Daily Dose of iQ: Social Commerce Infographic Breaks Down One of the Biggest Marketing Trends of 2011

Dec 09, 2011 — Allan Pulga

Marketing blogger Drew McLellan posted a wicked social commerce infographic a couple days ago and his timing couldn't be better.

Social commerce has definitely been one of the major marketing trends to take off over the past year. All around us, we see examples of companies big and small ramping up marketing efforts through social media, discount websites and apps, location-based services and even viral video.

After all, humans are social creatures and brands are constantly on the lookout for new ways to leverage our social instincts to drive sales. This infographic (created by the folks at TabJuice.com) does an excellent job of summarizing how social commerce works and breaking down its key psychological elements.

  1. Social Proof: "We look at what others are doing or have done to resolve personal insecurity when making a decision."
  2. Authority: "Specialists' findings are highly regarded due to their expertise and authority."
  3. Scarcity: "We instinctively assign greater value to resources as they become less available due to fear of potential loss."
  4. Like: "We emulate and agree with people we like, admire and find attractive because it helps build social bonds and trust."
  5. Consistency: "When faced with uncertainty, we prefer options that are consistent with our beliefs and past behavior."
  6. Reciprocity: "We have an innate desire to repay favors in order to maintain social fairness whether those favors were invited or not."

Social Commerce Takeaway: "Social commerce helps shoppers make smart and savvy purchases; in return, retailers are able to listen and implement changes in order to provide a tailored product and shopping experience."

Topics: Retail Operations, Mobile Industry, Retail Marketing

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