Social network opportunities abound for retailers

Shoppers are willing to interact with retailers through a variety of social networks. The 2011 Social Commerce Study, a joint research project by Shop.org, comScore and Social Shopping Labs, indicates retailers have limitless opportunities to capitalize on consumer interest.
According to the survey, 42% of online consumers have “followed” a retailer proactively through Facebook, Twitter or a retailer’s blog, and the average person follows about six retailers. The majority of survey respondents (58%) said they follow companies to find deals. Nearly half (49%) say they want to keep up to date on products. More than one-third also follow retailers for information on contests and events (39%).
Though many retailers use social media to build their brand, research indicates that companies may also be able to monetize these channels. According to the survey, more than half of Facebook users (56%) say they have clicked through to a retailer’s website because of a Facebook post, while over two-thirds (67%) of Twitter users say a post has caused them to click through to a website. Consumers are also interested in buying directly through social networks. One-third of survey respondents say they would likely make a purchase directly from Facebook (35%) or Twitter (32%).