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Customer acquisition, engagement and sales via social media

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Social Commerce solutions are a form of electronic commerce using social media to assist in the buying or selling of goods and services. This type of commerce utilizes user ratings, referrals, online communities and social advertising to facilitate online shopping.

The solution provides an avenue for consumers to conduct transactions over social media applications as a value-chain extension for social commerce use-case where discovery of products through browsing posts on social media platforms. This streamlines the time taken for the payment process, saving time for the consumer, reducing the time taken for product discovery to payments from 15 minutes to less than a minute and allows firms to receive payment almost instantly. This improves customer satisfaction and improves reconciliation of online sellers and small businesses.

Find out more at www.ey.com/sg/fintechhub .
For enquiries, contact us via email at fintech@sg.ey.com.

Veröffentlicht in: Business
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Customer acquisition, engagement and sales via social media

  1. 1. Customer acquisition, engagement and sales via social media Case study Context: A regional bank’s client — an apparel brand wanted to increase their level of customer engagement by using an automated social media marketing tool that could integrate within social media channels. Recommended configuration: • The integration of marketing plugins and inventory management platform, along with the client’s existing social media platforms, increased the frequency of customer engagement through the use of the embedded messenger chatbot because of added convenience in the customer purchase process. • Additionally, the chatbot provided automated customer assistance while increasing the frequency of sales hit rates through the various social media platforms. Client impact: • Converted 30% more customers from their social media channels • Improved customer-product marketing management • Quicker checkout and payment rates for customers Contact us Varun Mittal EY Global Emerging Markets FinTech Leader varun.mittal@sg.ey.com Current sales cycle from post or advertisement to website Wait for payment verification Purchase complete Click post Find product Add to cart Checkout Enter address Enter card details Average time to complete purchase: 15 minutes Lengthy check-out processes Low customer engagement Slow purchasing cycle Automated sales engagement and sales completion Omni-channel contextual sales Sell products instantly through social media posts and auto message, and walk customers through the sale. Customizations and API integrations Integrate with customer’s current commerce, loyalty, and other digital software and properties. Key Opinion Leader (KOL) and influencer Integrate products, and promotions with KOL’s and influencer’s accounts. Automatic push to checkout sales cycle Comment on social media Confirm on messenger app Purchase complete Entire sales cycle from social media posts to sales in less than a minute Other use cases Sales and ticketing Pre-orders Q&A automation Website: www.ey.com/sg/fintechhub Email: fintech@sg.ey.com Sahil Gupta EY ASEAN FinTech Manager sahil.gupta@sg.ey.com
  2. 2. EY | Assurance | Tax | Transactions | Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. © 2018 EYGM Limited. All Rights Reserved. EYG no. 011378-18Gbl ED None. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax or other professional advice. Please refer to your advisors for specific advice. ey.com