Recent Survey Points to Increased Marketing Investments in Social Shopping Platforms Within the Next Twelve Months

Slickdeals Announces New Retail Insights Report - "Embracing Social Commerce: Strategies, Successes, and Future Investments among Retailers"

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Slickdeals

Jan 08, 2020, 09:30 ET

LOS ANGELES, Jan. 8, 2020 /PRNewswire/ -- Slickdeals, the leading crowdsourced social shopping platform, today announced its co-sponsored report Embracing Social Commerce: Strategies, Successes, and Future Investments among Retailers. Researched by WBR Insights, the report examines how social commerce, or the alliance of social media and ecommerce, is creating a new online shopping dynamic.

According to the report, 75% of companies surveyed say that they will either increase their investment in social media marketing within the next 12 months, or will maintain the same level of investment. 89% of the companies surveyed are either currently utilizing social commerce, implementing social commerce, or planning to do so in within 24 months at the latest.

Developing a meaningful customer engagement strategy is a challenge that 44% of companies struggle with the most. At the same time, 38% of these organizations are seeking to build a reputation that consumers recognize and trust, meaning that they are trying to build on the emotional bond that their brands have already created.

"For over twenty years, Slickdeals has been the place where millions of transaction-ready consumers come to socialize about shopping. As the only platform where consumers research, socialize, and purchase the best deals on their favorite products, we're able to connect brands with engaged and highly valuable consumers," said Tom Straszewski, Senior Vice President, Sales and Business Development at Slickdeals.

Still of debate among respondents is attribution, a means to determine how brands calculate value. Researchers asked respondents which method of attribution they favor: 34% assign attribution to the last click and 33% assign attribution to the first click, while 31% assign it to time decay, which is an algorithm-based method for measuring how long social media content lasts.

Added Straszewski, "We see that those who invest more heavily in social commerce tend to look more at first click versus last click attribution, given that a consumer's first click represents the beginning of their overall engagement with a brand and, thereby, the most meaningful step in the customer journey. Often, that first click comes from social commerce sites like Slickdeals."

For full report access, please email [email protected].

Methodology
The results analyzed in the report were gathered from responses to a digital benchmarking survey, and prepared by eTail researchers. 200 executives responded to the survey.

About Slickdeals
Slickdeals is the leading crowdsourced shopping platform, where 11 million monthly users interact to share the most up-to-date information on online shopping deals and coupons. Through the power of crowdsourcing, Slickdeals has saved its users over $6.8 billion by providing a forum for communication, as well as shopping tools such as its free Android or iOS app and its Chrome browser extension. Slickdeals is the eighth largest online shopping destination in the U.S. and consistently ranks in the Top 100 most visited sites in the U.S. per Alexa.

About WBR Insights
WBR Insights is the custom research division of WBR (Worldwide Business Research), the world leader in B2B focused conferences. From research-based whitepapers to benchmarking reports, infographics and webinars, our mission is to help global institutions across a variety of industries to inform and educate their key stakeholders while achieving their strategic goals. For more information, please visit https://www.wbresearch.com/insights.

About WBR
WBR (Worldwide Business Research) is the world leader in B2B focused conference events. Founded in 1996, the company produces over 100 conferences yearly designed to offer the leaders of emerging and established companies across multiple industries with actionable insights, educational discussions, and networking opportunities to inform and transform how they do business. The company also generates custom research to help companies educate the market on the latest developments and best practices. For more information, please visit https://www.wbresearch.com/ and follow us on Twitter @WBResearch.

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