More people than ever are on social media, but does that mean they’re actually buying? We already know that social media users are sharing products at rapid speeds, but is it possible they’re so consumed with chatting with friends and family and “connecting” that they forget to submit a purchase?
Are We Shopping More Often?
There’s a big difference in being exposed to more product than ever, but participating in a medium that is so engaging there’s little downtime to browse and select what to purchase.
“While social media may account for a significant share of web traffic that online stores receive, it’s unclear whether presence in social media and the traffic that companies get through social media are actually doing well in the storefront,” says Michael Trusov, associate professor of marketing at the University of Maryland’s Robert H. Smith School of Business. The easy answer is to write off shoddy affiliate marketing models as a lost cause and the idea that a retailer must create their own technology to solve these problems.
Retail Needs the Transparency of Blockchain to Track Dollars Spent
Blockchain technology gives retailers an easy way to make the most of influencer marketing because it tracks the purchase with total transparency. With the ultimate omnichannel experience, consumers using social media inadvertently advertise and promote a store giving the store leverage with every pic, mention or product link. Some of this converts into real sales dollars, which is real value to the store and thus awarded with a token for the influencer that drove the sale.
C — CommerceSummit is the way to learn how blockchain at your store will streamline influencer and content marketing for good, making your retailer a leader in blockchain retail that entices consumers with a transparent and advantageous model, leading to more sales and profit, leveraging and investing on effective social media channels.
Social Media Users Shop More Than Anyone: That’s In-Store and Online
Social media users definitely shop more than the average person, but it is because of exposures to new products online on social platforms. Social media users aren’t hanging out on store sites for hours on in — instead they’re spending hours on Instagram and Snapchat (the primary outlets for shoppers) and being inundated with product and experiences in the process. In the UK, 72% of Snapchat users Snap while shopping, while 60% of users show off products after they’ve been purchased (both in-store and online). The average social media users spends an average of two hours per day on social, be it a major platform or a lesser-used site like Reddit, Musica.ly or LinkedIn.
Social Sharing Is the Future of Retail
It’s time for retailers to recognize the simple way to make the most of this around-the-clock product sharing happening around the globe. CCommerceSummit is the way to learn how blockchain at your store will streamline influencer marketing for good, making your retailer a leader in blockchain retail that entices consumers leading to a more effective leverage on social media.
What is mCart?
mCart protocol is a decentralized marketplace/influencer marketing attribution platform that addresses the needs of shoppers, influencers, and marketers by leveraging blockchain. Using smart contracts, marketers, influencers and shoppers will be able to transparently and verifiably collaborate while giving each participant the right financial incentives to participate in the ecosystem.
Copyright Mavatar 2018