Converting Social to Sales

 
All but one of the top 100 global retailers fail to convert social into sales. 
That's the claim from a new report, The Three Stages of Social Maturity, from social commerce specialists Buyapowa. The lone success?
Tesco. 
While most companies invest in creating a multi-platform presence, they aren’t chasing sales by using co-buys, gamification and dynamic pricing.
The report's key findings include:
Only one global retailer has reached stage 3 of social maturity (building a social sales channel) while 82% are stuck firmly at stage one (concentrating on attracting fans and followers). 
Follow for a follow. For every 100 followers they gain, 66% of leading retailers follow five or less, meaning the giants are more concerned with broadcasting to their audience rather than listening to them. 
Have you reached that point when you want to complain about a service but the company's Twitter feed is full of funny/silly pictures? It intensifies the annoyance. 
The social media doghouse includes Lidl, with 72% of their posts being about products, and Aldi, whose audience is four times less engaged with their content than M&S or CostCo. 
Social media doesn’t just have to cost you money; it can help you make it too. Someone tell the big boys. 

All but one of the top 100 global retailers fail to convert social into sales. 

That's the claim from a new report, The Three Stages of Social Maturity, from social commerce specialists Buyapowa. The lone success?

Tesco. 

While most companies invest in creating a multi-platform presence, they aren’t chasing sales by using co-buys, gamification and dynamic pricing.

The report's key findings include:

  • Only one global retailer has reached stage 3 of social maturity (building a social sales channel) while 82% are stuck firmly at stage one (concentrating on attracting fans and followers). 
     
  • Follow for a follow. For every 100 followers they gain, 66% of leading retailers follow five or less, meaning the giants are more concerned with broadcasting to their audience rather than listening to them. 
     
  • Have you reached that point when you want to complain about a service but the company's Twitter feed is full of funny/silly pictures? It intensifies the annoyance.
     
  • The social media doghouse includes Lidl, with 72% of their posts being about products, and Aldi, whose audience is four times less engaged with their content than M&S or CostCo. 

Social media doesn’t just have to cost you money; it can help you make it too. Someone tell the big boys. 

Photo (cc) thebarrowboy. Some rights reserved.