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Global e-commerce generates more than $1.2 million in revenue every 30 seconds, according to a new report from the Associated Chambers of Commerce of India (ASSOCHAM) and Deloitte.
Further, the study found, social networks are contributing significantly to this revenue. Social media pages provide information regarding new products in the market, user reviews and ratings of the product, recommendations, and increasingly, the ability to buy directly from the site, rather than requiring a visit to a retailer's dedicated e-commerce site.
"Social media also helps e-tailers to build brand awareness by responding to customer queries," said D.S. Rawat, secretary general of ASSOCHAM. "Seasonal sales and offers are displayed in social networks to reach maximum number of people. E-tailers have even started to motivate customers with reward points to provide feedback on the product on social networks. Prospective customers also interact with users of the product or service on social networks before making purchase decision."...
According to this new report, customer-oriented actions drive the expected results for companies that understand what their customers need. This is what marketing is all about: building relationships with your customers to drive satisfaction and, consequently, increase sales. Social Media can maximize results for your customer service efforts.
"In marketing I've seen only one strategy that can't miss - and that is to market to your best customers first, your best prospects second and the rest of the world last" - John Romero