That was just one of the big AHA insights that has emerged from the 2011 Social Commerce Study. The study was the first comprehensive study to analyze how consumers are using social platforms for shopping (and their reasons why). comScore, Shop.org and Social Shopping Labs collaborated to develop and publish the report. I was lucky to be the recipient of the incredible dataset and to author the final report.
Although I was definitely excited about social commerce before this study, I am now even more convinced that social is driving shopping behavior. Here’s why:
- 77% of online adults are using a Social Platform (FB, YouTube, Twitter, Etc.)
- Nearly half are “liking” or “following” retailers via these platforms (not to mention other brands)
- For those shoppers that have liked/followed say they follow 6.3 retailers on average!
- They do it for access to deals and promotions BUT are also seeking PRODUCT INFO and access to expert opinions.
For now they are not opting out at significant levels, but as adoption curves ramp up and shoppers increase the number of brands they follow… eventually overload will occur.
My callout is simple. I encourage you to strike while the iron is hot. Right now there are millions of consumers who are not “connected” to brands yet via social. However, leading brands are building their bases fast! Obviously, we all want quality connections in our fanbase and followers. A load of truly zero engagement consumers in your Fanbase is not success. However, there is still a need to get connected before the percentage of consumers and number of connections reaches its inevitable max.
Peter Leech is a Partner in The Partnering Group, a leading consumer goods marketing consultancy. Full disclosure: Peter founded Social Shopping Labs, a social commerce application provider using games as promotions.