At what point do retailers embrace the social shopping sphere? From reviews, comments, payments, marketing and brand voice, where and how do they begin? There are so many social networks and sites here today gone tomorrow that retailers and brands are concerned that there either too late, too early or will waste their money on something that could potentially damage their brand and reputation! Equally they feel that they are missing out on this new ‘Social Shopping’ (Look at Dell who have attributed $2million in sales thanks to Twitter) and would like to get their brand and company in there but in the most effective and timely way.
Brands and retailers do need to be aware of the burgeoning ‘social space’. It can be as it is a vital lifeblood to support their overall positive position within the marketplace, helping them to be seen as forward-thinking and innovative. It is also the vehicle that may drive many businesses forward in the coming years. Some may look at networks and such as Twitter, Facebook or MySpace and think they are niche plays – and it does not really affect them. If brands want to meet their audience, they need to connect with them in the correct forums. This is not the case. For example 70% of Twitter users in the UK are over the age of 35 (comScore Media Metrix) Retailers should be aware of and monitor the social ‘chatter’ that resonates around their brand. They have to understand where the chatter is, how to track it and ultimately what to do with it. This responsibility typically sits with marketing or brand teams as they are often the official gatekeepers for the product or service. Retailers can then decide if there is a need or desire to connect with the network or forum – but what they do and how they interact is equally important:
1. Sit there and do nothing = can sometimes imply apathy and lack of understanding to the community
2. Push Push Push = using the community solely for gain and monetary advancement
3. Defend & Answer = defensive stance that shows again that the brand is only interacting to trouble shoot issues
A more strategic approach is to observe what’s happening on the networks and look to PULL rather than PUSH – by viewing these communities as a channel to discuss / share / collaborate and improve their business. That in turn will start to create trust and respect from users. This is the social commerce that is becoming more prevalent in many industries today. As far as monetisation is concerned, this is a new economy and so it is too early to put a firm monetary value on its aggregate worth. However, in terms of positive brand visibility, its value is easy to see.
Whether you enter the ‘social space’ now or in the future, it does not make a difference - the Twitter of today could become obsolete next year. What is key is that you are aware of the most relevant social media, and ensure that you have the most the most appropriate level of interaction with them. Look within your company to see who could be a good spokesperson(s) to help channel the discussion and not be seen as an ’invasive intruder’ that is there to spam and sell.
Top Tips for the embracing the social shopping sphere:
1. Look & Review the social sphere – who is on there, what is the nature of the communication, are competitors on there, what are they doing, what is the reaction, is my brand / company being discussed?
2. Decide & Act after “Look & Review” where your participation level sits – passive, active, influencer - where this will sit within your business, who sets the tone of voice etc..
3. Pull not Push - Remember that this is not necessarily a PUSH marketing vehicle but gathering new currency of social commerce that you will want to keep and maintain
4. Trust & Reward – If you are an active participant trust the voice of your network and reward them – that can be through various methods and means – could be tips, help, advice
5. Innovate - Look to go beyond the traditional methods and where this new found network can benefit your business – product reviews / brand placement / services etc
As Twitter is the media darling just now much more so that Facebook or MySpace, it’s interesting to note the activity on that medium. Of course Twitter in all essence is NOT a social network per say but in fact a communications network (as we have seen with the breaking news recently) with social features (friends & followers) While at the same time it’s also very interesting to see who is actually responding and building up a reciprocal network – by how many they follow
It is supposed to be uber cool if you only follow a handful of cool people – but then there is the perception that you’re not really listening and you are there as a “push” medium only.
Twitter is still in its infancy and will start to see more with Twitter over the next 18 months (but at the same time towards the end of the year – there will be a new kid on the block that will take the social commentary even further!!