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6 Solutions for Social Commerce Success (Small Business E-commerce Link Digest – February 18, 2011)

Alright, Big Thinkers, another week is in the books. And as you gear up for next week, here are 6 different takes on social commerce to help you succeed in the future:

  1. First up, we’ve got a long piece on TechCrunch about how e-commerce got its groove back. Given the length of the article, I can summarize how e-commerce “got its groove back” in one word: social. Now, the writer—tech investor James Slavet—is quite literally invested in the success of social commerce, having just financed social commerce site One Kings Lane to the tune of $23 million. But, don’t mistake him for just a money guy out of touch with consumer wants and needs. For instance, check out this quote:

    What makes a social commerce business work at the core is an experience that is fundamentally worth sharing. The act of sharing involves social capital – you’re withdrawing a deposit from the social capital account with a friend when you share something lame with him, and you’re earning social capital when you share something cool.” [Emphasis mine]

    Sure sounds like a guy who get what social commerce is all about.

  2. James Slavet has some numbers on his side to back up the notion that social commerce activities require experiences worth sharing. According to another TechCrunch post, data shows that Facebook “shares” are worth 3x as much as tweets on Twitter for e-commerce.
  3. Of course, having something worth sharing isn’t always good enough. It also helps if you make it easy to share. Fortunately, long-time Friend of Thinks Linda Bustos offers one way to do that with a look at whether Facebook Connect for e-commerce is right for your business. Linda shares Slavet’s view that success in social commerce doesn’t come from adding a shiny new share or connect button, noting “Your feature must be on-brand, on-product and on-customer.”
  4. Still want more information as to whether Facebook Connect might work for you? Than take a look at this Marketing Vox post that suggests social sign-in increases profits and customer satisfaction. And we all know how important online customer satisfaction is.
  5. Now, don’t be discouraged if you’re struggling to get social right. Google does too. But they’re taking another stab at it with an update to their social search product.
  6. And finally, I would be remiss if I didn’t point you to at least one dissenter in our midst. Read/Write Web takes a good look at why most Facebook marketing doesn’t work. The simple answer, as with Linda Bustos and James Slavet’s point is because it fails to connect with customers. Fortunately, the Read/Write Web folks also show what does. Good stuff.

That’s the round-up for this week, folks. I hope it helps you forget your social commerce sorrows and move you on to sunny days. Have a great weekend, Big Thinkers and we’ll see you right back here next week.

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Tim Peter is the founder and president of Tim Peter & Associates. You can learn more about our company's strategy and digital marketing consulting services here or about Tim here.

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