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- 1. Personalized Shopping Experienceto Increase your Sales Leveraging Social Commerce Solution Nov 17th, 2011 Bharath Yadla Practice Head – Social Commerce & Cloud Integration
- 2. Topics 1. Explosion of Social Media in online commerce 2. Multi-Channel strategy - a must, sell where the users are 3. Personalized Recommendations – a Key ingredient of Social Commerce 4. About ZSL SmartPrise Social Commerce 5. Demo 6. Next Steps…
- 4. Where is themarket going?
- 5. Where is themarket going? Exhibit Booz & Company Estimate of Social Commerce Market Size (2010-2015; in USS Billions) $30 $20 $14 $14 $9 $9 $5 $5 $3 $16 $8 $12 $4 $6 2010 2011 2012 2013 2014 2015 Note : Numbers might not add up because of rounding. Source : Forrester Research; GP Bullhound; Euromonitor; Booz & Company analysis
- 6. Explosion of SocialMedia in Commerce Source : Nielsen Q3 2011
- 7. What is SocialCommerce Social Social commerce is a subset of electronic Commerce as commerce that involves using social media, online media that supports social defined and interaction and user contributions, to was first assist in the online buying and selling of introduced products and services by We believe that it is all of this and more. We define social commerce as: "The use of social strategies to anticipate, personalize and energize the shopping experience."
- 8. What is SocialCommerce Dr. Paul Marsden, Syzygy Group Social Commerce Defined E-COMMERCE SOCIAL COMMERCE SOCIAL-MEDIA Buying and selling The monetization of Online media products and services social media with supporting social online e-commerce interaction and user contributions Recent Examples of social commerce 1-800-Flowers, setting up the first online retail store embedded into Facebook US fashion chain The Limited creating a newsfeed store on Facebook allowing users to buy directly from within newsfeeds Dell offering a 'deal feed' on popular micro-blogging service Twitter, netting it over $7m in sales Amazon & Best Buy extending their reach beyond their sites with social media services such as social bookmarking 'universal wishlists’ Food processor brand Blendtec seeing a series of humorous 'Will it Blend?' ads to social media platforms, and in doing so increasing sales by 500%
- 9. Multi-Channel Strategy –Cannot Ignore anymore
- 10. Multi-Channel Strategy –Cannot Ignore anymore Source : ChannelAdvisor 2011
- 11. Multi-Channel Strategy –2 Major Strategies 2 Strategies SOCIAL & Mobile MEDIA ON E-COMMERCE E-COMMERCE ON SOCIAL & Mobile MEDIA PLATFORMS PLATFORMS Helping people connect where they buy Helping people buy where they connect
- 13. Being Relevant onWebsite is important
- 14. Personalized Recommendations – Key to Social commerce
- 15. Personalized Recommendations – Key to Social commerce Source : JWT, 2011
- 16. Personalized Recommendations –A Bigger Value Recommendation Engine for Social Commerce Revenue, Acquisition, and Few Current Users, Many Ready Customer Satisfaction: the Goals to Adopt Fully 48% of our respondents are interested in deploying The answers, not surprisingly, centered Roughly 10% of our respondents already recommendations for a B2 ecommerce on revenue (63%), customer acquisition use a recommendation engine. Of those application. 35% indicated that they (55%), and customer satisfaction (80%0. not currently using a recommendation would use recommendations on a B2C In North America, employee productivity engine, a quarter plan to deploy this site. Only 19% were interested in was also an important goal for 50% of year, and another 20% plan to deploy in applying recommendations to a respondents. In Europe, it was important 2011. So it seems that about half of our corporate Web site to no respondents. Retailers are more respondents are pretty hot on the idea of focused: they had one goal, and it was recommendations. Retailers unanimously revenue chose 2011 for deployment Source : Patricia Seybold recommendation engine market survey
- 17. Social Commerce –User perspective “Personalized & Social recommendation is the back bone of Social Commerce Strategy.”
- 19. Six Dimensions ofSocial Commerce Forums & Communities SMO • Discussion forums • Retail blogs • News & Deal feeds Social Shopping • Social media events & • Customer communities sharing • Social media stores • Link building • Group buying & gifting • Social shopping portals Recommendations & Social Ads & Apps Ratings & Reviews Referrals • Social Ads • Customer ratings & reviews • Social bookmarking • Social Apps & Widgets • Expert ratings & reviews • Referral programs • Sponsored reviews • Social recommendations
- 20. Market Challenges B2Cbusinesses with web & mobile properties have the top 3 challenges, more so with Publishing, Retail, Travel, Entertainment… Revenue or Transaction ability Consumer acquisition Consumer satisfaction However, most businesses today struggle to address the above challenges because They don’t have a personalization strategy nor successfully implemented it They don’t have a clear Social CRM strategy To address the above challenges the businesses need to Provide a very personalized & relevant consumer experience Follow the consumer on the social platforms We help the businesses address this challenge by offering a Personalized & Social Recommendation Engine for their web and mobile properties.
- 21. About ZSL • 15+ years Global Technology Integrator & Business Solutions Provider, Headquartered in Edison, NJ • State-of-the-art Technology Research & Development Centers in US, Canada and India • 4000+ employees with offices in US, UK, Canada, France, Germany, Malaysia, Singapore, Middle-East and India • Dedicated R&D Division to Offer Value Added R&D Services & Product Development Services to the ISVs and SPs • Emerging Technologies Specialization with the leading technology vendors alignment • Pioneer in Industry Solutions Development (Insurance, Finance, E-Governance, Consumer Electronics, Pharmaceutical & Telecom) • Award Winning & Proven Partnership Program “Get IT Together” Partnership for ISVs, VARs, SPs and SIs • ISO and CMM Certified Solution Provider 2
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- 23. SmartPrise Social Commerce– Personalized & Social Recommendation Engine Personalized & Social Recommendation Engine Sources Relevant and Personalized Recommendations for the Consumer’s need. Enhances Social Relevance through personalized Opinions & Coupons from friends & social networks. Increases the Consumer Transaction-ability (visit to buy) with 30-50% sales lift. Acquires new Consumer-base (15 to 20%) through powerful viral loops. Works on various touch points like web, facebook, smart phones (iPhone, Android…). Social Analytics & CRM Monitoring – extracting consumer insights from social sphere Profile mapping Middleware – Integration of all customer facing touch points Measuring & Insights to sentiment
- 24. Intent Based, ContextDriven Personalization Opinions Personalized & Social Recommendation Engine Persona in Pivoted Pleasant Social Search Surprise Networks Past Personal Popularity Peer Proximity Usage Actions Profile Influence
- 25. SmartPrise Commerce solutions SmartPriseCommerce for SmartPrise Commerce for Retail Online Media • Social Commerce & Personalization • Personalization solution for Online Media solution for Retail SMBs • Personalized & Relevant News, • Complete commerce solution content • Social Enabled • Social Enabled • Personalized recommendations for • Relevant Gossip customers • Social Commerce & Personalization for Magento Commerce • F-Commerce & M-Commerce Solutions • Social Commerce & Personalization Solutions for IBM Smarter Commerce
- 28. Ready for SocialCommerce Solution – Next Steps • Get a Strategic assessment – How to enable your store on facebook & mobile (multi-channel) • Pilot Study – How to give your customers “Personalized shopping experience” • Not Convinced yet? - Want to see how your store looks like with our SmartPrise Social Commerce – Feel yourself, request for your own DEMO STORE setup
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