Tag Archives: commerce

Social Commerce & the Twitter Buy Button

Today Twitter announced a ‘Buy Button’ as a new feature to its service. As Bloomberg News put it, “For Twitter, a tweet will soon be more than a form of communication or an ad — it will be an invitation to buy.”  The new buy button is enabled by Twitter Cards which have up to now been used to enhance tweets with features like media, photos and media experiences.

While the ultimate purpose of Twitter Cards is to drive traffic to your website, Twitter offers eight different card types, three of which are specifically designed to drive action from tweets. After enabling Twitter Cards, users are able to track analytics such as impressions and URL clicks. These analytics are used to provide insight on how your content is being shared.

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Comparing Chirpify and Twitter Cards is similar to comparing a whole pie to its ingredients. With Twitter Cards, marketers are presented with a variety of options to optimize conversion, but are left to mix and match them on their own. And it’s still a ‘silent click.’ Analytics provide some insight into the success of campaigns but they stop at engagement— with no real insight into ROI. 

At Chirpify, we enabled true social commerce (purchase and payment with a single comment) on Twitter, Facebook and Instagram over 2 years ago. What we found is that brands think of social commerce as a small subset of a much larger opportunity: Marketing Conversion.

Today Chirpify’s Marketing Conversion Platform enables brands to…

  1. Convert marketing from any channel (TV, In-store/venues, mobile, digital, billboards) from consumers using any device
  2. Attach social identity for attribution to every conversion
  3. Determine advertising performance and ROI across each of these channels

Twitter’s move into commerce doesn’t compete, but rather helps Chirpify.  Any time one of the major social platforms enables a Chirpify feature, we get a lot of interest from brands looking for a solution that works across all social platforms, all advertising channels and for any marketing messages.

In 2014 alone, over 100 brands and more than 500,000 consumers have used Chirpify Actiontags to respond via social (Twitter, Facebook & Instagram) to advertising and content on TV, at concerts & events, and in digital/social channels.

Why Facebook & Twitter are Entering the World of Online Commerce

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Consumers today value simplicity and convenience. Social media has significantly contributed to this by simplifying information to as little as 140 characters and allowing users to filter what information they receive, whenever they want. Social has also created a more interactive platform for consumers. It is norm for users to share, retweet, comment, like, as well as various others activities on a daily basis. Twitter and Facebook are trying to take simplicity and convenience to the next level by enabling their platforms to be centralized locations for online commerce. These two social media giants are working towards making the word “buy” a social media norm along with the rest of the standard activities – something that is very meaningful to us here at Chirpify.

AdvertisingAge recently published an article which highlights the moves that both Facebook and Twitter are making to enter the online commerce space. Facebook released the “buy” button, which allows consumers to purchase products by simply clicking a button on an advertisement or original post. Techcrunch further explains that the entire purchase flow will occur completely on Facebook. Personal and credit card information can be stored on Facebook to eliminate even further online purchase time. However Chief Operating Officer Sheryl Sandberg emphasized the aim is to streamline the transaction process for sellers, and not for Facebook to become a seller itself.

In a counter move, Twitter acquired CardSpring, a payment startup that allows developers to write application systems for payment systems. 

image With these two major moves, one has to wonder the motivation behind these investments. It brings us back to the idea of simplicity and convenience. Consumers seek frictionless commerce. To further expand on this idea, lets map out a traditional online purchase. You may see an advertisement online for a new line of product, click that advertisement, search the website for the correct product, add it to your basket, input multiple pages of personal information and finally you have made your purchase. With these new solutions, it significantly cuts down that friction. You simply click one button, potentially enter in some personal information (if you are a first time user that is) and the purchase is complete.

Chirpify has been enabling that simplicity and convenience for major brands across multiple industries. We understand that consumers want activities completed as quickly as possible and our Actiontags have worked to accomplish this. We have been able to harness this understanding and expand across multiple marketing channels such as billboards, TV and in-venue. We have already been able to see huge successes for both commerce and attribution for our clients using Actiontags and we are happy the rest of the industry is making moves to allow consumers to engage seamlessly. If you are interested in learning more about how we are using social media for cross channel promotion, join us for our upcoming webinar by registering here

 

3 Ways to Drive Revenue Through Social Media

The never-ending discussion around Social Media ROI has morphed into several definitions over the past couple of years. Where it becomes particularly interesting is during the holidays, when brands and companies use social as a channel to drive people to make purchases more than any other time of the year. Before the 2014 holiday season comes and goes, it’s time to lay out the groundwork for how brands will drive direct revenue on social- and it’s not just about referrals anymore.

People are shopping via their mobile devices so it’s no surprise that channels like Pinterest and Twitter were among top referrals to the eventual purchasing funnel last year. One study found that consumers are 71% more likely to make a purchase based on social media referrals- but why not make the purchase (or any sort of brand-to-consumer exchange) directly in social? The odds of a purchase greatly increases when you create a shortcut for the consumer.

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1. Direct commerce

Then: This usually works by promoting a particular product or sale and linking from social to a microsite or product page. Brands have placed value on trackable referral links from social to determine if social consumers follow through with purchases. This has mostly been dependant on social discovery- not commerce.

Now: Rather than driving people away from social channels- brands can now use Actiontags for in-stream commerce. These are specific hashtags that brands can promote within their campaigns that consumers can use on Facebook, Twitter and Instagram to actually make a purchase (#buy #newproduct). This is similar to #Amazoncart but works across social channels and is accessible to brands’ individual marketplaces. By keeping the transaction process within social, conversion rates are often much higher.

2. Discounts and Promo Codes

Then: You often see brands offering special holiday promotional codes that may be unique to their social followers or email subscribers. This allows insights in determining where your customers are that are most likely to make a purchase. By individualizing codes, you can learn which channels drive more purchasing, but you still can’t connect the social ID to the purchase- something become important for digital targeting.

Now: Brands can offer a promotional code to social media users who ask for it. Instead of a silent click on a promotional link, brands are asking their social and email audience who want a code. Those who opt in, using Actiontags (#want #promo) instantly get replied to with the code and a link to continue to their purchase. This way brands can pin-point their shoppers within their audience, create direct dialogue with their participating consumers and amplify your brand message at the same time- as all followers of those who opt-in will also see the message.

3. Data, Data, Data

Not a direct form of commerce from social media, but companies are now starting to put a high price on knowing who their most engaged and likely-to-purchase social followers are. Leading up tp the holidays, brands should know what their audience wants from them in social and which channels work best for generating sales. Knowing whether your audience wants good content, good deals, or product exclusives can set you up for success during the holiday season.

»sMajor brands are already starting to plan what their social and email strategy will be leading into Black friday and holiday shopping.  If they test now, they can put their learnings to use and turn insights into strategies.