We’ve been talking about f-commerce as a huge opportunity for fashion brands and startups, so when we received Sneakpeeq’s social commerce infographic, we couldn’t contain our excitement. We recognize that brands have different constraints and considerations, but Sneakpeeq’s stats offer greater insight into the value of social commerce.
Sneakpeeq is one of the fastest growing social shopping companies on Facebook. Since participating in our initial FashTech panel in November 2011 (video below), Sneakpeeq has partnered with Facebook in their Open Graph initiative. They were also selected as a Top 10 Social App of 2011. These are impressive achievements for a social commerce startup. But for fashion brands and retailers, Sneakpeeq offers an example of something more.
Sneakpeeq shows us why social shopping and social networks are so important. As Henry Kim, President and CEO of Sneakpeeq, wrote to us in an email, “We are starting to see real numbers to what people are talking about and speculating in fashion online shopping.”
We offer a few key takeaways and considerations for fashion brands, but view the infographic below and tell us what you think in the comments below. Are you convinced? Not convinced?
- Increase engagement using Facebook. 63% of people are already signed into Facebook before visiting Sneakpeeq. Leverage this time spent online to engage with users. Push photos, products, videos, and other content to encourage ‘likes’ and sharing.
- Friends of Fans are huge opportunities for exposure and sales. Whether it’s an invite through a friend, or influence through Facebook facepiles, friends of Fans and friends of customers have great value and offer the best form of advertising.
- Social networks offer reach. 83% of sneakpeeq sales are from brand’s first time customers. If new customers are an important goal, use social networks to drive new customer acquisition.
- Popular products drive demand. This is a no brainer. Figure out what people like and promote it.
- We don’t know when the majority of Sneakpeeq’s users are connected to Facebook, or if this behavior fluctuates throughout the day. Learn about your visitors’ Facebook usage habits to push content more effectively.
- The success illustrated by Sneakpeeq works because they are inherently a social commerce platform with the right game mechanics and shopping tools. So we do not advocate allocating all social media budget to Facebook campaigns solely based on their stats. But one can maximize the value and return of Facebook campaigns by developing a clearly defined strategy, i.e., drive engagement, share content, drive new customer sales, and promote new products.
- Popular products drive demand, but popular to whom? A hot seller may be “hot” for the general population but not for me. There still needs to be some personalization. More importantly, there is value in promoting the newest products or collections through Facebook. Just as early adopters and trendsetters are important for driving new technologies and styles, promoting new or exclusive products are just as important for driving demand. A study by social commerce platform 8th Bridge found that 53% of consumers have liked a fashion page on Facebook to stay informed about new offers. So while popular products are important in driving demand, we suggest promoting new products and offers.
Mika Uehara is co-founder of SFFT. You can send comments or follow her on Twitter.