Sharing links on Facebook can mean big dollars for Ecommerce
Recently an article on Tech Crunch look at the dollar value behind someone sharing a link on Facebook.
For example, if someone shared a product you sell online via Facebook, what would be the actual value of that link and in turn how much would you be willing to pay for it?
Well when it comes to events and ticketing, such as concerts, Evenbrite (the largest aggregator of events and ticketing online) has established a share on Facebook generates exactly $2.52 worth of ticket sales. They also established that in contrast, a share on Twitter was only worth $0.43 of a ticket sale.
The reason that events are so successful in the social media space is that they are inherently social themselves. If all of your friends are attending a concert, odds are you will also.
Why does Facebook have an edge over Twitter?
The answer is simple, it streams your share with your entire friend list, giving it the distance that many other platforms do not. Chances are that if you have both Twitter and Facebook, your closest friends are on Facebook while your distant or business related friends are on Twitter.
What benefit will this have for general Ecommerce websites?
We have known for ages that peer recommendation can sell a product online much quicker than someone just browsing a website. If my friend tells me they need a Blu-Ray player – I would quickly recommend them a Samsung – which I have already bought. This would increase the chances of them buying a Samsung product by a massive margin.
On this note, it is apparent that social sharing and recommendations via social media could have the potential to sell more product in your online store.
Ecommerce websites should start tracking the value of social media and the concept of recommendations and sharing. I think there is a grossly undervalued channel to tap and I am not even a social media fan boy. I simply see that recommendations sell products, so if you can empower users to go out and sell your products themselves via these recommendations, get to it!
