Harnessing the power of Social Media: the future of Social Commerce

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From the arrival of Makeoutclub in 2000, which hatched into MySpace, LinkedIn and Bebo, and finally grew into the behemoths Facebook and Twitter, the Noughties were the decade of social media. We worked out what it was about, how to do it, and why it mattered. As the next decade gets underway, we ask – where to go now?

And we’ll tell you. 2011 is the year of the social commerce revolution, as predicted by Facebook and social commerce expert Warren Knight. With the emergence of e-commerce platforms like Gloople, snapped up by brands like Cheeky Beach and Dotmaison, shopping with your online community will become the norm. And it’s not about Facebook getting a retail gloss – it’s about retailers adding a social layer to their business.

The potential is huge. ‘Like’ the latest offering from Apple? Recommend it to your friends and watch them rush to buy it – without leaving their Facebook. Read the latest e-book? Share it. From check-ins to reviews and recommendations, it’s the year that word of mouth comes into its own.

We predict Facebook will continue to dominate the social commerce scene, which will also become more ‘niche-global’ as social media becomes more local. Social Media Examiner’s Jay Feitlinger thinks Facebook will be ‘the payment processor and loyalty program of the future.’ Tracking social media ROI and flash sales are also highlighted as ones to watch.

Mobile commerce will be the new big thing – buying your latest laptop from your smartphone will be the only way to do it, from loyalty cards to group-buy coupons. Speaking of, did we mention the group-buy couponing website Groupon is worth $4.75bn? The Huffington Post’s Robert Ball thinks it should be key to your social media strategy.

And it won’t just be about commerce  – pr, customer service and product development will all become entwined with the social media world.

A little bit behind the fast-moving world of social commerce? For a starter for ten or a refresher course, check out our fast facts presentation – from who uses social commerce, to why, to how, and to what you should be ready for in the months and years ahead. Find out why Gloople is playing a key role in the advent of social commerce, and why people are really on social media, and the potential of Facebook credits to be the next global currency. Be part of a new phenomenon this year.


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