Project Objective
In general social media and ecommerce are considered as one of the most fastest and sophisticated successor of the old fashioned advertising trends. It has been observed that social network has allowed people for exchange of views and share their experience of the transactions. The rise of social search in the search engines has been identified as the main source to find information related to products, which has led to popularity of Social e-commerce. In several occasions the consumers don’t search the entire internet, but often contact with their respective friends on Facebook or contacts on LinkedIn or Twitter. It has been often seen that consumers of all age group share stheir respective experience on the products and brands and consider the buying it only when recommended by others. In the leading ecommerce sites, it has been seen consumer rating feedback and product ratings play a vital aspect of social ecommerce (Ijctet.org. 2017).
The report has aimed to review the literature associated to the general opportunities and the challenges social ecommerce and then further prepare a propose a study to state about the present challenges.
The various types of the process objective have been stated below as follows:
- To know about the general opportunities and challenges in social ecommerce
- To know about the relevance of social ecommerce in the recent times
- To know about the current opportunities in social ecommerce
- To know about the current challenges in social ecommerce
- To suggest strategies to overcome the challenges in social ecommerce
The project has been seen with a limited scope in the areas of social ecommerce. It has not shown the in-depth analysis of the challenges and opportunities in ecommerce, instead the research will focus on the relevant facets of social ecommerce.
Social E-Commerce
The term was coined in November 2005 by Yahoo to support the collaborative shopping tools such as user rating, shared pick lists and user generated content for online product information and advice. Social E-Commerce is considered as a subset of general ecommerce and it involves the consideration of online media and social media to support the user contributions and social interactions in assisting of the online buying and selling process. The use of the social ecommerce has been seen to be evident in use with social network(s) in the context of e-commerce transactions. The process of social ecommerce has been seen to assist the companies in engaging in terms of brands as per social behaviour of the customers. It has been further able to provide incentives for the customer to come back to their websites. It also provides the opportunities to the customers to talk about the brand. It has been also seen to provide the opportunity to compare and choose the competitor (Visenze.com. 2017).
Project Scope
Reciprocity- This has been seen to be provide the various type the opportunities which are associated to the person feeling the need to return the favour, which may be done either by return of favour or giving recommendations.
Community – When an individual is seen to share a particular value then the people of that community feel that the product or the services is seen to be acceptable in nature. This particular trend of the buying patter is further seen to be carried on the by the various types of the members of the community. It has been seen to be beneficial for the company to state about eh various types the involvement of the product and develop the engagement in social partnerships thorough building partnerships (Companies.bnpparibasfortis.be. 2017).
Social Proof- This has been identified with the fact to receive the various types of the positive feedback associated to the show the proof of purchasing of similar things. This particular trend has been particularly seen to be evident in the companies such as eBay and Amazon. This has been further seen to allow for the immediate action of generating list showing the purchases. This has been further seen to be conducive to the seller in building positive trust (Arxiv.org. 2017).
Authority- Many people have been seen to show the proof based on the will to consider social feedback and show the proof of other people buying or liking the similar products. In case the number of users has been seen to be more then the proof of recommendation will be based on the various types of recommendation which are bought at the same time. In case there have been several reviews about a particular product. In case there are several user reviews about a product and consumers willing to trust their own a decision for purchasing an items (Salacka and Salacka 2017).
Liking- People has been seen to trust on the various types of quality of product based on the likes of particular product.
Scarcity- This has been identified as a major part of supply chain and is seen to be assigned with high demand or with shortage. Hence, in case a person is convinced of purchasing which is unique or not easy to acquire, they will be having more willingness to make the appropriate purchase. This has been seen to be particularly applicable for Zara and Apple Inc, whi has been able to convince the public in possibility of missing out on purchase (Ysearchblog.com. 2017).
Literature Review
Some of the main features of the social commerce have been discussed with the “BankInter Foundation for Innovation conference on Social Technologies”, which has been further related to the 6 C’s of the Social technologies. Some of them has been listed below as follows:
Content- The basic needs for the customers have been considered with the engagement of the stakeholders, customer and the various types of the prospects which has been published in the web. Some of the early examples of this have been evident in terms of the brochure sites for organizations which have matured in vast amount and growing material consideration, which has been published in web and real time. Google has been seen to be such an organisation which is seen to be responsible forefront of indexing and making of findable content in the web (Www-03.ibm.com. 2017).
Community- The audience treatment with the community has been further seen to be based on the sole objective of fulfilling customer needs via tangible value. The early community incarnations has been mobilized with the engagement and the registration done via email. This has been further seen to be included in the chat rooms, online forums and the various types of the membership groups with Yahoo Groups. The Social networks are further seen to be based on various types of the integration of the communities such as Facebook and Yahoo! Groups for the various types of the discussions associated to interpersonal interactions (Digitalintelligencetoday.com. 2017).
Commerce – This has been seen with treating the audience with the objective to build sustainable relationship by providing of tangible value. The early incarnations of the community has been considered based on transactional web presence, typically seen with travel sales, insurance companies and retail banks.
Context – The online world has been seen to be based on the various types of the considerations with the presence in mobile devices. The online payment process can be further preceded with Google checkout or the check in at the physical location via Google checkout at the physical locations via Foursquare and Facebook in the online data entity. This is an important aspect of social commerce (Katz et al. 2017).
Connection – The online world is able to track the real world an event primarily enables in the mobile electronics. The various types of the scope of relationships has been further identified in terms of the interactions which takes place among the individuals and the varisddou types ot actions based on social commerce.
Conversation – The Cluetrain Manifesto has been particularly seen to be noted with the various types of the considerations which are seen to be related to the social conversations related to the conversations in the market.
Security and Privacy- It has been seen with various types of the privacy issues which have been seen to be related to the different types of the security and privacy concern. It has been seen that the knowledge of the personal information of the customer may be detrimental to the position of the individual reputation. It has been further discerned that the different type of the considerations associated to the challenge may arise from the online payment of money for the delivery of the product.
Possibility of wrong recommendation- In several cases the feedbacks provided in the responses may lead to various types of the problems which are seen to be associated to the different types the problems which may be possible due to a layman recommending a product to the other customers. It has been further seen that in several occasions that the other users may be recommending a certain product without using it for a long tenure.
Some of the main opportunities for the social ecommerce have been seen to given below as follows:
Engagement of customers with Social Behaviour: The opportunity for the Social E Commerce companies has been has been seen with engagement of the customers with the different brands as per the social behaviours. This has been seen to be conducive in taking of the various types of the decision related to online purchase of a product.
Incentive to the customers: The incentives of the customers are seen to be based on the various types of the decision which are seen to be associated to the feedback of the customers. In several occasions various types of the ecommerce websites has been seen to related the feedback of the customers which are accredited by several other buyers and this in turn is seen to be based on the various types of the incentive program for providing the appropriate information about the product.
Provides the opportunity to talk about the product- The Social ecommerce has been seen with an immense potential to showcase the individual opinion about a product. It has been further seen that the various types of the options to take a survey about the delivery quality and the feedback section has been seen to be conducive in proving specific feedback of product.
Opportunity to compare the products: The main importance of the social ecommerce has been seen with the opportunity to research, compare and to know about the various specifications of the competitors. This has been identified to be one of the biggest advantages of using social ecommerce services.
Conclusion
The study has proposed to state the various facets of the Social Ecommerce. The main forms of the review of literature have stated that the opportunities have been identified with the engagement of the customers with the different brands as per the social behaviours. This has been seen to be conducive in taking of the various types of the decision related to online purchase of a product. The various types of the other present opportunities has been identified incentives of the customers are seen to be based on the various types of the decision which are seen to be associated to the feedback of the customers. In several occasions various types of the ecommerce websites has been seen to related the feedback of the customers which are accredited by several other buyers and this in turn is seen to be based on the various types of the incentive program for providing the appropriate information about the product. The present challenges have been considered with immense potential to showcase the individual opinion about a product. It has been further seen that the various types of the options to take a survey about the delivery quality and the feedback section has been seen to be conducive in proving specific feedback of product.
Reference List
Arxiv.org. (2017). [online] Available at: https://arxiv.org/PS_cache/arxiv/pdf/1104/1104.0942v1.pdf [Accessed 18 Aug. 2017].
Companies.bnpparibasfortis.be. (2017). Social media and e-commerce: opportunities and risks. [online] Available at: https://companies.bnpparibasfortis.be/en/article?n=social-media-and-e-commerce-opportunities-and-risks [Accessed 18 Aug. 2017].
Digitalintelligencetoday.com. (2017). [online] Available at: https://digitalintelligencetoday.com/documents/Bazaarvoice_2012.pdf [Accessed 18 Aug. 2017].
Ijctet.org. (2017). [online] Available at: https://ijctet.org/assets/upload/526ijctet-12-nov-dec-2014(pn%2023-28).pdf [Accessed 18 Aug. 2017].
Katz, R., Litsa, T., Roberts, A., Litsa, T. and Litsa, T. (2017). Top 5 Social Marketing Trends for Brands to Watch in 2015 | ClickZ. [online] Clickz.com. Available at: https://www.clickz.com/top-5-social-marketing-trends-for-brands-to-watch-in-2015/28989/ [Accessed 18 Aug. 2017].
Salacka, D. and Salacka, D. (2017). What are the biggest E-Commerce Challenges and Trends of 2017?. [online] ECN | E-Commerce Nation. Available at: https://www.ecommerce-nation.co/ecommerce-challenges-trends-2017/ [Accessed 18 Aug. 2017].
Social Media Today. (2014). 4 Core Social Commerce Trends In 2014. [online] Available at: https://www.socialmediatoday.com/content/4-core-social-commerce-trends-2014 [Accessed 18 Aug. 2017].
Visenze.com. (2017). 5 Great social commerce sites you can learn from. [online] Available at: https://www.visenze.com/blog/5-great-social-commerce-sites-you-can-learn-from [Accessed 18 Aug. 2017].
Www-03.ibm.com. (2017). IBM – Software – WebSphere Commerce . [online] Available at: https://www-03.ibm.com/software/products/en/websphere-commerce [Accessed 18 Aug. 2017].
Ysearchblog.com. (2017). Access Denied. [online] Available at: https://www.ysearchblog.com/2005/11/14/social-commerce-via-the-shoposphere-pick-lists/ [Accessed 18 Aug. 2017].
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