At AddShoppers we have been busy number crunching. “Why?” We wanted to help eCommerce store owners and social experts understand a monetary value for social... it is the business we're in, after all. After pulling together and analyzing data from over 10,000 merchants, 1.2 billion page views and 212 million unique shoppers for 2013, we put together a slew of surprising and amazing insights.
For instance, did you know that the average order value when referred by social is ~$143.46?
Below we reveal a few of the amazing facts that we discovered in this data. To view the original/illustrated 2013 Social Commerce Report click here.
2013 Social Sharing Facts and Data
What is a social share 'worth'?
The stand-out channels for share values were Email and Google+, valued at $12.10 and $5.08 per share respectively. This demonstrates that social media is not just about Facebook, which made up the middle-ground of $3.58 for a share and $1.41 for a Like. It is clear from this that the direct targeting of email shares, and the community of Google+ does indeed lead to strong returns.
How well does each social network convert?
Conversion rates are critical knowledge for eCommerce store owners. The conversion strength of each channel followed the same pattern as share worth; Email - at a mammoth 7.02% conversion rate - held the top spot, followed by Google+, Facebook, Twitter and then niche channels.
Which social networks drive revenue?
In terms of revenue generation the tables have turned. Pinterest generated almost a quarter of social commerce revenue, narrowly beating Facebook by 0.11%. Showing that despite the comparatively small user-base, the visual emphasis and focus on product showcasing makes Pinterest shares a lucrative source of customers.
In comparison, Google+ accounted for a lowly 6.58% of revenue, making the social network hardly worth a store owners’ time. Unless perhaps you sell niche products for Google employees!
Which social media site is getting the most social shares from ecommerce sites?
Pinterest comes out on top again in share volume. But this time it is Twitter that has lost out in the photo-finish; Pinterest was responsible for 37.45% of shares, while Twitter follows closely behind at 37.2%.
Which social network drives the most traffic with each share?
While Twitter is number one in terms of clicks per share, the most notable findings are the high clicks from niche channels. Namely, StumbleUpon - with 0.95 clicks per share - Wishpot, Tumblr, Polyvore and Kaboodle all beat Facebook’s 0.71 clicks per share.
This highlights the importance of social media relevancy.
Facebook users, even though they're connected with their friends, may not share similar interests in products. In contrast, the other networks' users are actively seeking links to content that fits their interests, even if it was shared by a stranger.
Are the smaller, niche social media sites worth the effort?
The niche channels examined helped bring in a combined 4.75% of social revenue, with Tumblr shares contributed towards 2.56% of overall social revenue. Furthermore, Tumblr received 1.88 times more shares than Google+. Thus it is clear that these niche channels have the potential to disrupt within their target demographics.
Ultimately, the key lesson from this data is there is no single best social commerce channel. Rather, the optimal channel depends on social objectives, target market, and product type.
While averages and collective data is great, in order to learn which social networks are driving the most traffic and the most revenue to your ecommerce store specifically you need testing and data; sign up for AddShoppers, add the plugin to your store, wait, and see the social ROI analytics to find out which social channels are providing the most revenue to your store.
To see the rest of the 2013 social commerce breakdown, Click Here.