the topics in the next few weeks, so be on the look out for when and what time!

Cheers and many, many, many happy returns!

@drnatalie  Learn. Share. Grow!

Videos:
Snackable Insights Into ROI of Social Media
Episode 1: How to Build a Business Case for Social Customer Service
Episode 2: Calculating ROI for Social Customer Service
Episode 3: How Social Customer Service Benefits the Entire Company
White Paper: ROI Guide

Info on: Social Customer Service

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An Interview With CEO Jennifer of ScoutLabs.com at Web 2.0 Conference

CEO of ScoutLabs.com Jennifer Zeszut

CEO of ScoutLabs.com Jennifer Zeszut

In many companies, Marketing and PR were the first to pay attention to customers in the cloud.  Jennifer’s interview addresses some of the issues around the various functional departments within an organization and how measuring can help customer service.

Click here to hear Jennifer’s interview: CEO Jennifer Zeszut, of ScoutLabs at Web 2.0 NYC

You can follow Jennifer and scoutlabs.com on twitter:@jenniferland and @scoutlabs

And you can follow all the fabulous speakers at http://www.web2expo.com/webexny2009/

Learn. Share. Grow.

Follow me on twitter at www.twitter.com/drnatalie

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Interview with O’Reilly Author, Sean Power, Complete Web Monitoring

Sean Power, Author of  Complete Web Monitoring

Sean Power, Author of Complete Web Monitoring

At web 2.o Sean was kind enough to spend a few minutes with me on the necessity of measuring your social media initiatives.

Click here to learn more about metrics and measurement by Sean: Sean Power on Measuring Web 2.0 and Social Media

You can learn much more in his book, Complete Web Monitoring, written by co-author Allister Croll. http://oreilly.com/catalog/9780596155148/

Complete Web Monitoring By Sean Power and Allister Croll

Complete Web Monitoring By Sean Power and Allister Croll

Follow Sean on twitter: www.twitter.com/seanpower

Follow Alistar on twitter: www. twitter.com/Acroll

Learn. Grow. Share.

You can find me on twitter at www.twitter.com/drnatalie

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