New Social Media Analytics Technology Measures ROI for Retailers
AddShoppers yesterday launched a new social commerce platform that tracks the ROI of social media traffic and significantly increases product sharing, free.
Now retailers can put a dollar amount to all types of social sharing and identify which social networks are driving the most sales. In addition, users can analyze demographics at a product level. For example, Product A might be more popular among males aged 25-34 on Twitter while Product B is shared more on Facebook by females aged 35-45.
"After setting up AddShoppers and incentivizing people to share, we are already collecting extremely valuable data, driving new social conversations, and acquiring new customers at a nominal cost per acquisition. AddShoppers brings eCommerce social media marketing to a whole new level," said Jed Young, Internet marketing manager at FairwayStyles.com, in a statement.
During their beta, AddShoppers' new Social Promo Callout technology increased Facebook Likes, tweets, and more by 30 percent on average. If a retailer chooses to offer a coupon for sharing, customers are alerted by a callout tag that displays the applicable discount next to the sharing button of choice. After a customer shares, their friends can click through to view the product and share for their own discount.
AddShoppers is integrated with some of the top eCommerce platforms out of the box, including: Magento, Shopify, Volusion, Yahoo! Stores, and Big Commerce. Only sharing sources that make sense for retail, such as Wishpot, Kaboodle, and Stumbleupon, are integrated. AddShoppers' Influencer technology is powered by Klout so retailers can sort by their most influential sharers. Sharing demographics are enhanced by Rapleaf and Facebook.
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Companies that fail at measuring ROI say it's too hard, too early, or they weren't asked.