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Fri, Dec 16 2011 16:43:19

Activating Your Socially Connected Business

During this webinar @OMLee and @johnlovett caused a minor flurry citing the IBM/comScore social sales data from Cyber Monday. The findings revealed $7 million dollars captured was directly attributable to social media. That's 0.56% of all Cyber Monday digital sales...

  1. johnlovett
    On Cyber Monday, $7M was influenced by Social Media #IBMSocial
    John Lovett
    Thu, Dec 15 2011 14:10:41
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  2. caseycarey
    “@johnlovett: On Cyber Monday, $7M was influenced by Social Media #IBMSocial” That's all? A rounding error.
    Casey Carey
    Thu, Dec 15 2011 14:56:03
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  3. OMLee
    @caseycarey $7m *directly* attributed. @johnlovett #IBMSocial
    Lee Isensee
    Thu, Dec 15 2011 15:02:58
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  4. deanshaw
    @johnlovett So if my math is correct Social Media "influenced" .56% of Cyber Monday sales #WhoopDeeFrigginDo
    deanshaw
    Thu, Dec 15 2011 15:28:37
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  5. danbarker
    @VineshC @johnlovett & that's such a tiny relative number anyway. #IBMSocial
    dan barker
    Thu, Dec 15 2011 17:16:16
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  6. OMLee
    @VineshC the number was based upon IBM Benchmark % of sales from social divided by comScore's $1.25B in revenue @johnlovett #IBMSocial
    Lee Isensee
    Thu, Dec 15 2011 17:25:31
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  7. minethatdata
    1/4 There's some buzz today about a study that suggests that $7 million of $1.3 billion on Cyber Monday was caused by Social Media.
    Kevin Hillstrom
    Thu, Dec 15 2011 20:48:42
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  8. minethatdata
    2/4 Let's assume that $7 million is a reasonable/accurate. For an average e-commerce business, Cyber Monday is maybe 1% of annual sales.
    Kevin Hillstrom
    Thu, Dec 15 2011 20:50:53
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  9. minethatdata
    3/4 Let's assume you work for a $50,000,000 business. If so, Cyber Monday is $500,000, and then, Social Media caused about $3,000.
    Kevin Hillstrom
    Thu, Dec 15 2011 20:51:54
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  10. minethatdata
    4/4 At a $100 AOV, it's 30 orders, a little over 1 per hour for a $50mil business from SM. $7mil is big, true. 1 order/hour, ho hum.
    Kevin Hillstrom
    Thu, Dec 15 2011 20:54:24
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  11. johnlovett
    @deanshaw Agreed 0.56% isn't a big deal for social spend today, but online just hit $1b+ and it was 1/2% not too long ago. #SocialAnalytics
    John Lovett
    Thu, Dec 15 2011 20:59:02
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  12. deanshaw
    @johnlovett Agreed. But if I told a retailer I had a strategy for increasing sales by .56% I'd be laughed out of the meeting.
    deanshaw
    Thu, Dec 15 2011 21:01:32
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  13. johnlovett
    @deanshaw Well therein lies the hole in your strategy my friend...social ain't all about the money. #SocialAnalytics
    John Lovett
    Thu, Dec 15 2011 21:16:23
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