It doesn’t come as a surprise that retailers have banked on social commerce, especially as more and more people now consider online buying as a part of their everyday lives.
It doesn’t come as a surprise that retailers have banked on social commerce, especially as more and more people now consider online buying as a part of their everyday lives. Revionics, a company that specialises in promotions, markdowns and price optimisation, feels their unique service can take advantage of the trend and help boost online commerce.
In November 2012, Revionics acquired SkuLoop, a firm that circulates online promotions for retailers. The company also provides bespoke contests, flash sales, personalised offers, group buys and many other services intended for online promotions. Partners can use digital assets such as email, mobile and social media to generate content that boosts purchases and in-store traffic.
The company looks at everything from a client’s perspective and how interconnected they are. Moreover, this network effect is constantly felt by consumers as they use social media, said Michelle Crames, VP of Social Commerce at Revionics and Founder of SkuLoop.
The most notable feature of SkuLoop is how it keeps track of data. For example, internet retailers can monitor conversion easily via page-views and clicks.
However, Crames wants to further improve this feature. She explained that typical brick-and-mortar stores lack precise conversion numbers due to a lack of data, and SkuLoop can change this. For example, SkuLoop sends coupon offers to clients and monitors how successful they are, as well as the device used by the consumers to view the offers. Interestingly, it also tracks if the offer was shared and how many people took advantage of it.
SkuLoop and Revionics even reward clients who tell their social circle about the great deals they got, added Crames.