Do you want to be a master in social commerce? If so, retailers like you must check out on these important business terms mentioned below:
Business News Daily’s (BND) first question was, in what fundamental way will Twitter’s upcoming Buy button (and similar E-Commerce/social media integrations) change the way consumers and businesses approach shopping/selling?
Scott Lachut answered, ”with the growth of various channels like online, mobile, social and in-store consumers are now in a better position to have so many ways to discover new products. Retailers and brands also quite naturally look for services that enable them to meet these potential customers. Retailers can use these channels not only to increase opportunities for customers to make a purchase, but also to create a round up experience on these platforms focusing on customer service, fulfillment and loyalty.” He also said, ”if you wish to get consumers to adopt new behaviors, it is important to think the full engagement through before unleashing it on your customers.”
While answering a question of BND regarding how these new tools will affect social media marketing strategies, Scott said, ”these new tools will become one more set of experiences which brands and retailers will offer their customers.” As per his opinion, the reality is that people choose to interact with a company for a variety of reasons, which is beyond purchasing an end product.
BND then asked whether he thinks Buy buttons will become standard across all social channels. And Scott said this again that he thinks will become another experience that retailers and brands can begin to offer as a subset of their customers who know what they want and are comfortable with these types of transactions.
As BND asked, how social media will be used to collect customer information, Scott explained by saying that all the “personal interactions” should be transparent. ”These channels should try to gather the consumer’s social footprint by explicitly asking for it, moreover ambient listening can also be a help in this process. But to get intimate knowledge, known interactions with a retailer or brand can be the only way.” He also mentioned about another scope when people will begin to take ownership of their personal data using services like DataCoup, meaning that it’s stored in one place and is theirs to control and share with the companies they trust.
BND’s next question was as anyone can create social media accounts, what mechanisms will be implemented to verify identity when shopping on social media?
According to Scott, ”One solution is – Facebook, Google and such other companies will likely to enhance leveraging their platform as a trusted and secure means of establishing an online and financial identity which they are already doing to certain extent. Beside this, unique biometric identifiers, like fingerprints or heartbeats, will be coupled with sensors embedded in the laptops and mobile phones to become the arbiter of identifying who’s on the other side to complete a verified transaction.”
As BND picked up the topic of ‘Shoppable” videos and asked him about other social shopping innovations the future might hold, he mentioned regarding mobile phones which will popularize the idea of “retail anywhere.” As those mobile databases will become truly powerful platforms, the retailers must make sure the products are searchable.