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BizReport : Social Marketing : July 16, 2015

Top 3 tips for a better social commerce experience

Social commerce could set retailers up for a big boost to revenue, but only if those retailers know how to approach shoppers in the social space. One expert offers his top 3 tips to better engage through social commerce.

by Kristina Knight

Kristina: What do retailers need to do to take advantage of "buy buttons" on social sites?

Mike Lapchick, ShotFarm: Marketing and supply chain data will need to be synchronized in order for retailers to successfully integrate "buy buttons" into their business model. Product images and details are going to become even more important with "buy" buttons, so retailers need to leverage a data management system that will allow them to easily exchange data and synchronize it across all channels, no matter their own or their manufacturer's preference for file type. Using a shared data system will enable retailers to integrate "buy" buttons without increasing resource hours and money on updating and exchanging product information.

Kristina: What happens if retailers ignore the rise in social commerce, or fail to update?

Mike: Retailers risk losing out on a powerful stream of revenue if they fail to integrate social commerce into their business models. However, they may lose even more if they do social commerce wrong. There needs to be a fundamental change in how retailers and manufacturers exchange data so that product information can be easily shared through every channel retailers are selling on. If they don't, countless resource dollars, mismanaged inventory, and poor customer satisfaction are inevitable.

Kristina: How do you optimize for "merchandising beyond the storefront," - selling in places that are not the retailer's own e-commerce storefront

Mike: Retailers need to adopt a flexible data exchange system so that any manufacturer, no matter their product and its attributes, can integrate product information quickly and easily. That way, product information can be transferred automatically to social commerce platforms and the data remains consistent. This enables retailers to track inventory and order management systems efficiently and effectively.

Kristina: Share your top 3 tips for retailers in adding social commerce options

Mike: 1. Make sure product information can be collected, reformatted and updated quickly and automatically
2. Understand your online presence and be able to adapt to customer needs
3. Have flexible infrastructure, especially as "buy buttons" and other direct purchasing options become more common

Image via Shutterstock

Tags: ShotFarm, social commerce, social marketing, social shopping

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