When individuals think of Social Commerce the first thing that comes to mind is Social Sharing.
“Yes, I have sharing widgets on my product pages. Facebook, Twitter, Pinterest, they all get some traction but how do I increase the engagement and see a true monetary value”
This is the response that I get a lot of the time I speak with people who are looking to expand on their Social Commerce initiatives. Although most of the concern is surrounding social sharing and how to increase the engagement one of the main focus points at Social Annex is how to use social to fuel retention.
Retention is the key to creating real brand advocates. Consumers who buy from you once a year or once every couple years are not the customers that are going to be willing to recommend your products to their friends and family.
Social Commerce programs like Loyalty Programs are one of the key drivers of retention. However, when it comes to the Loyalty Program of a successful eCommerce site we are looking at much more than just giving points for purchases and actions like registering for email campaigns. When expanding on a Loyalty Program with Social Commerce Elements, Retailers now have the ability to reward users for their Social Sharing, Friend Referrals, Like’s and Follows, as well as taking actions such as writing ratings and reviews. Such a Program is what just generated tons of excitement with the new release of Kate Spades “Saturday” line.
Although this is new adventure for companies like Kate Spade, clients of ours such as Abe’s Market have been killing it with very similar Social Loyalty Programs. At Social Annex we understand the pain and importance of retaining customers which is the main reason why we have built successful programs that are unique and enticing for your customers. We are here to help and we would love to chat. For more questions surrounding Social Loyalty or Social Commerce feel free to reach out, we would love to chat!
By Jake Madrigal