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Friday, June 14, 2013

New Social Tools for E-commerce From Sociaby Aim to Reduce Shopping Cart Abandonment and Grow Social Media Presence

In efforts to reduce shopping cart abandonment and support a brand’s growth on social media, New York based startup Sociaby launched their social tools for E-commerce, for both enterprise clients and small business owners alike.

New York, NY  June 14, 2013
Recognizing the rise of social media influence on e-commerce, Sociaby was founded last year by a small group of online marketing experts and tech geeks in New York City. The creation of Sociaby not only addresses the problems of shopping cart abandonment but also helps businesses get more Twitter followers and social buzz. It works by placing a non-intrusive and highly configurable sharing widget within the checkout. The customer is prompted to share their soon-to be purchase and is rewarded with a configurable offer via a coupon code. Sociaby closes the loop by tracking the ROI from the links posted on social networks.
For E-commerce retailers, the ability to access their customers’ networks on social media creates a dramatically higher likelihood that one of the purchasers’ connections will also make a purchase, says research from CMB and iModerate Research Technologies. The research shows that social users are over 50 percent more likely to purchase and share a product with their network once a fan or follower.
In order to address pricing practices that treat all users as equals, Sociaby can adjust the offers given to users based on their social influence. According to their website,
“We assign each user an anonymous ID (sorry, no names here) and keep tabs on how often their friends click on those links. As we approach critical mass, we begin learning who really has responsive friends… and we feed those people better offers”.
Ammon Brown, CEO and Founder of Sociaby, also claims that the platform can reduce wasted affiliate commission.
“A lot of retailers don’t realize that the mere presence of a coupon code field in their checkout is an invitation for users to go searching for a coupon code. If they return to complete the purchase, and many don’t, then they return with a discount code and an affiliate cookie. The commissions paid to affiliates from these types of already-won sales are a largely hidden and unnecessary cost of running an affiliate program. By keeping users in the checkout flow and away from coupon sites, Sociaby reduces coupon code hunting,” says Brown.
According to Brown, the feedback on the platform has been positive so far. “Retailers are seeing a lift in social traffic and a reduction in affiliate fees, which has helped validate our model at this early stage,” he said. Whether it works or not is up to the retailers. Sociaby is offering a free one-month trial of their platform with one little catch: You need to first share or tweet about them, using their own platform, of course.
Sociaby is a New York Based Platform that specializes in Social Tools for E-commerce. Sociaby helps solves online retailers issues by helping them get more Twitter followers, reducing shopping cart abandonment, increasing social media traffic and saving wasted affiliate commissions. Packages and pricing are available to small online retailers and enterprise sized clients alike. For more information and for a free trial account visit