It’s exciting to think about how easy and fast it can be to begin selling on Twitter or Facebook. Selecting one of the “plug and play” ways to sell, such as Twitter Buy Button, it’s easy to feel set up for success. But because no two businesses are the same, it’s important to know the channel’s emerging best practices for conducting transactions using social.
Consider the following as you search for the right selling platform for your business.
Keep them in Social – Keeping the transaction in the news feed or stream (called “in-stream) will increase the likelihood of the shopper completing the sale. Data tells us shopper interest can dissipate if there are too many clicks or they are taken to an unfamiliar site to learn more and buy. Even being asked to log in and open email to complete a transaction can be too laborious.
Encourage Sharing – Products sell more quickly when more people see them, which is why you need to make sure each sale is seen by the friends and followers of your purchaser. If you take the shopper to a different site to checkout, the sale won’t be seen by others. Now that sale isn’t very social, now, is it?
Make Fulfillment your Choice – You have the freedom to use your favorite fulfillment partner and say no to others that are dictated to you. Make sure any new terms are right for your business. Be picky, it’s your business after all.
Keep Administration Low – You are in charge of your costs and accounts. While your sales partner might try and impose their preferences on your business, you can always pass. For example, with Twitter Buy Button, you won’t be able to use your current merchant account. Make sure you’re willing to accept the administration and costs of any new set up.
Pay your Fair Share, But Not More – Providing a piece of the pie to your sales partner is part of the cost of doing business. But what is the appropriate amount? Do some research and compare. Be sure to understand all the fees and how they impact your revenue as you grow.
Make Security a Priority – As we’ve seen with Target, Home Depot and countless other security breeches over the years, big brands don’t always equal consumer privacy and protection. Consider how safe it is for your customer to use and save their credit during their checkout. If you have concerns, they will too.
Provide Crystal Clear Billing – Transaction transparency is critical for online shoppers. So the first thing to do is make sure they will see your name on their billing statement. Seeing a processor’s name for example, can create confusion and they may even flag it as a fraudulent charge. Now that’s not the kind of impression any retailer wants to make.
As with adopting any new sales channel, the focus should be on pursuing new revenue while providing customers the enjoyable shopping experience that will drive future, regular transactions.