By Linah Kim
With the holidays rapidly upon us and economic predictions still looking grim, online retailers want the biggest increase in sales possible, while savvy consumers are demanding more online discounts and online coupon codes to help them get the most value for their buck. Social media is a important key for retailers as interaction with consumers becomes a critical part of the shopping process. Fredrick Njim, the CEO of social commerce marketplace website Addoway, says that ?We have seen that shoppers referred through social media channels were more than ten times as likely to make a purchase than those referred from a comparison shopping engine. During the holiday season, we have seen an increase in the number of sales happening through social media as well.?
A number of e-commerce merchants are using social media to promote products and deals during holiday season, and customers are definitely taking advantages by sharing information about the products, purchases and getting recommendation from friends. Here are a few way of how social media might influence consumers while they make their holiday shopping decisions.
Product feedback ? Before making a purchase, consumers look at the reviews on retail sites like Amazon.com or Yelp. Shoppers will often trust friends, family members, and even complete strangers over marketing copy.
Special offers/giveaways ? the coupon is a classic method to measure engagement in any forum, so companies will often post ?Facebook-only? or Twitter-only? online discounts to keep their audience in the loop. Location-based services such as foursquare allow merchants to offer special deals for consumers who check-in or become the mayor.
Wish list sharing - Online retailers like Amazon.com enable consumers to share their own wish list directly to friends and family or publish their lists to Amazon?s site as guides for other browsers. The lists effectively become curated shopping lists for other consumers, whether their shopping for their network or themselves.
Daily Deals - Daily deal sites like LivingSocial.com and Groupon.com will always push their deals through social networks. Most deal sites require a certain amount of shoppers to buy in before it ?tips,? giving early adopters an incentive to get the word out. LivingSocial gives shoppers the added incentive of earning a free deal if they can get three other people to buy it through a unique referral link.
Coupon Codes ? retailers are always testing new ways to entice buys to either plan to shop or shop on impulse. Coupon codes, offered through affiliate marketing efforts, provide a free online discount just for registering with the coupon code site or retailer?s database.
How has social media changed your behavior and views on shopping? Tell us by commenting on our blog or tweeting us @CouponTrade.
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