eCommerce - Engaging in the Social Media conversation
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Massive adoption of social networking websites such as Facebook as well as the commonality of reading reviews and ratings on online shopping sites such as Amazon have transformed the Internet into a “Social Media” platform prone to enabling conversation between users.
In “Groundswell: Winning in a World Transformed by Social Technologies” published by the Harvard Business Press, Charlene Li & Josh Bernoff, both from Forrester Research, state that:
“Right now, your customers are writing about your products on blogs and recutting your commercials on YouTube. They’re defining you on Wikipedia and ganging up on you on social networking sites like Facebook. These are all elements of a social networking phenomenon – the groundswell – that has created a permanent shift in the way the world works.
Most companies see it as a threat. You can see it as an opportunity.”
The conversation about your products and services, about your policies even, has started and is going on online, whether you want it to or not.
These conversations influence the perception of your products and your brand and ultimately impact your bottom line.
A study from JupiterResearch reveals that “77 percent of online shoppers use consumer generated product reviews/ratings and those who find them useful are more loyal to stores with reviews/ratings featured”.
A 2007 global survey from The Nielsen Company reveals that:
- 78% of online shoppers ranked Recommendations from consumers as by far the most trusted form of advertising.
- 66% of North Americans considered Blogs as reliable sources of information.
The opportunity for organizations is to take part in the conversation, better even - to initiate the conversation before it starts somewhere else. And if it starts somewhere else - to have the means to track these spontaneous conversations and engage in them.
It is your call whether you want to welcome the conversation on your branded website or if you want to join in somewhere else where you might have to struggle more for your credibility.
Tags: brand buzz, conversation, forrester research, products and services, ratings, recommendations, social media
