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Buyapowa: Few global retailers have achieved social maturity
Most global retailers are building up communities of Fans or Followers on social media, but few are taking their social media marketing far enough, according to new research released by social commerce provider Buyapowa.
If you have already read my earlier post that reveals just 1% of retailers are seeing traffic and sales from their social media marketing activity, then this post may well explain why.
Buyapowa ranked 100 retailers, including Nordstrum, Lowe's, JCPenney and Tesco, according to their definition of social maturity which consists of three stages:
STAGE ONE: Collect your audience;
STAGE TWO: Engage the community; and
STAGE THREE: Build a social sales channel.
According to Buyapowa, achieving stage three is to reach social maturity, i.e. making sales within social media.
Of the 100 global retailers ranked by Buyapowa, most (82) had achieved Stage One but after that the drop off is significant - only 17 retailers had achieved Stage Two and just 1, Tesco, was classified as having achieved social maturity, although Falabella, Nordstrum and Lowe's were not too far off the mark.
"The majority, unexpectedly, are either early or late Stage One performers," says the report. "These are the brands who have believed the myths surrounding social - that it's like a party and no one wants to be sold something at a party (tell that to the Tupaware Brands company, which is currently valued at almost a billion dollars)."
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