Guest Post: Peter Reiser: The Power of Social Recommendations

 We're joined today with a guest post from a member of our international team of WebCenter Evangelists, Peter Reiser. Peter has a long history starting with Sun Microystems (Switzerland) in 1989 and has recently joined a team of WebCenter Evangelists around the globe that we hope to be hearing from on a regular basis. Peter's blog can be found here: https://blogs.oracle.com/peterreiser/


The Power of Social Recommendations

There are many ways you can improve the Return on Investment (RoI) of your web properties

Traditionally, you acquire new customers by buying Google keywords or by advertising your web offerings on social sites like Facebook

When these new users find their way to your site, you can engage them using clever targeting/personalization technologies to tailor your content to the target audience. 

(I  recently took a training on  WebCenter Sites (formerly FatWire) and was pretty impressed about their  intelligent real time targeting engine.)

This will likely improve your Conversation Rate (CVR)  and Revenue

Ok - these  are key elements  of a typical  Ecommerce strategy and pretty well known best practices. 

But how can we leverage  REAL social engagements ?

Implicit Social Recommendations 

When did we start trusting strangers?

(Source: Tomuniversal)


Implicit Social Recommendations are based on feedback from strangers provided through various social  channel and sites. 

 As example, a site has a product review section and the reviews, ratings and feedback  of "strangers" is influencing the buying behavior.

Implicit Social

(Source: Tomuniversal)

 The level of influence is directly  related to how much the user  trust the feedback/recommendations from strangers. 

Explicit Social Recommendations 

 Explicit Social Recommendations are from the strong tie connections of  a user's social network - friends/people you know and trust.

 As example, a user is looking for a nice Golf Hotel and a friend recommends a hotel via a social network. Its pretty likely that the user is checking out the hotel.

Golf


(Source: Tomuniversal)

 If the friend has already stayed there and recommends the hotel because he liked it, there is a very high probability that the user is booking the hotel.

Social Engagement Strategy  

Wow - if you can leverage the Power of Social Recommendations,  your Conversation Rate (CVR)  and Revenue will likely grow fast!

So - what should be the key elements of your successful Social Engagement strategy? 

  1. Build Trust trough Transparency
  2. Be part of the Conversation by actively building vibrant communities 
  3. Engage the "trusted" strangers  in the public social networks like Twitter, Facebook, LinkedIn etc. (and maybe you should consider social sites like  Quora as well)
  4. Think carefully how to  build  your "Explicit Social Recommendations" strategy. Do you really want to invest to drive YOUR audience trough public social networks  or do you want to have YOUR audience on your own social network  which is seamless integrated with your web properties and business applications  .. and you have access to the entire Social Graph of your network!    (Hello Oracle Social Network :) )

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Oracle WebCenter is the center of engagement for business—powering exceptional experiences for customers, partners, and employees. It connects people, process, and information with the most complete portfolio of portal, Web experience management, content, imaging and collaboration technologies.

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