The overabundance of passwords and usernames is a reality. As explained in this blog, it has now taken the form of password fatigue. The gravity of this becomes much sharper when a shopper has to put a password- username combination into the tiny screen of a phone. Social Login has offered a credible way out to this scenario by allowing users to use a social network platform of their choice as a credential to log in into your website. Its positive impact on the customer psyche has been proven by the 65% of people who “always or regularly” use it. Moreover, 60% of shoppers are more likely to use it on mobile. Clearly, the ease in the registration and checkout process reduces the shopping cart abandonment, and, thus, increases your conversion rate. So, just like every other industry, the electronics industry too will be at the receiving end of benefits that Social Login brings in. Let’s zero in on the usefulness of social login for electronics brands and retailers.
The electronics segment is on the verge of explosive growth. Reports suggest that global consumer electronics market is expected to expand at 4.0% CAGR by 2022. Looking at our prevalent multi-device shopping culture, it’s clear that all these sales are not coming from one single channel. They are not coming from one digital device either. Omni-channelization of business is the reason why 36% of US organizations interact with consumers in five or more channels (Source: Experian).
Social login gives consumers the ability to navigate across these multiple devices and touch-points by tying all actions and behaviors to individual user identities with the touch of one putton. Whether they are on smartphones, laptops, desktops or tablets, social login will be the link through which they can connect to your business.
The dynamics of electronics goods revolve around functionality. Look, elegance and aesthetic also have their own importance, but their sphere of influence in electronics is not as large as it is in fashion. The prime concern of electronics buyers is the utility of a product. But a time element is necessary for that utility appeal to creep up into the visitor’s mind.
Users should spend enough time on your site to understand how a product will perform, what its characteristics and specialties are, and more importantly, how it is different from other ones. Due to the ability to bring in the element of personalization, socially logged-in users are proven to engage with your brand on a deeper and more frequent level. The reason for this is they have willingly entered into a personal relationship with your brand. That’s why social login users, on average, view 11 pages per visit, compared to the industry average of 6. The more time they spend on your website, the greater the possibilities of conversion.
M-commerce is believed to grow from $122 billion in 2015 to nearly $319 billion by 2020, according to a new report from Javelin.
Such a huge opportunity to capture a large market share may get washed away by conversion barriers like the frustration of registering/logging in on a small device. Social login can eliminate that hardship for buyers. Besides, traditional third-party cookies don’t translate to mobile devices, giving brands no way to re-target mobile users or recognize them as they move back and forth between channels. But social login implementations tie cross-channel activities to a single user identity, making it possible to create cohesive multi-channel experiences. Also, by integrating payment providers like PayPal, it simplifies the payment process. Note that 8% have abandoned the cart as they felt that there were not enough payment methods.
In any era, youngsters have always been at the forefront in embracing technical advancements. Millennials are no exception. A study conducted by Consumer Electronics Association (CEA) found that millennials have the highest intent to purchase CE devices, with 75% planning to purchase CE products in the next 12 months. With $1.3 trillion annual buying power, they do play a significant role in the growth rate of the electronics industry.
But apart from being buyers, millennials affect the sales funnel by becoming influencers. The same CEA study revealed that millennials are advocates, too. 60% say they have some influence on their parents’ CE purchases, and 41% give advice to friends and/or parents on the CE products they should purchase. As people listen ardently to their peers and relatives, these stats underline the role of millennials in shaping the overall purchasing trends of electronics buyers.
This makes no space for doubt that electronics brands need to win millennials. But to do that, they have to target where millennials dwell…and that place is social media. A CEA study revealed that 24% of consumers who use social media say that they always or almost always refer to social media websites before they make a consumer electronics purchase. For high engagement users (13.5 or more hours per week) this increases to 65%. What it suggests is the pivotal role that social media play in shaping their buying decisions. Easing the registration and checkout process for this demographic group by implementing social login for electronics brands is vital, as that’s what is at the core of the existence of social login.
Olympus, a premier consumer electronics manufacturer, wanted to boost the reach and efficiency of its loyal program by activating its most loyal members. It also wanted to connect their social actions to its Olympus Rewards program. To make it easy for loyal members to shop and refer, we suggested the integration on Social Login into its marketing efforts.
As expected, we saw a steep surge in engagement and better promotions of direct purchases due to the right implementation of Social Login. Social Login users represent nearly 20% of all customers. This case study, which you can get here, is a testimony of how Social Login Platform for electronics can really prove extremely helpful.
Note: A Social Login platform addresses pain points of each and every industry. This blog explains how it can help fashion industry.