Connected Consumption

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  • 1. imagebyPanoramas connected consumption trendsinsocialcomputingand eCommerceanePaperbysidneyevematrix

2. .2. 60% retailershaveAlthoughit'sbeenaroundforyears,thesocialshoppingtrendpeakedduringtheDecember2009holiday virtualstorefrontsseason.Moreretailersandconsumers onFacebook2areonlinethaneverbefore. accordingtotheInternet RetailerTop500Guide1 imagebykaylacasey 3. .. 47%3AreportbyShop.orgindicatedthatalmosthalfofbrickandmortarretailerswereplanningtoincreasetheirinvestmentsintraditionalretailersonlinesocialmediacampaignsforthe2009holidaybuyingbinge.3 increasedSMMforholiday2009Thatgrowthis,accordingtoReuters,duetothefactthatadvertisersperceivesocialmediamarketingchannelshavematuredconsiderablysince2008,becominganimportantpieceofacrossplatformpuzzle.AccordingtotheHarvardBusinessReviewconnectedconsumerism4isoneofthekeyeconomictrendsfor2010.Likewise,theannualFEEDReportfromRazorshannouncedthemainstreamingofsocialcommerce 5occurredinmid2009. image:ThomasHawk 4. Privacyconcernsaside,peopleare .4. embracingtheopportunityto narrowcastourretailtransactionsand Socialmediamarketingencourages publicizeourconsumerpreferencesto friends,fansandfollowers. bondingoverbrands andbargains Asaresult,socialshoppingistaking inanetworkedculture. brandaliationandambassadorship toawholenewlevel.imagebyhfabulous 5. imagebyAlwaysBeCoolAccordingtoauthorMitch Joel,thepowerofsocial shoppingis"theabilityto connectdirectlywiththe brandandbuildfriendships withindividualswhohavelike6 mindedinterests." Thus,thesocialglueof consumercommunitiesis loyaltytoasetofshared valuesand/orsimilarlifestyle choicerepresentedbyour preferredbrands. Itisnosurprisethen,thatopt insocialshoppingritualsare emergingasthenext mechanismforelevating companiesandbrandsto (whatSaatchi&Saatchicall) Lovemarkstatus.7 .5. 6. imagebyfreefotouk Thestagewassetforthepopularizationofconnectedconsumptionaswebusers becameaccustomedtothepresenceofrecommendationenginesoneCommerce 8 sites,andtheincreasingnumberofbrandsonsocialnetworkslikeFacebook. Whereasfewpeopleadmittotrustingadvertisingmessages,mostofus(70% accordingtoNielsen)willadmitweusesocialcomparisonmodels,peer.6. 9 recommendations,andfriendreferralswhenmakingpurchasedecisions. 7. image:ickHarrisTrendsinonlinesocialshopping helpconsumerswhoareplagued byindecisionandoftenabandon theirelectronicshoppingcartsin frustration,observesNatalie ZmudaatAdvertisingAge. 10ResearchersatMcMaster's UniversityinCanadademonstrated thatpartoftheproblemwith traditional(nonsocial)online shoppingisthat,"ecommercetypicallylackshumanwarmth andsociability,sinceitismoreimpersonal, anonymousandautomatedthantraditional facetofacecommerce."11Butaddingjustabitofsocialinteractionandpeertopeeradvice,viaalivechatclient ormessageboards,canmakethedierenceatthemomentofimpassebetweena completedpurchaseandtheshopperbouncingtoanother,moreinforichsite..7. 8. AsresearchersattheMITMedia Labhavepointedout,the emergenceofthesedigital, interestdrivenshopping networksiscontributingto consumersbecomingmoreinformation aware.12 imagebyratterrell Thisinturndrives: comparisonshoppingtrends increasedparticipationin loyaltyprograms,and creationofvaluable(and inuential)usergenerated content. Allofwhichissuretoplease eCommerceretailersandsocial mediamarketers.imagebyratterrell .8. 9. .9. Acollectionofnewsocial shoppingappsforsmartphone userspromisestosimplifythe processofsharingpurchase historywithfamilyandfriendsas socialshoppinggoesmobile. TheiPhoneand3rdpartyapp developmentisanother foundationalelementsupporting structuresofconnected consumption. iPhoneistheplatformformobile socialshoppingcampaigns,since researchshowsusersofthis smartphonebrandhavethe highestclickthrurateforanimated 13 mobileads.imagebySamiKeinanen 10. .10. Althoughit'snotnewsthatweconstructandcommunicateouridentitiesthrough consumerhabits,it'slikelywe'veneverdonesoquitesopubliclypriortothemass adoptionofsmartphones. Ontheirhandheldsmobileshoppers,theatregoers,diners,andcafecrawlersare layingdownasetofdigitalfootprintsthroughthemalls,shops,and marketplacesatrailofP2Preferralsforfriendstofollow. Nosmallwonderthatarticlesabouttheadvertisingpotentialofgeolocosocnet14 appslikeFoursquarearepoppingupallovertheweb. imagebyAndyWilson 11. Resources Cited 1. http://www.directnews.co.uk/news/onlinemarketing/socialnetworking/over50oftoperetailershavefacebookpresence$1337549.htm 2. http://cm.media.mit.edu/publications/connectedconsumptionhiddennetworksconsumption 3.http://www.utalkmarketing.com/pages/Article.aspx?ArticleID=15864&Title=Retailers_rely_on_social_media_advertising_for_Christmas 4.TheHarvardBusinessReviewsocialtrendreportiscitedinhttp://socialcommercetoday.com/harvardbusinesson6socialmediatrendsfor2010/ 5.RazorshannualFEEDreport:http://feed.razorsh.com/feed09/digitalprimacy/ 6.MitchJoelonsocialshopping:http://www.twistimage.com/blog/archives/socialshoppingtakesholdasthenexthotonlinesocialnetwork/ 7.Saatchi&Saatchionbrandlove:http://www.lovemarks.com/imagebyAlinaKulesh 12. 7.Saatchi&Saatchionbrandlove:http:// www.lovemarks.com/ 8.BrandsonFacebook:http:// www.insidefacebook.com/2009/02/16/ facebooktolaunchredesignedpagesfor businessestourrstimpressions/ 9.Nielsenonconsumertrustinadverts:http:// blog.nielsen.com/nielsenwire/consumer/ globaladvertisingconsumerstrustreal friendsandvirtualstrangersthemost/ 10.InterviewwithNancyZmudafromAdvertisingAge:http://www.crainsdetroit.com/article/20090413/EMAIL01/904139962# 11.ResearchersfromOntariosMcMasterUniversity:http://is.gd/91b7r 12.http://pubs.media.mit.edu/pubs/papers/main.pdf 13.http://mashable.com/2009/05/06/iphoneshoppingsavings/ 14.iPhoneusersclickonmobileadverts:http://www.bizreport.com/2009/10/study_cpg_auto_scoring_well_in_mobile.html 15.Geolocoadverts:http://www.mediastyle.ca/2010/01/mobiletechopportunityinfoursquare/ imagebyArmanoMaynez 13. imagebyCWMc about the authorSidneyeveMatrix,PhD.Queen'sNationalScholar,Film&Media,Queen'sUniversity,Canada.Blogger,Speaker,Professorteachingdigitalculture,masscommunication&marketing,popculture,television,&lmcourses.Website:sidneyevematrix.comAttributionNoncommercialShareAlike3.0License.