Success in Social Commerce Name of the Student E-Commerce Name of the Concerned Professor May 9, 2013 Success in Social Commerce Introduction There is no denying the fact that many people tend to think of social commerce as merely being a branded forefront spread across the Facebook canvas…
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It is a fact well known around the world that social networking has accrued a large scale acceptance and usage amongst the contemporary consumers. Yet, there is no dearth of businesses that have failed to exploit the full potential of the opportunities available at the social networking sites like Facebook and to be able to use them as viable channels to engage customers. However, on the other side there is no dearth of companies that prove beyond doubt that social commerce holds an immense potential for the companies that know how to milk the business potential inherent in the social networking sites. It is a fact that the businesses that know as to how to exploit the large volumes of freely available data at the social networking sites that is self maintained on a continual basis by the potential consumers and are able to personalize that data and the associated portals to enhance the overall consumer experience could accrue much in terms of business success (Shen, 2012, p. 198). The Future of Social Commerce Though, the skeptics tend to bemoan the fact that social commerce constitutes a mere fraction of the total retail business, yet if one goes by the ongoing trends, it would not be wrong to say that the social commerce is expanding at a pace that is much fast as compared to the offline retail (Griffiths & Howard, 2008, p. 70). Social commerce is bound to expand and could be expected to appropriate a major chunk of the retail business, considering the fact that the contemporary consumers are not only spending a greater time on the mobile devices and social networking sites, but the proactive and innovative companies are enhancing the opportunities whereby the consumers could make purchase on the social networking sites (Griffiths & Howard, 2008). The social networking sites like Twitter and Facebook are making it much easier for the consumer to engage in one-stop-shop experience. Right from the job of purchasing and getting delivered the gifts for the loved ones to buying branded products from a brand’s Twitters hashtag post or its Facebook page, social commerce is extending such opportunities to the conventional consumers that are not only hassle free and easy to use, but are also accompanied by readily available customer reviews, pre purchase assistance and after sale services. Social commerce has the potential to fuel consumer sales by molding and channelizing their shared interest and propensities. It is not a wonder that irrespective of the fact that though the social commerce today is being dominated by the online businesses like Amazon, Macy’s, Target and Apple, the online shopping businesses like Beyond the Rack, HauteLook, and ShoeDazzle are increasing and enhancing their social commerce presence. These companies retain a very strong and engaging presence at Twitter and Facebook. No wonder engaging in social commerce is a potent and viable way not only to enhance a businesses’ online presence, but also to translate into viable online sales. Besides, social commerce could also be adapted and manipulated to accrue much word of mouth publicity. For instance there is no dearth of the consumers who are willing to post a review about a particular business, provide they are offered a lucrative and attractive deal. Social commerce is a double edged sword with innate possibilities and opportunities. By helping the consumers the businesses could help themselves grow and by enervating the consumers
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(Success in Social Commerce Essay Example | Topics and Well Written Essays - 1750 Words - 1)
“Success in Social Commerce Essay Example | Topics and Well Written Essays - 1750 Words - 1”, n.d. https://studentshare.org/e-commerce/1477955-success-in-social-commerce.
With 750 million active users (USA Today 2011), Facebook is undoubtedly the current market leader in the field of social networking sites. Established by former Harvard student Mark Zuckerberg in February 2004 as The Facebook, the site changed its name to Facebook in August 2005 and soon established itself as a major player in a field that was being led by Orkut and MySpace (Mashable, n.d), attracting users with its exclusivity and clean-interface.
The aim is to use online media to support all social interactions and the contributions of the users in enhancing online purchases and transactions. The idea of social commerce was first introduced onto the media in the year 2005 on yahoo media. In that year, issues like shoposphere came out but were marred by many assumptions and projections on the uncertainty on the side of the consumers.
More specifically, it refers to the activities aimed at getting people to like the products on Facebook, retweet the promotion code posted on Twitter account and so forth so as to enable the deal get adequate traction to achieve the intended purpose. It could also involve customers writing reviews on the products bought from a company in a similar manner books receive reviews on Amazon.com.
The reason this paper is including detailed discussion on distinction of social commerce from other traditional types of commerce is the need for realizing the complexity that exist in social commerce, which will only enable its critical understanding that is essential for understanding different aspects of its success.
In this regard, social media as well as social networking technologies are recognized to create a greater positive impact on businesses. Social commerce is further determined to possess four major elements which include business, people, technology as well as information where each of these factors are considered as highly significant in the contemporary managerial context.
What Defines Success in Social Commerce?
The recent technological advancements have led to subtle effects in modern way of living, doing business, and interacting. Indeed, the advanced technology has promoted global business through networking and has eased the manner of doing business, increased productivity, enhanced product development, and increased the market base (Oracle, 2012).
371). According to Kitch (2009), the Cell phones are the most ubiquitous electronic devices developed in this technology based age. Presently it is assessed that approximately more than 40 million Americans are
Soon, it was made clear that e-commerce could effectively replace commerce, in its traditional form. In the context of e-commerce the physical presence of customer in a shop is not necessary, a fact that has highly
It can be business-to-business, consumer-to-consumer, or business to consumer.
After the Second World War, companies and individuals transacted businesses through paper work and basic computers networks. By early 1960s,
As we all are aware that online market places every day interact with strangers and the likelihood of making misrepresentation is high because of the reason users play with their reputation system byartificially expanding their reputation values. Social media is
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