9 WAYS TO INFLUENCE SOCIAL BUYING BEHAVIOUR

R E A D O N T O F I N D O U T M O R E

W I T H R E F E R R A L M A R K E T I N G

THE POTENTIALSocial media can prove to be powerful business asset, particularly from a user acquisition point of view.

Internet retailers are shifting gears to determine the social commerce success formula used to perform in an increasingly b u s y s o c i a l space.

TOP 5 DIGITAL TRENDS

2 0 1 6

01 VIDEO02 INFLUENCERS03 THE BUY NOW REVOLUTION04 SOCIAL LISTENING AS SOCIAL INTELLIGENCE05 CROSS-DEVICE CUSTOMER JOURNEY MAPPING

THE BUY NOW REVOLUTION TREND.

Online retail marketing executives are of course most concerned with

9 ELEMENTS OF INFLUENCE

FREE SHIPPING OFFER | 63%

EXCLUSIVE DISCOUNT | 56%

DAILY DEALS | 55%

SEEING A UNIQUE PRODUCT | 55%

REWARDS/LOYALTY POINTS | 52%

SEEING A PRODUCT I HAD RECENTLY VIEWED | 52%

A PRODUCT HAS RECEIVED NUMEROUS LIKES | 37%

ABILITY TO VOTE PROMOTION COMPANY OFFERS | 35%

A FRIEND HAS LIKED A PRODUCT | 33%

BUYBUY

% OF RESPONDENTS

Factors that would encourage US Digital Buyers to make a purchase via social media when holiday shopping from MarketLive, 7th Annual Holiday Research Study, Oct 15, 2015

C O N C L U S I O N

Consumers want limited-time and exclusive shopping incentives above all else when considering purchasing off of social media.

How do online retailers keep up?

Understand customer buying behaviour.01

Create contextual "buy now" opportunities that actually improve the shopper experience. 02

Build a seamless omnichannel presence online and 03

9 INSPIRING REFERRAL MARKETING IDEAS FOR THE PERFECT REFERRAL INCENTIVE

- RANKED BY MAGNITUDE OF EFFECT -

1. FREE SHIPPING

of US eCommerce shipments included free shipping during 2 014 h o l i d a y s h opp i n g period.

70%

One of the most powerful tools to remove any purchasing barriers.

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2. MEMBER-ONLYEXCLUSIVE DISCOUNT

Exclusiveness creates additional perceived value in your offer. Offer ing something and greatly limiting its access causes it to look far more valuable.

3. DAILY DEALSBrings in valuable new willing-and-able customers, with the possibility of them becoming repeat customers.

77% of deal buyers for Groupon, LivingSocial, Travelzoo, and BuyWithMe were new customers, all spent more than the deal's value!

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4. SEEING AUNIQUE PRODUCT

A unique product has an attention-grabbing potential to cut right through social noise and straight through to new buyers.

5. REWARD ANDLOYALTY POINTS

Pairing loyalty points with referral rewards provides powerful incenTves for both acquisi'on and reten'on purposes.

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6. SEEING A PREVIOUSLY VIEWED ITEM

How many times does the average customer see your message? Effective advertising not only depends on messaging but also on the frequency of impress ion of that message.Retargeted visitors are 70% more likely to convert!

7. A PRODUCT WITH MANY LIKES

Many fall in the trap of focusing on what have been referred as "vanity metrics.Likes and Shares can produce larger perceived value of your content and increase the propensity of a viewer to engage.

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8. VOTING MECHANISMS

E x t r e m e l y u s e f u l f o r companies who have trouble g e n e r a t i n g o r g a n i c engagement. Simply talking to your customers, involving them in your process and following up on it will greatly increase engagement.

9. A FRIEND HAS LIKED A PRODUCT

Social recommendaSon is one of the most powerful purchasing triggers.We natural ly accept fr iends' recommendaTons as the truth while taking any informaTon from the outside with a hint of skepTcism.

an exclusive discount to entice participation, a limited-time free shipping offer to create urgency, leveraging social sharing mechanisms to increase likes, spreading your offer to other fr iends and creat ing the foundation for a loyal relationship using retargeting advertising and reward points.

A SUCCESSFUL REFERRAL PROGRAM ENTAILS:

HOWEVER,Mix-and-matching these influence points represents a serious challenge for marketing executives who want to get more social sharing out of their existing customers.

THINKING OF IMPLEMENTING A REFERRAL PROGRAM?

Learn the essential principles marketing executives should utilize for online retail referral

success.

http://www.sociablelabs.com/ebook/refer-a-friend-best-practices?__hssc=24357477.1.1455673255326&__hstc=24357477.f9e73083c37ea60948c5d9a520711ae8.1454596338880.1455065286745.1455673255326.10&__hsfp=&hsCtaTracking=b24057bf-e1e9-4c7b-8c2f-4a5242716bcc%7C6b7aee0d-b0ef-41c4-9ae2-7629cf20d8dc