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Retailers can use new tools to measure social commerce ROI

13/02/2012 - By Alexander Galasso

Retail merchants can use new online tools to track return on investments for social commerce efforts.

Tag: E-Commerce

A new tool that measures the ROI of online retailers' social media efforts can help businesses make more informed decisions. The service tracks social media traffic and provides retail owners with feedback on how effective their social commerce efforts are.

Since 83 percent of online shoppers say they are interested in sharing information about purchases with people they know, and 74 percent say they are influenced by the opinions of others in their decision to buy in the first place, according to Manage Smarter, merchants should consider social commerce an important gateway to customer influence.

By participating in these social media sites, merchants can learn what consumers are saying about their products and try to direct potential customers to web-based stores to buy products through online payment services.

With contextualized information, merchants will be able to see which social networks are driving the most sales through their online credit card processing systems and what types of social sharing are generating interest in their products and services. As they learn more, businesses will be able to produce marketing efforts that are tailored to specific demographics and potentially generate more sales.

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