Top 3 social commerce tips from Gigya CEO David Yovanno

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I recently had the chance to chat with David A Yovanno, CEO of Gigya about social commerce trends and what brands can do to monetize the social space.

Kristina: In the social space, what truly engages the consumer?

David: Beyond a coupon or special offer, I think what consumers really want from their favorite brands is transparency, relevance and convenience. When people reach the checkout…they abandon [shopping carts] at an average rate of 40%. One initiative gaining popularity is the concept of ‘social sign on’, using an existing identity from [social networks] to register on a site. Registering with a social identity is not just easier for the consumer, but provides the retailers with a host of useful information about their customer.

Kristina: Is social becoming a channel unto itself?

David: Social is becoming a continuous, seamless layer across platforms. Sooner rather than later, all online retailers like other sites will make it possible for their customers to engage with their sites socially – including using a social identity to register, providing the ability to share a favorite item directly to Facebook and Twitter and engaging with friends about which items they covet or have already purchased.

Kristina: What are the best practices for creating word of mouth from a retail site?

David: First, remove friction – integrate social sharing with social sign-on so that items can be shared with the least amount of friction.

Second, provide incentives – reward customers for social activity by providing incentives. Both virtual and monetary incentives help foster customer loyalty.

Third, measure – track not only sharing volume but the resulting referral traffic and its impact on sales. With this information, retailers can then reward their largest influencers, driving more Word of Mouth (WOM) activity.

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ABOUT THE AUTHOR

Kristina Knight-1
Kristina Knight, Journalist , BA
Content Writer & Editor
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Kristina Knight is a freelance writer with more than 15 years of experience writing on varied topics. Kristina’s focus for the past 10 years has been the small business, online marketing, and banking sectors, however, she keeps things interesting by writing about her experiences as an adoptive mom, parenting, and education issues. Kristina’s work has appeared with BizReport.com, NBC News, Soaps.com, DisasterNewsNetwork, and many more publications.