One of the reasons Internet retailers have been hesitant to invest more heavily in social media is that it has been difficult if not impossible to determine the actual return on investment from participation. Merchants essentially have no idea how social "shares" equate to the dollars they spend and earn.
That, of course, hasn’t stopped merchants from loading up their Web properties with social media icons, taking a “something is better than nothing” approach. But if a solution came along that supported attributed product shares to revenue, merchants would use it, right? I believe they would.
Social commerce analytics promises to be a white-hot market in the very near future. One of the trailblazers in the field is AddShoppers. The service enables Internet retailers to measure their total social reach by showing what individual products are receiving the most views, shares, clicks and sales revenue. The platform also provides the ability to identify influencers - those that share content most often and those that have the most clout.
"Our goal is to simply give retailers valuable and insightful social commerce data for free," says AddShoppers founder Jon West. "Everything is built from the ground up with e-commerce in mind -- granular data on all the right levels. With us the value of a Facebook share or a tweet is no longer ambiguous and that's just the beginning."
AddShoppers is currently in private beta but early/preview invitations can be requested.