A new study shows that social shopping results in higher conversion rates. It’s a difficult formula to reproduce, but it can be done given the right amount of research, time, energy and insight.
The study, “Engaging Advocates Through Search and Social Media,” shows how shoppers use e-mail, instant messaging and social networking sites to talk about the brands, products or categories that they like to buy and thereby influence other consumers to purchase them.
As consumers continue to move away from direct marketing (and indirect marketing) tactics such as email, banners and search results, the question of how to reach them within a cost per action conversation is a very valid and valuable thing to ponder.
Think about the average consumer in the crowded malls right now. How are they deciding what to buy? The old paradigms of stationary and fruitcake are gone. Chances are, that someone special has an Amazon Wishlisht (I do) or you can txt someone who knows them well to get a suggestion.
Any program that you run, participate in, or hope to build must have at its root a conversation between merchant/affiliate and consumer. If you don’t have that conversation built into your cost per action marketing program, you’ll get tuned out rather quickly in this world of txt, IM, MySpace and YouTube.
Who should take notice?
- Affiliate Networks
- CPA Networks
- Email Marketers
- Website Marketers
- Co-Reg Marketers
- Search Marketers
How do you participate in the conversation? Read Doc Searls, Jim Kukral, Shawn Collins, Tara Hunt, Seth Godin and mix all of that together into a warm challenging stew for whatever suits your program the best. Explore brave new worlds and watch the higher conversions (and more meaningful market relationships) roll in.