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April 2, 2013

LinkedIn Explains How Tech Buyers Use Social For Their Purchase Decisions

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LinkedIn Member SuggestionsAre you a technology buyer who is getting ready to purchase a new smartphone, tablet, ultrabook, or other gadget? According to the team at LinkedIn there is a very good chance you are utilizing social media to decide on the product you will buy.

LinkedIn on Tuesday released its annual Consumer Technology study in which it learned that  “88 percent of LinkedIn members own smartphones, compared to 46 percent of the general population.” The company also found that “62 percent of LinkedIn members own tablets, compared to only 22 percent generally.”

Realizing the pull it has among tech savvy buyers the social network examined the purchasing behaviors of its users in December 2012.

According to LinkedIn Marketing Solutions lead Michael Weir, 56 percent of LinkedIn members turn to their social networks for advice before they make a purchase.

The study also found that 53 percent of LinkedIn members share information about what they buy after making the purchase. That information in turn helps other tech savvy buyers on LinkedIn make their next buying decision.  read more

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September 20, 2012

Groupon Plans Credit Card Processing Service For Merchants

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Groupon and Merchants

Social shopping website Groupon has announced plans to offer a merchants app. The product which mimics itself after payment processor Square allows customers to install a plug-in device on their iPhone in order to create a point of sale terminal.

The shopping application also serves as a Groupon scanner, allowing customers to redeem their Groupon purchased deals.

To secure customers Groupon is promising a quick turn around in which all purchases are processing overnight, providing customers with near immediate access to their funds.

Each transaction will range in price from1.8 percent to 3.25 percent of each transaction alongside a15-cent fee. Much like traditional credit card processors the cost of each transaction will very with swiped transactions costing less than keyed transactions. Business and rewards cards will also come with extra fees. read more

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September 11, 2012

Facebook Drives Most Shopping Traffic But Pinterest Users Spend The Most Money [Infographic]

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Online Shopping ReferralsSocial media networks are big traffic drivers and when it comes to dominating the referral market no website is bigger than Facebook. While the world’s largest social network might drive 85.8% of online shopping sessions, Pinterest and its 11.3% referral traffic brings in the bigger spenders.

A new study byRichRelevanceexamined 700 million “shopping sessions” and found that shoppers who enter an online commerce portal from Facebook stay on the website in question longer and return to the online retail site more regularly. Facebook referrals average 7 pages per session while the study found Pinterest referrals check out only 4 pages and Twitter users stick around for just 3 session views.

The study also found that Facebook customers convert into sales 2.63% of the time while Pinterest customers buy .93% of the time and Twitter customers convert higher at 1.09%.

According toRichRelevancemuch of Facebook’s success appears to be from “Sponsored Stories” ads which tend to drive specific users with possible vested interested in certain brands.

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February 17, 2012

Groupon VIP Gives Better Options To Buyers For $30 Per Year

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Groupon Social Buying WebsiteGroupon is currently testing a new “Groupon VIP” program that gives users first dibs on deals and reservations while offering special pricing on select old-out and expired deals for just $30 per year.

The idea comes about from sites such as Ideeli which offers first dibs on designer clothes that would normally fly off the shelve in a retail setting. Flash sales have become a big deal on the internet and this new move by Groupon takes direct advantage of flash sales on a potentially large scale.

The service will also provide in-store credit for unused Groupon’s in some cases which we assume will need prior approval from the seller. It’s estimated that 20 percent of Groupons go unused at this time.

The program should also let Groupon compete with the likes of Living Social and Google Offers which allow merchants to keep a greater percentage of the profits while giving customers the chance to comparison shop before making a purchase.  read more

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