So here’s a great presentation from Business Insider’s Henry Blodget on the future of social commerce.
Most incisive deck we’ve seen for a while. Lot’s of great stats – and smart insights
What you need to know:
Social media is a source of only a tiny proportion of e-commerce traffic (< 5%) , and yields lower conversion rates (less than 1/4 email) and smaller order sizes (less than 1/2 email)
The opportunity in social commerce is to help people shop smarter (make better buying decisions) rather than drive e-commerce [traffic] from social sites. Specifically the two big social commerce opportunities are
Use social to help people save money
Use social to help people choose what to buy
For the vendor, the value of social commerce is to sell people stuff they didn’t know they wanted to buyby helping people save and choose smarter - increasingly via mobile platforms.