“Likes”, “Tweets” and “Pins” are no longer just social media metrics, but drivers of revenue that directly impact the bottom line. This week, Business Insider looked at retailers that are successfully capitalizing on media-based strategies to drive foot traffic to their brick-and-mortar stores.
Visual websites like Tumblr, Instagram and Pinterest have enabled users to create and share their own product catalogs, increasing visibility for retailers. Facebook and Pinterest alone currently account for over 56 percent of social generated e-commerce, and this number is only projected to grow as shoppers spend more and more time on their mobile devices. Mobile ads on social media sites will need to take this trend into account and move away from traditional display ads to better capture social media traffic.
The biggest hurdle for social commerce will be simplifying the buying process; since the ease with which consumers can buy a product dictates how likely they are to follow through with their checkout, decreasing the number of steps to the “Buy” button is the simplest way to drive traffic and increase revenue.
You read the full report here.
Here’s what else we’ve been reading at TrialPay this week:
• Mobile Advertising to Grow 300%, Hit $40 Billion by 2018: VentureBeat analyzes the likelihood of exponential growth in the mobile advertising market.
• Skill-Based Cash Tournaments the Key to Unlocking Extra Revenue: Jarrod Epps of Cashplay.co offers his advice on how developers can best monetize their players.
• InMobi Launches Advanced Ad Formats that Drive Higher Monetization and User Engagement for Mobile Developers: InMobi this week announced two new ad formats that will enable developers to easily and quickly build custom native ads using a pre-built, template-based approach.