Download - Social commerce- the transformation of e commerce with social computing

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Ranan Bhattacharya, PMP, CSM

30 August 2013

Social Commerce: The transformation of

eCommerce with Social Computing

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Social Commerce : Transformation of eCommerce with Social Computing

Agenda

• eCommerce 1.0 to eCommerce2.0

• Business Strategies

• Challenges

• Business Transformation

• Project Management Transformation

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Transition : eCommerce 1.0 to eCommerce 2.0

• Problems with eCommerce 1.0– Quality of the good– No return policy– Solo experience

• Changes with eCommerce 2.0– Networking to reach out to a bigger

mass – Shoppers can Review & Compare– On-Time delivery– Cash On Delivery– Easy return policies

eCommerce 1.0

Category Managers

Content Editors

Marketing

Sales

Technology

eCommerce 2.0

Moderators

Community Managers

Product Managers

Sales


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Strategies for Business Transformation - Enhance brand with seamless social sharing

• Reach bigger

audience

• Create product

awareness

• Use customers to

spread the brand

• Before Purchase - People do a market research about a product

• During Purchase - Users look for options to personalize or customize

the eCommerce portals

• After Purchase - Users start sharing her experience


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Strategies for Business Transformation - Multiply sales through recommendation

• Awareness does

not bring revenues

• Repeat business

and referrals

generate business

• Existing customers

work as Marketing

partners


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Strategies for Business Transformation - Improve engagement via loyalty & gamification

• Introduce rewards,

recognition, loyalty points,

badges, special status

• Use Gamification to

stimulate connections for

more interaction

• Change the customer

engagement from

Awareness to Advocacy

** Studies have shown that users spend more time on the social networking sites when proper user management and loyalty programs are introduced


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Strategies for Business Transformation - Measure market trends using social analytics


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• Provide Market trends & preferences

• Used for targeting & personalization

• Independence from physical survey & manipulated data

• Some of the examples of Analytics reports are– Trackbacks report shows you which sites are linking to the

merchant’s portal– Data Hub Activity report shows you how people are talking

about – Network Referrals to see engagement metrics (Pageviews, Avg.

Visit Duration, Pages/Visit) Cash On Delivery– Social Visitors Flow shows the initial paths that visitors from

social networks took


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Challenges on the way of transformation

• Social Network is private space

• Social space is not to be used primarily to ask for Buying

• Push for ‘Buy’ sometimes treated as a negative signal

• Stay simple during the changing trends & stiff competition

**Forrester's research report says 36% people dont like to receive mails even from

their most favorite retailer


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Simplified Social integration for End Users


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The business transformation in eCommerce space Traditional eCommerce Social eCommerceImplementation Dynamics Inventory Management &

traditional supply chainResource optimization with delayed integration

Business Case Merchants develop online store with a channel to pay online

Retailers provide online store with plug-ins for users to compare, buy & share experience

Business Processes Branding, Marketing & Sales Create awareness, engage & retain

Choice Of Products Comparison buying is not possible Comparison buying is possible

Financial transactions Physical financial transaction with limited options & offers

Multiple payment options with various loyalty programs, reqards & offers

Cost Higher LowerReliability Based on brand value Higher, references by known

circle of peopleFlexibility Lower, resources available from only

one inventoryHigher, resources available from multiple marketplaces

Frequency of Transactions Smaller frequency with higher value per transaction

Mass market but lower value per transaction


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Project Management practices for the Business transformation

Stakeholder Management

• Identify the changing trend of the users• Select the right target audience• Stay engaged with customer

Communication Management

• Create awareness about your brand• Increase brand value by sharing customer’s

reviews• Influence buyers with rewards, points, vouchers

etc.

Human Resource Management

• eCommerce 2.0 needs organizational restructuring

• Introduction of Community managers


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Conclusion• “If you lose money for the firm I will be

understanding. If you lose reputation I will be

ruthless.” - Warren Buffet

• Marketers are no longer interested in mass-marketing

• Reach individual with specific preferences, passions and

interests

• Better understanding of your customers

• Increased engagement from the users

• Users feel rewarded and recognized

• Businesses enhance branding & marketing reach

through referrals & repeat business


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Download - Social commerce- the transformation of e commerce with social computing

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