It's SOCIAL Commerce, not e-Commerce... and yes, there is a big difference!

Example of an in-stream purchase opportunity.
(Source: Chirpify.com)

Have you heard the term "in-stream purchase"? Have you ever done it? If you haven't, you will and you're going to! It's true social commerce and it's going to be big!

Chris Teso, the CEO of Chirpify, describes the difference between "old" e-commerce and social commerce perfectly: "Social link sharing that eventually leads to a purchase is what we now often define social commerce as. The problem with this, and the previous definition, is that it's not actual commerce. It's merely a link that attempts to redirect one's attention, and browser, away from a social experience to a traditional e-commerce experience. If a consumer cannot pay in-stream on the social network, it's not social commerce, it's advertising." Brilliant, right? BAM, BOOM, BANG!!! It's like a slap to the forehead. 

I think the real power of true social commerce is this—An in-stream purchase opportunity delivers an actionable stimulant directly to the consumer and removes all obstacles that could derail the final purchase. BAM, BOOM, BOUGHT! Talk about instant gratification! That's as close to instant as you can get... without magic!

Think about it... social commerce will change the consumer purchase cycle. Consider this—the act of purchasing a product online goes from:

Old (Current) • SEE online or social channel >> CLICK link >>Leave Channel and go to eComm site >> FIND the item (again) >> ADD to cart >> COMPLETE transaction by providing personal information (billing and shipping)  Ugh... what a hassle!

to

New (Also Current, but just being discovered by smart retailers) • SEE >>> BUY

We are already starting to see true social commerce in action. Just imagine the potential:

• Turn image driven social platforms like Instagram and Pinterest into live catalogues or store-fronts.

• Peer-to-Peer Payments or Gifting (example: http://tweet-a-beer.com/)

• Social Fundraising by giving users the ability to donate to a cause by replying or commenting "donate" to a Twitter or Instragram post.

This is just the beginning of in-stream purchases. On this subject, I'd love to hear your thoughts, ideas, conceptual uses and possible fears.  Please chime in below.

Here's the question... Would you purchase a product this way? If so, why? If not, why?




Complementary SlideShare to this blog: http://www.slideshare.net/KellyBurnette/socialcommerce-18254964

Control Has Shifted to the Connected Consumer

Everyday, it seems, businesses across all industries are finding themselves in a social media quandary of sorts. They are finding it harder and harder to "control" their message. Why? Welcome to the era of the Connected Consumer.

Take the recent example from the motorsports world: NASCAR. This particular event is what I like to call the Wreck Heard Round the Web.

Background: 
On Saturday, February 23, 2013, during the very last lap of a Nationwide Series race, an incredible and extremely frightening wreck happened during which a rare, but horrible series of events took place. Large chunks of wreckage ended up entering the stands full of spectators. Approximately 28 fans were hurt, some quite seriously.

Social Media Connection:
As with any event, many fans were able to capture images and, most amazingly, actual video from just seats away, of the wreckage entering the stands. And, as is typical in this digital day and age, most images and one particular video was posted almost immediately to various social platforms.

NASCAR's Response:
Within minutes of the wreck and the preceding uploads, NASCAR officials were removing and blocking, with the help of YouTube, all fan eyewitness videos.

How do you think that went over?
Right! Not very well. The Connected Consumer was the first on the scene, the first to react, to spread the news, to share live updates, etc.

NASCAR took a PR bath over the next several hours. Theme: Copyright issues vs. News.

We'll see how it works out. Not over, yet: NASCAR Explains

But, this is just one more way the reach of social media and the Connected Consumer had a bigger, broader and quicker reach than a big business industry.