Turning conversations into cash: The Recommendation Economy & Social Commerce

For those of your currently snowed in and "working from home" (AKA PG Tips + Countdown + Sofa + Webmail) who may be in need of some intellectual stimulation you are in for a treat. I had the pleasure of giving a webinar for the PRCA as part of their Digital PR training series on the topic of The Recommendation Economy and Social Commerce - as I promised the participants I share now with you the deck from said presentation - which may be of interest!

In it you will see that I outline what I see as the three key styles of doing social commerce at the moment:

Social Intelligence

- This one is nothing new but is taking new forms as we see consumers getting more and more savvy about the way they shop by leveraging the recommendations and review of their peers to shop smarter - basically making conversations into cash

Social Capital

- Also nothing new but is finally beginning to see a financial benefit for the brands that give people assets that they can leverage as social capital - chiefly because now through things like in video adverts, foursquare rewards and Facebook deals we can link content to cash

Social Buying

- This one is new! You may jump straight to thinking of the likes of Gilt Group and Groupon (particularly given the rumours of the past couple of days about Googles possible acquisition) - but it goes beyond that. Things like F-Commerce - using Facebook based shopping portals are taking social buying into new and different ways. This one is turning cash back into conversations - that in turn can turn back to cash!

SocCom RecEcon

As I told the attendees this morning I don't think that any of these operate in isolation, but when used in conjunction can finally begin to move towards answering the WOMMA problem of ROI - lets start making our social communications work harder for us!

Over to you...

Have you seen any great example of social commerce in action?

Do you think that people will really begin to migrating to shopping in the social environment?

James Needs You!

Ok, so this is going to be one of those "try and keep it humble but big yourself up" kind of blog posts!

I have been shortlisted for the Reputation Online Awards in the "Greatest Contribution From An Individual" category. This for anyone is very flattering, but particularly so for me when you see who I'm up against! (The Head of the PRCA none the less!) - however here's the snag (and hopefully where you come in) - to win I need people to vote for me...

Of course this no opens the opportuntity for what could be a straight forward popularity contest, but as @MaxTB pointed out on Twitter today, it's hard to see from the post on @rep_online what exactly we have done beyond brands we have worked on or job titles to get shortlisted in the first place!?

So in response to a suggestion from Miss Vikki Chowney (@vikkichowney) I thought I would lay it out for you, so at least you can have an informed opinion.

I currently work at Euro RSCG Biss Lancaster, looking after brands such as Huggies (Kimberly Clark), The British Army, World Horse Welfare and RBS amongst others, in the role of "Digital Director" - an illusive job title at best, but basically means that my team and I try to help these brands create an engaged presence in social media.

I also am a trainer for the PRCA and the CIPR and you can find some of the presentations I have done for them here on the blog.

I've contributed bits to the industry in terms of sharing what I do and my experience here, if you can call sitting on the PR week sofa "contributing".

And of course I am also a blogger myself, which if you are reading this then you are clearly aware of that fact!

So which of these things mean I should win... well to be honest - none of them.

This is my day job, and making clients happy is a part of that, as is training my team and sharing that knowledge with others in the industry. And the blogging... well I just plain enjoy it. I don't do it for awards, but also can't say the recognition is welcomed either. I can't help but communicate (if you ask my wife she will confirm that...), it's what I do, it's what I always have done. Do I deserve an award for it? I suppose that's up to you...

If you feel compelled to vote for me - please text 'Ro 3' to 82100

Cheers.

James

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