Social Networks use Online Shopping for New Revenue

Social Networks are places where people congregate; making them great sources of Market Research and Revenue. As a result, Social networks are looking for new revenue streams. The latest revenue channel for them is E-commerce.

Facebook is partnering with Shopify to launch Facebook shops. The social network is the latest to get in on the E-Commerce business.

Last year at SMX East, Google and YouTube shared how they are allowing people to shop online for products. Google also shared people’s buying behavior. I have included parts of the article below.

In Google’s Keynote, I learned how businesses can get an edge during the holidays. I also learned of Google’s plan to use Google Images and YouTube for E-Commerce. Google is also allowing businesses to use location-based Ads in Google Maps.

The key insights of the presentation were:

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1. According to Google most shopping visits start online.

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2. When diners search for a great place to eat the searches are probably happening on a smartphone.

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3. When people are online in cars, more than half of them are searching for information on a mobile device making localization and targeting important.

4. 2/3’s of shoppers say that online video has given them insight and inspiration to make purchases.

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5. Shoppers use at least 3 channels or more when shopping.

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6. Brands need to provide an omnichannel channel experience all year, especially during the holidays.

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7. Sales are happening online and offline. As a result of this shift, Brands need to serve customers on the channels of their choice.

Would you shop on a Social Network? Share your thoughts.

 

Published by Dan Galante

I write about the three topics that I am most passionate about; Sales, Marketing and Social Media. These topics are covered from my experiences in outside sales and marketing. My objective is to use my expertise to help business and the individual produce better results in these areas. Feel free to send me your questions. The blog is published on WordPress and Tumblr along with the LinkedIn publishing platform.

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