Social commerce firm 8thBridge announced the results of its second annual Social Commerce IQ report, and Facebook favorite Fab.com had a pretty fab showing, finishing atop the SCIQ 25 list, which measures the social commerce strategies of retailers based on four key success factors.
The four factors used to compile the SCIQ 25 list are:
- Increasing brand awareness on social networks, including the facilitation of friend-to-friend sharing and deeper website integration with social networks.
- Increasing total upstream social traffic.
- Increasing website social lift, or site visits, conversions, and shopping basket sizes.
- Increasing social customer-relationship-management potential.
8thBridge also found that:
35 percent of companies had Facebook applications that were not functioning or out of date.
A survey of 1,819 U.S. residents found that 70 percent would rather hear about new products from Facebook friends than from brands; 57 percent have asked Facebook friends for advice before purchasing products; 63 percent share products via Facebook (compared with 25 percent on Twitter and 22 percent on Pinterest), and 54 percent said the total number of likes has no effect on the likelihood of them purchasing products.
8thBridge CEO Wade Gerten said:
In line with the expanding role of social commerce and the new skill sets required by companies to fully monetize its benefits, this year’s SCIQ Top 25 reflect both traditional and nontraditional companies. Three types of companies have emerged as leaders in this year’s report. The first is ecommerce companies that have deeply integrated social functionality into their sites. The second is “in-transition” companies that do well in all social commerce areas. And the third is strong viral companies that score exceptionally well in social network branding and referral traffic.
The SCIQ Top 25 follows:
- Deb Shops
- Nasty Gal
- NBA Store
- American Eagle Outfitters
- AMI Clubwear
- Barneys New York
- Charlotte Russe
- Forever 21
- One Kings Lane