“Social media marketing’’ is the current buzzword for the marketers around the world. But the debate lies in the fact ‘does it really drive online sales’? eCommerce is growing at a lightening speed and more online marketeers are embracing the power of social media while planning for sales and marketing. But some questions that are becoming crucial to marketing and social media marketing professionals are :
1. What are the costs of acquiring one opt-in e-mail address, one lead or one sale?
2. What is the ROI of each subscriber, fan, follower or lead?
3. What are the Costs Per Order of every sale (CPO)?
4. What is the economic value of one relationship?
5. How many relationships do we have? How can we grow them and at what costs?
6. How can we become a predictive brand, like Amazon.com?
Latest infographic comes from AddShoppers which tracked social conversion data of over 10,000 online retailers. Data is segmented industrywise. They had analyzed $5,000,000 worth of eCommerce transactions that are influenced by social sharing from numerous retailers on their platform.
These figures would surprise you. These figures shows average increase in revenue from popular social sharing. Here are some startling facts –
- Average social share value for commercial products – $2.04
- Average value of email sharing/forwarding to friends – $17.93
- Average value of Google+ sharing – $10.78
- Average value of Facebook sharing – $2.35
- Average value of Twitter – $1.62
- Average Pinterest sharing value – $1.25
– Facebook contributed to 39% of social revenue whereas Twitter did 20 %. Email contributed to 16%
– Business category that benefitted most from the social sharing – Apparel, followed by general stores and electronics
– Product category that has highest social sharing value – Cameras , highest per share value at $19.75
– Site that influenced Highest Average Online Order – Tumblr, higher than any social networking site. The value stands at $200.33
See this infographic from www.addshoppers.com
