In today’s addition of Business News Daily, Spokeable is front and center. No, our name is not plastered on the front page headlines (at least not yet) but the crux of our product and business model is the theme of this morning’s top story. Our product, Spokeable, is an intelligently designed platform that capitalizes on a phenomenon which is only proving more and more important: social commerce. Social context is becoming the most important factor in purchasing decisions. This is especially true of younger populations who are just now coming into their purchasing power. A recent survey of millennials found that over 85% of spending habits are decided based on peers. These days everything is social. Everything needs familiar context.
The article, reported by BusinessNewsDaily managing editor, Jeanette Mulvey, interviews social commerce expert Scott Lachut. Lachut is the director of research and strategy at PSFK Labs, a trends-led business innovation consultancy. The article outlines what we know: social commerce is not just an idea, it’s an undeniable fact to today’s purchases. Retailers of all sizes have to capitalize on social context or they’ll be left by the wayside of the 20th century.
Lachut explains that engaging with customers in a social commerce capacity is not only about the “commerce,” i.e. sale. Instead, people engage with companies for a variety of reasons. “Some are aspirational fans, who want content and experiences that they can share with their networks. Others may have issues and are turning to these platforms as a way to connect with a real human being who can answer their questions.” He concludes that people are looking for a combination of relevancy and utility and that brands/stores need to cater to that in order to insure conversions farther down the road.
In this interview Lachut speaks directly to what we’ve set out to achieve with Spokeable. We successfully create engaging and relevant conversations between local customers and local businesses. The channels that currently exist do not make this feat easily. Why? Because they weren’t created with this in mind. They are lifestyle sharing apps and curated news feeds. They connect friends with friends and were never intended to link customers and businesses. Which is why we made Spokeable. To serve a need. And this need, it seems, is growing and growing.