Re-Shaping the Purchasing Process: The Rise of Social Retailing

TOPIC QUESTIONS

Q1) How is social impacting retail sales?

Q2) How does Facebook, LBS (Location), Group Buying change brick & mortar?

Q3) What is most important with social commerce - Branding, promotions, experience - and why?

Event Details

Event Date:
2011-03-29
Event Time:
12PM - 1 PM EST

Participants:
36
Tweets:
570

Embed:

Moderator

Alex de Carvalho

twitter: @alexdc

web: http://alexdc.org/

BIO: Alex devel�ops social media ini�tia�tives and net�works from busi�ness plan�ning to launch. He is cur�rently devel�op�ing a world�wide com�mu�nity for physi�cians, VoxMed.com. He is the co-founder of Scan�buzz, an online ser�vice for health�care brand mon�i�tor�ing. A Pro�fes�sor at the Uni�ver�sity of Miami, School of Com�mu�ni�ca�tions, Alex teaches a course on social media. Based in Miami, Florida, he orga�nizes The Startup Forum, Social Medi ...more

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@vicequeenmaria I'll check out hugedailydeal, thanks #sm104
Posted by: @alexdc - 03/29/2011 01:12:04 PM
RT @alexdc: How long can Groupon and Living Social go on with the same business model? #sm104
Posted by: @NonprofitGold - 03/29/2011 01:12:04 PM
@j_fuji Oh ok, I hadn't seen that. One of my students was his millionth follower and she also applied. #sm104
Posted by: @alexdc - 03/29/2011 01:12:04 PM
@shellykramer Relive it while it's still fresh! http://bit.ly/gnOvSK
Posted by: @J_Fuji - 03/29/2011 01:12:04 PM
@garzuaga Gonzalo, I just hosted the #socialmedia hashtag chat, about Social Commerce. Here's the transcript http://bit.ly/gnOvSK #sm104
Posted by: @alexdc - 03/29/2011 01:12:04 PM
@ShellyKramer I just did and it was totally insane! It's quick-paced. I know you've hosted as well and I'm honored #sm104
Posted by: @alexdc - 03/29/2011 01:12:04 PM
@alexdc Doggone it. Did you host #sm104? I'm so sad I missed it.
Posted by: @shellykramer - 03/29/2011 01:12:04 PM
@ambercleveland Thank you for the side discussion about Wal-Mart, I know it's a bit controversial. Thanks again for participating #sm104
Posted by: @alexdc - 03/29/2011 01:12:04 PM
@KristaHess Thanks Krista for your participation today #sm104
Posted by: @alexdc - 03/29/2011 01:12:04 PM
@alexdc Nah they've whittled it down to ~250, awaiting the decision for the final shortlist :O #sm104
Posted by: @J_Fuji - 03/29/2011 01:12:04 PM
FYI Next weeks #socialmedia tweetchat host was supposed to be @tamadear but she volunteered @megfowler because of a conflict #sm104
Posted by: @Marc_Meyer - 03/29/2011 01:12:04 PM
@RomyPR I'm also looking for the I'm Hungry button! #sm104 @jasonbreed Thanks again, hope we'll meet at some point. Cheers
Posted by: @alexdc - 03/29/2011 01:12:04 PM
@alexdc OF COURSE! It was an awesome discussion. #sm104
Posted by: @cleavoncox - 03/29/2011 01:11:06 PM
#sm104 great job Alex!
Posted by: @KristaHess - 03/29/2011 01:11:06 PM
@j_fuji It's more like 80,000 people vying for the #tigerblood internship ... lol #sm104
Posted by: @alexdc - 03/29/2011 01:11:06 PM
RT @jasonbreed: Nice work @alexdc on moderating & everyone for participating. Here is recap http://bit.ly/gnOvSK #sm104
Posted by: @cleavoncox - 03/29/2011 01:11:06 PM
@alexdc #SocialMedia and Digitally Frugality leads to a new generation of communications and marketing #sm104
Posted by: @KristaHess - 03/29/2011 01:11:06 PM
@juwiling I appreciate that :) Have a great day #sm104
Posted by: @alexdc - 03/29/2011 01:11:06 PM
@Marc_Meyer Thanks again, it's a bit daunting but a lot of fun! Everyone had great thoughts, I learned a lot! #sm104
Posted by: @alexdc - 03/29/2011 01:11:06 PM
@alexdc great job buddy... #sm104
Posted by: @markkrupinski - 03/29/2011 01:11:06 PM
@alexdc You're welcome :D #sm104
Posted by: @J_Fuji - 03/29/2011 01:11:06 PM
@cleavoncox Thanks so much for your participation! #sm104
Posted by: @alexdc - 03/29/2011 01:11:06 PM
Great convo on the rise of social commerce. Excellent host @alexdc. Now where's that I'm Hungry button?.... #sm104
Posted by: @RomyPR - 03/29/2011 01:11:06 PM
@TeresaThotel Please check here for the next topic http://bit.ly/MLEP7 #sm104 and thanks!
Posted by: @alexdc - 03/29/2011 01:11:06 PM
I'm one of those 250 ppl vying for the @charliesheen internship, I'd love feedback on the content of my entry http://bit.ly/en1q5g #sm104
Posted by: @J_Fuji - 03/29/2011 01:11:06 PM
RT @jasonbreed: Nice work @alexdc on moderating & everyone for participating. Here is recap http://bit.ly/gnOvSK #sm104
Posted by: @Marc_Meyer - 03/29/2011 01:11:06 PM
@alexdc hugedailydeal about to come on the scene - unisex for sure #sm104
Posted by: @vicequeenmaria - 03/29/2011 01:11:06 PM
Nice work @alexdc on moderating & everyone for participating. Here is recap http://bit.ly/gnOvSK #sm104
Posted by: @jasonbreed - 03/29/2011 01:11:06 PM
thank you for moderating @alexdc, great way to start off the afternoon #sm104
Posted by: @juwiling - 03/29/2011 01:11:06 PM
Agreed RT @alexdc: I would say branding doesn't apply in social media. Here it's about personality, trust, service #sm104
Posted by: @TheTinyJEWELBox - 03/29/2011 01:11:06 PM
@dariasteigman Thanks so much! #sm104
Posted by: @alexdc - 03/29/2011 01:11:06 PM
@cleavoncox I definitely agree, you have to be nimble and flexible #sm104
Posted by: @alexdc - 03/29/2011 01:11:06 PM
@alexdc As we close up shop for todays #socialmedia tweetchat, I was blown away by your great hosting and the content #sm104
Posted by: @Marc_Meyer - 03/29/2011 01:11:06 PM
Thanks to @KristaHess, @AppleBoxStudios, @j_fuji, @jasonbreed, @Marc_Meyer for an hour well spent. #sm104
Posted by: @dariasteigman - 03/29/2011 01:11:06 PM
RT @alexdc: How long can Groupon and Living Social go on with the same business model? #sm104
Posted by: @NonprofitGold - 03/29/2011 01:11:05 PM
@j_fuji Oh ok, I hadn't seen that. One of my students was his millionth follower and she also applied. #sm104
Posted by: @alexdc - 03/29/2011 01:11:05 PM
@shellykramer Relive it while it's still fresh! http://bit.ly/gnOvSK
Posted by: @J_Fuji - 03/29/2011 01:11:05 PM
@garzuaga Gonzalo, I just hosted the #socialmedia hashtag chat, about Social Commerce. Here's the transcript http://bit.ly/gnOvSK #sm104
Posted by: @alexdc - 03/29/2011 01:11:05 PM
@ShellyKramer I just did and it was totally insane! It's quick-paced. I know you've hosted as well and I'm honored #sm104
Posted by: @alexdc - 03/29/2011 01:11:05 PM
@alexdc Doggone it. Did you host #sm104? I'm so sad I missed it.
Posted by: @shellykramer - 03/29/2011 01:11:05 PM
@ambercleveland Thank you for the side discussion about Wal-Mart, I know it's a bit controversial. Thanks again for participating #sm104
Posted by: @alexdc - 03/29/2011 01:11:05 PM
@KristaHess Thanks Krista for your participation today #sm104
Posted by: @alexdc - 03/29/2011 01:11:05 PM
@alexdc Nah they've whittled it down to ~250, awaiting the decision for the final shortlist :O #sm104
Posted by: @J_Fuji - 03/29/2011 01:11:05 PM
FYI Next weeks #socialmedia tweetchat host was supposed to be @tamadear but she volunteered @megfowler because of a conflict #sm104
Posted by: @Marc_Meyer - 03/29/2011 01:11:05 PM
@RomyPR I'm also looking for the I'm Hungry button! #sm104 @jasonbreed Thanks again, hope we'll meet at some point. Cheers
Posted by: @alexdc - 03/29/2011 01:11:05 PM
@vicequeenmaria I'll check out hugedailydeal, thanks #sm104
Posted by: @alexdc - 03/29/2011 01:11:04 PM
@AppleBoxStudios Thanks for your contributions and the thought of the day :) #sm104
Posted by: @alexdc - 03/29/2011 01:03:07 PM
@alexdc When is the next session? just picked this one by chance (lucky me:) #sm104
Posted by: @TeresaThotel - 03/29/2011 01:03:07 PM
@alexdc @jasonbreed @marc_meyer awesome job guys! #sm104
Posted by: @cleavoncox - 03/29/2011 01:03:07 PM
Also if we're closing out, and all you brilliant marketing minds are here, can I ask y'all for a teensy favour? #ulteriormotives #sm104
Posted by: @J_Fuji - 03/29/2011 01:03:07 PM

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Moderator

@vicequeenmaria I'll check out hugedailydeal, thanks #sm104

@j_fuji Oh ok, I hadn't seen that. One of my students was his millionth follower and she also applied. #sm104

@garzuaga Gonzalo, I just hosted the #socialmedia hashtag chat, about Social Commerce. Here's the transcript http://bit.ly/gnOvSK #sm104

@ShellyKramer I just did and it was totally insane! It's quick-paced. I know you've hosted as well and I'm honored #sm104

@ambercleveland Thank you for the side discussion about Wal-Mart, I know it's a bit controversial. Thanks again for participating #sm104

@KristaHess Thanks Krista for your participation today #sm104

@RomyPR I'm also looking for the I'm Hungry button! #sm104 @jasonbreed Thanks again, hope we'll meet at some point. Cheers

@j_fuji It's more like 80,000 people vying for the #tigerblood internship ... lol #sm104

@juwiling I appreciate that :) Have a great day #sm104

@Marc_Meyer Thanks again, it's a bit daunting but a lot of fun! Everyone had great thoughts, I learned a lot! #sm104

@cleavoncox Thanks so much for your participation! #sm104

@TeresaThotel Please check here for the next topic http://bit.ly/MLEP7 #sm104 and thanks!

@dariasteigman Thanks so much! #sm104

@cleavoncox I definitely agree, you have to be nimble and flexible #sm104

@j_fuji Oh ok, I hadn't seen that. One of my students was his millionth follower and she also applied. #sm104

@garzuaga Gonzalo, I just hosted the #socialmedia hashtag chat, about Social Commerce. Here's the transcript http://bit.ly/gnOvSK #sm104

@ShellyKramer I just did and it was totally insane! It's quick-paced. I know you've hosted as well and I'm honored #sm104

@ambercleveland Thank you for the side discussion about Wal-Mart, I know it's a bit controversial. Thanks again for participating #sm104

@KristaHess Thanks Krista for your participation today #sm104

@RomyPR I'm also looking for the I'm Hungry button! #sm104 @jasonbreed Thanks again, hope we'll meet at some point. Cheers

@vicequeenmaria I'll check out hugedailydeal, thanks #sm104

@AppleBoxStudios Thanks for your contributions and the thought of the day :) #sm104

@j_fuji Thank you, I appreciate that. It goes quickly! #sm104

Thank you all for fascinating & fast-paced discussion, I'm glad to meet you & glad to see friends. Thank you @jasonbreed @marc_meyer #sm104

@dariasteigman Thanks so much! #sm104

@cleavoncox I definitely agree, you have to be nimble and flexible #sm104

@juwiling I appreciate that :) Have a great day #sm104

@Marc_Meyer Thanks again, it's a bit daunting but a lot of fun! Everyone had great thoughts, I learned a lot! #sm104

@cleavoncox Thanks so much for your participation! #sm104

@TeresaThotel Please check here for the next topic http://bit.ly/MLEP7 #sm104 and thanks!

@j_fuji Thank you, I appreciate that. It goes quickly! #sm104

Thank you all for fascinating & fast-paced discussion, I'm glad to meet you & glad to see friends. Thank you @jasonbreed @marc_meyer #sm104

Any closing thoughts anyone? #sm104

@thegoodgarden lol .. well, yes, but I meant my male friends ... :) #sm104

Many of my friends have yet to purchase a Groupon / Living Social deal; most say deals are mostly for women #sm104

@juwiling Why are they not sustainable? #sm104

@jasonbreed That's great. Groupon is already local, but here it's about being hyperlocal based on your desires (ie., hunger) #sm104

@j_fuji That sounds interesting as well #sm104

Collective purchasing could mean collective negotiating. Or collective product development. Or service development. #sm104

@j_fuji That sounds interesting as well #sm104

@j_fuji Yes, I think the deman side has not been fully tapped yet #sm104

@ambercleveland Ok we can disagree on that, no problem #sm104

@RomyPR Are there new models that can take advantage of this purchasing power? #sm104

@j_fuji Yes, I think the deman side has not been fully tapped yet #sm104

How long can Groupon and Living Social go on with the same business model? #sm104

@RomyPR Are there new models that can take advantage of this purchasing power? #sm104

@TeresaThotel Please do! Glad to have you here #sm104

Q4: What is the future of the group buying industry (Groupon, Living Social, etc.)? #sm104

How long can Groupon and Living Social go on with the same business model? #sm104

Ok I think we've explored Q3 enough ... let's go to Q4 #sm104

@ambercleveland I agree it's good to bring lots of jobs in ... but there are costs associated with that #sm104

People see your public actions, so it's about building trust and reputation #sm104

I would say branding doesn't apply in social media. Here it's about personality, trust, service #sm104

@ambercleveland I agree it's good to bring lots of jobs in ... but there are costs associated with that #sm104

I would say branding doesn't apply in social media. Here it's about personality, trust, service #sm104

I can hear everyone thinking ;) lol #sm104

Ok RT @JohnFrost: I think Experience and Branding are same. How the customer views your brand is based on their experience with it #sm104

@AppleBoxStudios Yes, customer service and retail experience #sm104

Ok RT @JohnFrost: I think Experience and Branding are same. How the customer views your brand is based on their experience with it #sm104

@ambercleveland Those jobs aren't necessarily high priced jobs, and they put in danger local "craftsmanship" and relationship biz #sm104

Sounds like a lot of objectives and difficult to maintain a consistent balance #sm104

@AppleBoxStudios Yes, customer service and retail experience #sm104

Sounds like a lot of objectives and difficult to maintain a consistent balance #sm104

Branding, promotions, or experience ... what is most important in social media for sales? #sm104

Q3: What is most important with social commerce — branding, promotions, expeience — and why? #sm104

Such a lively debate, it's hard to keep up with the pace ... let's move on to Q3 #sm104

It really depends if the company has resources that know how 2 participate in conversations, not just listen & not just push messages #sm104

Such a lively debate, it's hard to keep up with the pace ... let's move on to Q3 #sm104

@JohnFrost Yes, growing your list can be a valuable objective #sm104

For reference, here's a case study of a Nordstrom associate using social media for customer service and sales http://bit.ly/gATLpx #sm104

@JohnFrost Yes, growing your list can be a valuable objective #sm104

@dariasteigman Right, objectives can be very different -- and therefore measures and tools also #sm104

For reference, here's a case study of a Nordstrom associate using social media for customer service and sales http://bit.ly/gATLpx #sm104

@markkrupinski How do you measure conversion from online conversations? #sm104

@dariasteigman Right, objectives can be very different -- and therefore measures and tools also #sm104

Exactly RT @Marc_Meyer: @alexdc without breaking the bank...:) #sm104

SMBs don't have budgets or resources to spend on top of the line monitoring tools #sm104

@markkrupinski How do you measure conversion from online conversations? #sm104

Let's go with that for 10 minutes -- what are best tools for measuring results for SMBs? #sm104

SMBs don't have budgets or resources to spend on top of the line monitoring tools #sm104

The challenge with Groupon is it brings a lot of new customers who aren't necessarily loyal. You need to have a retention strategy #sm104

Does Jack's return to Twitter mean that they will integrate Square with Twitter somehow? #sm104

@JohnFrost The idea is to start slow and small and find the platforms that are useful to you as a business, and learn to scale #sm104

Me too RT @cleavoncox: @alexdc I see more value in the offers that Foursquare provides, not checkins. #sm104

@JohnFrost I agree, but there's time and resources involved in doing so #sm104

@KristaHess Please use our hashtag ;) #sm104

@JohnFrost I agree, but there's time and resources involved in doing so #sm104

So FAcebook is important because of conversations and recommendations. How about Foursquare -- is that important for sales? #sm104

@KristaHess Please use our hashtag ;) #sm104

@JohnFrost good point #sm104

@cleavoncox Please use hashtag #sm104

@JohnFrost good point #sm104

@thegoodgarden @j_fuji Is it essential for brick & mortar to be present on Facebook? #sm104

So Groupon builds brand visibility at the local level, but there may be a cost to pay for some SMBs #sm104

@cleavoncox Please use hashtag #sm104

So Groupon builds brand visibility at the local level, but there may be a cost to pay for some SMBs #sm104

@markkrupinski +1 good point #sm104

Q2: How does Facebook, LBS (Location), Group Buying change brick & mortar? #sm104

Great discussion, it's going really quickly ... lol ... let's move on to question 2 #sm104

Here's a case study of Foiled Cupcakes, that sells ONLY through social media http://bit.ly/flNjJK #sm104

@markkrupinski +1 good point #sm104

Q2: How does Facebook, LBS (Location), Group Buying change brick & mortar? #sm104

Great discussion, it's going really quickly ... lol ... let's move on to question 2 #sm104

@markkrupinski But there's a challenge in that most brands and retailers aren't talking to customers online #sm104

@j_fuji Groupon allows for group buying at a discount. But this could evolve into a group negotiating the price point. #sm104

Awesome RT @SocialMedBtrfly: At Christmas, Lowes had point-of-sale w/ a QR code, so shoppers could see other shoppers' wish lists #sm104

Here's a case study of Foiled Cupcakes, that sells ONLY through social media http://bit.ly/flNjJK #sm104

Regarding Q1, does social have a positive net IMPACT on sales? Are sales up because of social? #sm104

@j_fuji Groupon allows for group buying at a discount. But this could evolve into a group negotiating the price point. #sm104

Awesome RT @SocialMedBtrfly: At Christmas, Lowes had point-of-sale w/ a QR code, so shoppers could see other shoppers' wish lists #sm104

@markkrupinski But there's a challenge in that most brands and retailers aren't talking to customers online #sm104

Awesome RT @SocialMedBtrfly: At Christmas, Lowes had point-of-sale w/ a QR code, so shoppers could see other shoppers' wish lists #sm104

Regarding Q1, does social have a positive net IMPACT on sales? Are sales up because of social? #sm104

@j_fuji Also, are high involvement products better for group negotiating? #sm104

@j_fuji Are low involvement products better for group buying? #sm104

@Marc_Meyer What else are retailers doing in terms of social? #sm104

@j_fuji Right, some products are inherently social because of the network effect ... ie., phones #sm104

@Marc_Meyer What else are retailers doing in terms of social? #sm104

Different types of purchasing decisions require different types of recommendation. Buying soap is not like buying a car. #sm104

@j_fuji Right, some products are inherently social because of the network effect ... ie., phones #sm104

Different types of purchasing decisions require different types of recommendation. Buying soap is not like buying a car. #sm104

WOM has existed since the start of time ... but not necessarily online. It's still evolving and most retailers are not there #sm104

@SocialMedBtrfly Does this apply to all types of products? Or are some products more amenable to social than others? #sm104

@AppleBoxStudios You mean, it's no longer about pushing messages out to consumers? #sm104

@SocialMedBtrfly Does this apply to all types of products? Or are some products more amenable to social than others? #sm104

We'll start with Q1: How is social impacting sales? #sm104

So today's topic is about "Re-Shaping the Purchasing Process: The Rise of Social Retailing" #sm104

@AppleBoxStudios You mean, it's no longer about pushing messages out to consumers? #sm104

So today's topic is about "Re-Shaping the Purchasing Process: The Rise of Social Retailing" #sm104

We'll start with Q1: How is social impacting sales? #sm104

It's my first #socialmedia chat, feeling a bit nervous, but looking forward to the interaction #sm104

@Marc_Meyer Thanks Marc, I'm honored to be here today and looking forward to the discussion #sm104

We're about to start #socialmedia chat #sm104 in about 5 minutes. Today's topic: “The Rise of Social Retailing” http://bit.ly/hwZLAl