Social commerce spotlight: Facebook drives more commerce conversions and Pinterest is where the money’s at, but even AOL has a role to play
In terms of social commerce, Facebook delivers much higher conversion rates than Pinterest or Twitter, but average order values are highest for Pinterest users, according to Monetate’s latest Ecommerce Quarterly report.
The conversion rate from Facebook referrals is 1.08% ahead of those of Pinterest (0.36%) and Twitter (0.22%) – but interestingly, still considerably behind non-social referrers such as search engines (namely AOL!).
However, when it comes to the average order value from social conversions, Pinterest, as you can see below, is in poll position with $80.54, compared to Facebook’s $71.26 and Twitter’s $70.17.
The report also provides interesting insight into social’s role in the commerce game overall. As the below graphs indicate, “brands are failing miserably at leveraging social media as a channel to create direct response”, the report says.
And we shouldn’t be surprised, either. “The story here validates that most brands are doing nothing more than benchmarking their social media efforts against direct response channels instead of trying to build a more powerful brand narrative.”
The reports co-author Jay Baer says that he sees many companies running their email campaigns on autopilot, and this is a “huge missed opportunity because email is responsible for generating twice as much direct traffic as social media, and fully four times the conversion rate.
“Forrester Research says that U.S. companies are spending significantly more dollars on email. And way more money is being spent on search than on email. Maybe that’s misaligned, and companies should be paying more attention to email, since it has the second highest conversion rate (3.19%) of any channel in this EQ report, behind only—somewhat remarkably—AOL Search. I believe that companies need to be spending more time on it.”