Which Ecommerce Brands are Best at Turning Social into Sales?
Everyone knows that some companies just do social media better than others. How they do it; getting entire companies on-board, selling it to upper-management, legal teams who are focused on mitigating risk rather than opening the brand up to social channels, and then the nature of the product/service, all play a factor in how successful companies are at turning social media initiatives into actual sales.
So which companies are best at turning 'likes', 'tweets' and other social media activities into actual sales? Well according to The Echo Rank Index, which is a new social data initiative launched Wednesday at the Internet Retailer Conference & Expo in Chicago, mass merchant Amazon.com currently sits atop it's index, which ranks the Internet Retailers Top 500 companies. Companies are ranked as a whole as well as broken down into 15 sub-categories ranging from mass merchants, computers/electronics, flowers/gifts, hardware/home improvement, apparel/accessories and more. There are 3 main criteria in which each company is given a score from 1-100 on. They include:
- User Engagement: A brands user engagement score measures how well a brand is utilizing it's voice on Facebook, Twitter, YouTube and other social channels to engage and grow it's community of users.
- Social Integration: The social integration score is an indicator or how well a brand integrates social into its website and promotes commerce via social channels.
- Site Performance: Website sales still outpace commerce on the social canvas at a rate of 150 to 1. A brands site performance score measures how well its website performs at turning traffic into sales and bottom-line revenue.
Here you can see the initial Echo Rank profile for Amazon:
"To get a serious return on social, companies have to do much more than just collect Facebook friends and Twitter followers," notes Lance Neuhauser, CEO of The Echo System. "They have to actively engage the power of the data that drives social networks and use it to convert social engagement into sales." This is, in all practicality, harder to do than Neuhauser makes it sound, but it's generally the sentiment of those familiar with social media and it's evolution from a neat distraction to a full-blown commerce, networking, customer service, sales, marketing and PR channel like nothing we have ever seen before.
You can see the full index by clicking here: echorank.theechosystem.com