The Secret to Consistent Growth: Churn Management through Loyalty

A more crowded online marketplace with less barriers to entry and shoppers who are more comfortable buying from new online retailers make continued growth and maintaining market share more difficult than it has ever been. Growing traffic and increasing new customer acquisition are obvious factors to growth, but managing churn can be easier and have a much bigger impact. Don’t waste time searching out in the internet wilderness, managing churn only requires that you pay attention to the shoppers you already have.

Recently a niche retailer partnered with Social Annex to reduce their churn while leveraging its repeat customers to organically grow its market share through incentive driven referrals with a Customer Loyalty program. Here are 3 core concepts it used to take their growth rate to the next level:

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Brand Advocacy: 7 Brilliant (and slightly badass) ways to achieve it

Brand advocacy has been a big buzzword. With social commerce gaining steam, businesses are looking for ways to differentiate themselves from the crowd. As the internet gets more personal, businesses are as well. Social for brands is becoming more of an outlet to showcase company culture and lifestyle. In order to really stand apart from the crowd, it’s not enough to just have likes, follows or fans, but rather businesses have to focus on developing brand advocates. This can be tricky, but not impossible.  .

We’ve compiled a list of brilliant ways to achieve brand advocacy through various social channels and tools that might just give you some street cred.

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Google’s Wildfire goes out.

It looks like Google’s burning desire to dive into social commerce merely flickered and went out. Without a splash, Wildfire announced that they will be shifting their focus from social. But don’t think that you’re left out to dry, Social Annex can light a fire under your social strategy.

In addition to offering the same social contest tools as Wildfire, Social Annex offers 4 additional social suites: Loyalty, Social Commerce Apps, Social Login and Social UGC. Take your social contest strategy to the next level with additional tools for a seamless social experience across all your channels. Make it easy to enter social contests with Social Login. Amplify your contests’ reach with referral programs and incorporate them into a Loyalty Program for a complete, sustainable social solution. Below you’ll find that Social Annex offers over 20 social tools, in addition to social contests.

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Driving Conversions with Shares

Likes and follows are great, but they don’t always translate directly to sales. Likes and follows build authenticity and fandom, but in order to increase conversions and drive quality traffic, businesses must focus on shares. According to Nielsen, 84% of consumers worldwide trust word of mouth recommendations from their friends and family. Shares are the online version of word of mouth. They are trusted and more often than not, they drive quality traffic onsite that converts. Shoppers tend to share contests and promotions with like-minded friends who would be more likely to be interested in your products, especially if their friends already approve. Social Annex clients have seen that traffic from contests convert at 3x a higher rate.

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The First Step to Brand Advocacy: Referral Marketing

When brands approach us to increase their social reach and brand advocacy, the first social tool we suggest is a referral program. Refer a Friend is one of the easiest ways to get your shoppers to share your products with their friends, increasing your social reach, driving new traffic and helping your current traffic convert.

Referral marketing programs are structured to complement your business plan and are customized to attract your unique customer base. At Social Annex, we’ve come up with 6 best practices for developing your referral marketing program.

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Monetizing Instagram with Curated Galleries and Contests

In the past year, social commerce has really evolved into visual commerce. Visual social platforms have boomed in popularity in the past year and businesses have flocked to them. The most notable of which is Instagram with over 150 million active users. Instagram can be a bit of a headache for businesses because people can not directly click back to your site from an Instagram photo, unlike Pinterest or shares on Twitter and Facebook. Instagram is primarily a mobile app and most users do not stray away from the interface once they are on it.

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4 Tips to Pimp Up your Pinterest Strategy

Pinterest has really upped their game this year, introducing new ways for businesses to take advantage of this visual network. Preliminary data shows that it is driving 78% more revenue in 2014 compared to the previous year. And not slowing down with news to introduce paid advertising next quarter, similar to promoted pins.

Pinterest is not just for businesses with highly visual products. Pinterest promotes a lifestyle and can be easily incorporated into any type of business. For example, a tire shop could just post photos of their products, but in order to really engage with Pinterest users, the tire shop could add boards with cars, road trip ideas, fast food destinations, etc.

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Connect your shoppers to your customers with Social Q&A

Shopping is better with friends. They tell you the bad, the good and the ugly. Most importantly you can always trust them to be honest – if it makes you look fat, they’ll tell you. Make it easy for you shoppers to connect with their friends and past customers with the Social Q&A tool.

79% of consumers trust online reviews, as much as personal recommendations. More and more consumers are comparison shopping instore and online. With so many retailers out there, shoppers want to be able to make informed decisions. Social Q&A enables shoppers to ask their friends and past shoppers product questions before making a purchase.

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