0:08 Hello, my name is Mary miller, I lead product marketing bazaar voice as we look towards what will drive e-commerce growth in the future. This is just a short overview of what trends we're seeing in social commerce and the growth of the social PDP. 0:22 Just to make sure we're all on the same page and speaking the same language for many people when they think of social commerce, they think of buying something on Instagram or Facebook. 0:31 And yes, social media is a source of transactions, but often overlooked and frankly, more powerful is thinking of social commerce as an opportunity to use content from social what we call social. 0:43 UGC to drive purchases on brand or retailer sites. E commerce, today's great selling the things you already know you want. 0:51 Take a look at any e-commerce site today, and you can see, it's full of technologies to help you find, evaluate and purchase products. If you're ready to buy, today's e-commerce sites are ready to take your order. 1:02 The reason social commerce is so important is because it solves a big unanswered need for consumers. What if you're not ready to buy and instead want to shop, as consumers were never only purchasing the things we know we want? 1:16 That's definitely true. If you ever walk into a big, physical, big box store and you have a list of things you want to get. You walk in with that list, but walk out with a huge cart of things you didn't even know you wanted. 1:28 That's because we find joy in the act of browsing and discovering things we never knew existed or we never knew we wanted. Physical stores have always taken advantage of our desire to explore. 1:39 But while e-commerce, as it excelled in transacting, it's failed at supporting that voyage of product discovery. The shopping and that's left a void. 1:49 Every major internet platform has recognized that shopping is the new battleground for the hearts and minds of consumers, and the way that every single platform is bringing shopping to consumers is through shoppable visual content content that grabs your attention and easily helps you understand what products are for sale in the bazaar voice network of 11,500 brands, of which 1750 are retailers. 2:13 We saw a 39% increase year over year of online orders in 2020. But while we know consumers were online more how much actual shopping is being done on social media. 2:26 To find out, we surveyed 42,000 global members of our influencer community. These are members of our community all around the globe who love trying and experiencing new products and offerings, and sharing that experience in real and authentic ways through reviews and ratings and posts on their social sites. 2:44 70% of respondents in the study were from Gen Y 18 percent, Gen X 10% Gen Z and boomers made up the last 2% Somewhat unsurprisingly, given there was little else to do, social media usage increased dramatically during lockdown, with 84% of survey respondents saying their time and social media significantly increased over the last 12 months. 3:09 Almost 3/4 said they are more influenced to shop via social media than before the pandemic. We also saw a significant increase in social over the last 12 months, buying directly from an e-commerce site, still driving the majority of shopping. 3:24 But where we're seeing the growth is particularly eye catching, especially when we look at Instagram and TikTok tok, which increased by 185% and 500% respectively, whereas we clearly see in store decreased by a huge 60% What are shoppers buying on social media more than other things? 3:42 Well, beauty products reign Supreme with a close follow by fashion for brands looking for an edge. It's not just about looking at what's happening on social. 3:53 Ultimately, it's important to understand what consumers want, and consumers also want social UGC to live in e-commerce experiences. This content is engaging. 4:02 It drives discovery, and it sells. In fact, another research study we did of consumers. 74% want to see visual and social shared on brands websites. 4:13 Consumers are looking for user generated content to do three things for them. Show me, convince me. InspirED me. It takes different content to address different consumer needs states. 4:25 Show me the first need to state that we think of as showing me with this product actually looks like, and we've been doing this. Well, for years. When you go to any e-commerce site, you can see a product on a neutral background and you can Zoom into it and you can see it in great detail. 4:38 You know exactly what you're going to buy. Convince me. About a decade ago, we started to ask ourselves, is this a good product? Is this worth my money? 4:46 And that's where the convinced me content came into play. That's what ratings reviews really Excel at. It helps us understand if we're about to make a good decision. 4:55 InspirED me part of e-commerce that has gone overlooked for decades now is that's part of Commerce. That isn't just about buying. It's also about shopping. 5:05 Shopping inherently is about inspiration, and that is where this emerging style of content is really becoming important content and helps them discover something they never knew they wanted in their lives. 5:17 And we see social now becoming more and more the start of the shopping journey. It used to be a nice sidebar reputation builder, but it's becoming the foundation of shopping. 5:27 This rise of new ways to be inspired and discover products and the way we experience information about those products is giving rise to the social PDP, as Keith mentioned earlier. 5:37 Some brands are already recognizing that they can learn from the experiences consumers are having on social in order to create more compelling shopping experiences on their own sites and with their retail partners. 5:48 These brands are harvesting all that great social UGC found on social and reusing it on their own sites, while also creating skull scroll based experiences on this site to allow people to use social to explore. 5:59 This example shows a specialty artisanal tile brand website where they're showing their products in context, and this context is coming from social. 6:09 And it turns out that when you invest in inspiration in that inspire me stage of content, consumers reward you from what we've seen with the brands and retailers we worked with. 6:19 By their harnessing social on their sites, they've seen increases and not only conversion, but more engagement, more time on their site, and they're adding more. 6:28 These consumers are adding more to their cart. River island and apparel brand uses social and visual content to increase sales by including client galleries on their site. 6:37 With this safe scene in 184% increase in conversion and a 45% increase in average order value, shoppers feel more confident with their buying, making them willing to fill their cart more and keep coming back. 6:51 Digitally native brands understand that every piece of content isn't about overtly selling your product. It's also about what the products can help you achieve away. 7:01 A luggage brand with 540,000 followers on Instagram really understands this. Instead of focusing solely on their products, they use content to inspire wanderlust, which hopefully result in you needing their products. 7:13 These photos, you see, don't always even show the product, but are what people would do with their suitcase. Get away to amazing places. Contrast this with the brand samsonite, who takes a more traditional product first approach. 7:26 Samsonite posts are largely about their products. This brand, which has been around much longer than a way, has a following about one quarter the size of the way. 7:36 From a content perspective, another thing these challenger brands often do well is become comfortable with asking for and using consumer and customer created content. 7:48 Take, for instance, this pair of security brands rang an 80 rings content is almost entirely sourced from customers, 80 almost entirely Post's brand created content. 8:00 As you can see here, rings content shows real life users showing how ring benefits them every day. Super authentic super will 80s more traditional approach is definitely more produced in comparison and definitely higher quality. 8:13 Yet ring is about seven times the followers of a substantially older and larger brand. I'd like to leave you with four key takeaways for how to look at using your social content as a strategic driver for boosting your e-commerce. 8:28 First, social commerce isn't just about the selling of products on social, it's also about the blurring of lines between social and e-commerce. 8:37 Today, social sites are increasingly borrowing from e-commerce sites, and e-commerce sites are increasingly bringing social content into their experiences. And this is all happening because while commerce broadly has had two modalities shopping and buying. 8:51 E-commerce is historically only been good at buying. Now social content is giving people the ability to browse, learn and become inspired. 9:01 The core of what shopping is about social content fulfills many of the content areas that are lacking today and creating a shopping experience that voyage of product discovery. 9:11 Make sure you're building a body of content that meets those three consumer states that we discussed. Show me, convince me. InspirED me. 9:20 And finally, look to and learn from challenger brands and work with a company like bizarre voice if you need to move quickly. With that, I thank you so much for listening and letting me share our view of the future of social commerce.
