Social Commerce

Video: TED Qualman – The Future of Social Media is Social Commerce

Erik Qualman, author of the social media bestseller “Socialnomics: How Social Media Transforms the Way we Live and Do Business” spoke at the recent TEDx conference at Lansing, Michigan on the future of social media.  The future, according to Qualman, is social commerce.

The 17 minute video is below, but in a nutshell Qualman’s vision of the future of social media is itself a specific vision of social commerce; where social media becomes a (social) shopping tool, in which shoppers tap their social graph for information, advice and feedback on purchases from their trusted social circle in order to make better buying decisions (friendsourcing/friendcasting).  No mention (yet) of social media tools such as social media stores, group-buy, referral programs, ratings and reviews etc. But it includes an updated version of his popular  “Social Media Revolution” YouTube video (also below).

Qualman’s entrance into the social commerce field will be a breath of fresh air – as he has firm views on social media ROI, and has hitherto seen social media primarily in terms of a communications channel for customer service.  Qualman argues that the idea of social media ROI is nonsense – in the same way that the ROI of paper – or any other communication medium, such as mobile telephony is nonsense (of course that leaves open the possibility of calculating ROI on social media marketing campaigns).  It’ll be interesting to see how his view evolves now that social commerce is the new Qualmanian black.

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Chartered psychologist specialising in consumer behaviour, wellbeing and technology. Certified CX professional experienced in Design Thinking. A researcher, writer and speaker, Paul is head of Digital Insight at SYZYGY.

5 Comments Add New Comment

  1. Thanks for posting the video. I am a huge supporter of social commerce. In my book I call this socilommerce, but subsequently yhe term social commerce has become defacto and rightfully so! A much easier to grasp term. Can’t wait for social commerce to become part of every CEOs lexicon in the years ahead.

    Best,

    @equalman

  2. Informative video. Social Commerce is the evolution of ecommerce. You said it quite eloquently yourself: “shoppers tap their social graph for information, advice and feedback on purchases from their trusted social circle in order to make better buying decisions”

    1. Thanks for the comment Randall, nicely put – it makes sense to see social commerce as the evolution of e-commerce – rather than something new and distinct. Think we’ll see the increasing use of social media in e-commerce.

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