Only 1.7% of Retail Products Appear on Social Commerce Properties, According to New Research by Kenshoo and DataPop
We are living in a social world. New research reveals that retailers and brands are missing vast opportunities to merchandize products via social commerce platforms. The report titled Search and Social Commerce Index was conducted by predictive media company Kenshoo and semantic ad company DataPop to shed light on how retailers can better integrate social media marketing activities to drive consumer engagement.
Their findings indicate a huge gap in the way that companies actually market their products via social channels, revealing that only 1.7 percent of products are actually promoted on social commerce platforms. Within popular categories like fashion and home products, retailers only post 7.2 percent of products via social means. Also, 70 percent of retailers fail to align copy in social posts with what consumers care about when discovering new brands and products.
“Ultimately, the findings we’ve discovered with DataPop can enable marketers to create an infinite loop of optimization,” said Doug Chavez, Global Head of Marketing Research & Content. “As marketers expand their presence on Google Shopping and social commerce properties, even more intent and interaction data emerges that we can leverage to improve cross-channel results.”
The research took a look at more than 40 retailers and over 3 million products and accompanying social promotion strategies to see just how marketing has changed over the coming years. Unfortunately, marketing hasn’t really hasn’t made the move to social as much as companies would like but this provides great opportunities for marketers who understand the power of social.
However, despite these findings, the shift to Pinterest, Twitter and Facebook looks promising for the future of visual marketing.
“Product listing ads and search continue to drive more than half of all site traffic for retailers, but social commerce sites, including Pinterest, Polyvore, Houzz and Wanelo, are driving big gains in traffic and sales for retailers,” said Jason Lehmbeck, CEO of DataPop. “Forty-two percent of marketers already leverage social commerce, and we expect that number to keep rising.”
Juxtaposing data sets can yield great results. Comparing data from social commerce networks with data from Google Shopping campaigns creates two-way opportunities to improve marketing investments. The data can be used to optimize product ads by examining them through the lens of consumer intent; Product Listings Ads data can similarly be used to reveal gaps in social merchandising by showing which high performing products haven’t been shared via Pinterest, Polyvore, Houzz and Wanelo.
“Kenshoo understands how to marry consumer intent data across the digital advertising spectrum, and its collaboration with DataPop highlights key retail insights,” said Gerry Bavaro, Chief Strategy Officer of Resolution Media. “Skilled marketers will undoubtedly leverage data from their product listing ad campaigns after they see these findings, and the report will help many understand how to better leverage search and social commerce across channels.”
Chavez added, “Kenshoo’s vision is about looking at a holistic consumer experience across channels versus an isolated approach. This partnership with DataPop to deliver consumer product interest from social commerce sites, such as Pinterest, is another step in helping brands leverage disparate data to intelligently optimize their product ads in an innovative and first to market way ahead of the upcoming holiday shopping season.”
No comments yet