|By PR Newswire||
|December 11, 2012 06:31 AM EST||
MINNEAPOLIS, Dec. 11, 2012 /PRNewswire-iReach/ -- 8thBridge®, the market leader in social commerce, today announced the results of its second annual Social Commerce IQ (SCIQ) report, which analyzed the social commerce strategies of the majority of companies on the Internet Retailer 500 (IR 500) list. The study revealed a number of new best practices as compared to the 2011 report, including an extended focus beyond simply increasing social network presence to include creating richer social shopping experiences that are directly integrated with, and driven from, the top players' ecommerce sites.
The 2012 SCIQ: Retail report covered more than double the number of companies as the 2011 study, which focused entirely on retail brands. The report also reflected a major shift in social commerce strategy that is perhaps best exemplified by increasing interest in Pinterest, which has been adopted among 78 percent of IR 500 companies in less than a year but has not generated a corresponding rise in traffic or sales conversion. Pinterest emphasizes curation and the concept of an Interest Graph that creates more meaningful connections based on things that interest people rather than simply who they know.
"In line with the expanding role of social commerce and the new skill sets required by companies to fully monetize its benefits, this year's SCIQ Top 25 reflect both traditional and non-traditional companies," said Wade Gerten, CEO of 8thBridge, Inc. "Three types of companies have emerged as leaders in this year's report – the first is ecommerce companies that have deeply integrated social functionality into their sites, the second is 'in-transition' companies that do well in all social commerce areas, and the third is strong viral companies that score exceptionally well in social network branding and referral traffic."
The top retailers identified in the SCIQ report included many who were new both to the SCIQ 25 list as well as this year's IR 500 rankings. Based on a weighted total of four key success factors, the top 25 companies are:
- AE.com (American Eagle Outfitters)
Details about the Report
The 2012 SCIQ: Retail report covered a broad spectrum of retail brands in segments ranging from apparel, computers/electronics, health/beauty and jewelry, to toys/hobbies, flowers/gifts and sporting goods. Mirroring the latest social commerce adoption trends, the report evaluated four success factors as the industry extends beyond focusing exclusively on social network presence to include integrating a richer set of social networking experiences directly with their own ecommerce sites. These success factors include:
- Increasing brand awareness on social networks, including not only Brand-to-Fan sharing on Facebook fan pages, but also friend-to-friend sharing facilitated by deeper website integration with social networks.
- Increasing total upstream social traffic, as percentage of total traffic from each of the social networks.
- Increasing website "social lift," which is measured by the increase in site visits, conversion and shopping basket size that results from implementing engaging social experiences that promote social sharing, rewards, curation and discovery.
- Increasing social CRM (SCRM) potential, which is evaluated both by the social experience that is provided in order to collect social data, and by what type of data is collected.
The report also identified specific best practices that top brands implemented during 2012, including offering social expression capabilities and rewards, creating social list and curation opportunities, enabling social discovery features, and using Interest Graph data. Other key usage statistics emerged, including:
- Facebook upstream traffic is now 2.46%
- Pinterest upstream traffic is now 0.11% (low)
- Twitter upstream traffic is now: 0.06% (a distant third)
- 35% of companies researched had apps on Facebook that were not functioning and/or were out of date.
- 51% of companies have incorporated the Pin It button
Additionally, the report included results from a survey of 1,819 U.S. residents between July 9 and July 12, 2012, regarding their Facebook usage and interest in social commerce. Key findings include:
- 70 percent of respondents would rather hear about a new product from a Facebook friend, than from a brand.
- 57% have asked their friends on Facebook for advice before purchasing a product.
- 31% say they don't share products on social networks, while 63% say they share on Facebook, 25% on Twitter, and 22% on Pinterest.
- 64% said that more Facebook "likes" on a product do not increase the likelihood that they will buy that product.
- 44% say they are most likely to discover new products compared to 21% on Pinterest and 13% on Twitter, but 37% don't pay attention to posts about products.
- 56% do not share things on social networks to get rewards.
8thBridge® is a registered trademark of 8thBridge, Inc.
Facebook® is a registered trademark of Facebook, Inc.
Pinterest® is a registered trademark of Pinterest, Inc.
About 8thBridge, Inc.
8thBridge makes it possible for customers to shop where they socialize and socialize where they shop. 8thBridge's clients empower their customers to shop on their own terms in a shopping experience that is portable, personalized, and participatory. From the groundbreaking early days of F-Commerce with 1-800-Flowers in 2009, to the award winning Delta Air Lines social travel planning app in 2010, to the 2012 launch of the Ticketmaster Timeline app, 8thBridge has partnered with some of the world's most respected and innovative brands, including American Apparel, Blue Nile, Coach, Deb Shops, Delta Air Lines, Dogeared, Juicy Couture, Musician's Friend and Ticketmaster. 8thBridge is funded by Split Rock Partners and Trident Capital. For more information, connect with us at /www.8thbridge.com and on Twitter at twitter.com/8thBridge.Media Contact:
Libby Smith, 8thBridge, 720.936.9889, [email protected]
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
Oct. 28, 2016 08:00 PM EDT Reads: 2,006
SYS-CON Events announced today that Enzu will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their online busine...
Oct. 28, 2016 07:30 PM EDT Reads: 1,493
In his session at 19th Cloud Expo, Nick Son, Vice President of Cyber Risk & Public Sector at Coalfire, will discuss the latest information on the FedRAMP Program. Topics will cover: FedRAMP Readiness Assessment Report (RAR). This new process is designed to streamline and accelerate the FedRAMP process from the traditional timeline by initially focusing on technical capability instead of documentation preparedness. FedRAMP for High-impact level systems. Early in 2016 FedRAMP officially publishe...
Oct. 28, 2016 07:15 PM EDT Reads: 680
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Oct. 28, 2016 07:00 PM EDT Reads: 4,246
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Oct. 28, 2016 07:00 PM EDT Reads: 420
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls...
Oct. 28, 2016 07:00 PM EDT Reads: 405
Qosmos, the market leader for IP traffic classification and network intelligence technology, has announced that it will launch the Launch L7 Viewer at CloudExpo | @ThingsExpo Silicon Valley, being held November 1 – 3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The L7 Viewer is a traffic analysis tool that provides complete visibility of all network traffic that crosses a virtualized infrastructure, up to Layer 7. It facilitates and accelerates common IT tasks such as VM migra...
Oct. 28, 2016 06:30 PM EDT Reads: 665
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, will discuss the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They will also review two "free infrastruct...
Oct. 28, 2016 06:30 PM EDT Reads: 385
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
Oct. 28, 2016 06:15 PM EDT Reads: 2,942
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, you'll learn about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how Docke...
Oct. 28, 2016 05:45 PM EDT Reads: 1,733
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Oct. 28, 2016 05:30 PM EDT Reads: 328
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Oct. 28, 2016 05:30 PM EDT Reads: 3,335
President Obama recently announced the launch of a new national awareness campaign to "encourage more Americans to move beyond passwords – adding an extra layer of security like a fingerprint or codes sent to your cellphone." The shift from single passwords to multi-factor authentication couldn’t be timelier or more strategic. This session will focus on why passwords alone are no longer effective, and why the time to act is now. In his session at 19th Cloud Expo, Chris Webber, security strateg...
Oct. 28, 2016 04:45 PM EDT Reads: 338
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
Oct. 28, 2016 04:30 PM EDT Reads: 1,231
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
Oct. 28, 2016 04:30 PM EDT Reads: 787