Social Commerce Expected to Grow by Six Fold
Shopping on social networks is still relatively cutting edge, but a recent report by Booz & Co. predicts social commerce sales will rise six-fold by 2015. This new way of shopping is poised to drive revenue in the coming years, which is one reason why Barnes & Noble College has already launched its social commerce program with the most widely used social networking service in the world – Facebook.
With well over 500 million users, Facebook has more viewers than Amazon and eBay combined. The Booz & Co. report also found that 71 percent of Facebook users say reviews from friends and family exert the single greatest influence when choosing a product or brand. In short, businesses can no longer ignore this enormous potential retail channel.
Social Commerce Innovation
Barnes & Noble has successfully integrated the social networking features of its more than 500 campus bookstore Facebook pages with its award-winning e-commerce websites, creating seamless social shopping experiences and expanding the company’s social media and communication capabilities.
“In a university community, students are engaged in campus life through their social networks, including purchasing and recommending products and services,” said Max J. Roberts, president of Barnes & Noble College. “In fact, we currently have nearly 250,000 Facebook fans, so we took our social media marketing strategy one step further by integrating the two successful platforms into one social retailing experience.”
- On average, fans spend an additional $71.84 on products for which they are fans compared to those who are not fans.
- Fans are 28% more likely than non-fans to continue using the brand.
- Fans are 41% more likely than non-fans to recommend a “fanned” product to their friends.
An innovative pioneer in social media, Barnes & Noble College continues to integrate this fast-growing tool into all of our marketing, communications, and customer service programs, including Facebook, Twitter and FourSquare initiatives.
Discover us on Facebook by visiting facebook.com/bncollege and connect with your bookstore Facebook page to see all of the exciting changes we’ve made.