News Update – Best of the Day
LuxuryDaily reports today that a 2010 Booz&Co. survey finds 27% of respondents would be willing to buy physical goods through social networking sites. The post advices luxury brands to start finding ways to turn “likes” into “buys” as social media is evolving as a direct commerce channel.
“Social media is likely to have its broadest and most measurable impact in the lead generation, conversion, and loyalty/service elements of a purchase transaction, not as a brand building or awareness activity. (….) Luxury brands often benefit from the social aspect of shopping – sharing shopping experiences, seeing what others have purchased and et cetera.” Fabian Seelbach, Senior Associate, Booz&Co.
China is obviously “not zuckerberged”. Qzone is the main social networking site by Chinese Internet giant Tencent (over 600 million QQ instant-messaging users). QQ accounts are a similar login hub like Google. With one account users can access Qzone and many other services the company offers (ecommerce, email, games, music, etc.). The most popular and expanding micro-blogging service seems to be Sina (Twitter is blocked in China). The saturation point for social networking in the top five EU countries is expected to come 2015.
Some people worry about Big Broter visions when talking about Social Media. The Pentagon created a robotic Hummingbird which can spy out gently, elegant and intelligent in a more traditional way…