How can an account creation tool and a 5% discount be used to create over $300,000 in incremental revenue within 30 days? Recently, a Annex Cloud client used two simple tools to provide a rapid boost in revenue. There were no tricks or genius marketing strategy, just a very practical approach to driving revenue from social channels.
Here’s how they did it:
1. Offer Social Login for quick check out
If your brand serves millennials, odds are, they are already logged into their preferred social network when they land on your site. Knowing this and that requiring account registration through traditional forms causes on-demand millennial shoppers to quickly bounce like flubber makes the practicality of a one click social login very apparent.
After offering a social login alongside their traditional account creation form, the retailer saw bounce rates decrease as it collected high quality information for remarketing and to auto fill check forms from social network APIs like Facebook’s Open Graph.
2. Offer smart incentives for sharing
A prominently displayed Share and Save program gave site visitors a reason to share the brand with their friends and an extra incentive to make a purchase. Shoppers and their friends were given a 5% discount code, only after the friends they shared with also shared on Facebook, Twitter or via email.
Online shoppers today rely on peer opinions to discover new brands and products more than anything else. Shoppers who had registered through Social Login were able to share with just one click and the discount gave them reason to do so, as well as a reason to make a purchase.
In total this brand was able to use two social commerce tools to drive over $300,000 in incremental revenue in only 30 days. The data gathered from these campaigns will help inform its strategy as it begins to build out a customer loyalty program in the near future.