Wow. The US-based 8thBridge just released an absolutely enormous 111-page report on social commerce, which we're going to spend a lot of time devouring. But the headline findings are already very interesting:
70% of respondents would rather hear about a new product from a Facebook friend, than from a brand
57% have asked their friends on Facebook for advice before purchasing a product
64% said that more Facebook “likes” on a product do not increase the likelihood that they will buy that product
35% of companies researched had apps on Facebook that were not functioning and/or were out of date
Growth areas include website social apps, Facebook custom open graph integration and social logins
The most social companies are 17 times more likely to incorporate social functionality into their websites
Rewards are critical to encourage sharing and customer referrals
The past was about driving brand awareness. The future is about driving commerce.
Here's some of those findings in a nice, print-out-and-keep infographic. And stay tuned - we'll be deep diving into this behemouth of a report over the coming weeks.