Social Shopping Unveiled: A Deep Dive into Conversion Rates

in #waivio8 months ago

Today, I'd like to share the results of my recent experiment aimed at analyzing the efficiency of social shopping sites in generating affiliate sales via Amazon, centered around a popular product: the French Press Coffee Maker.

The strategy was straightforward: direct traffic towards a select list of 20 French Press Coffee Makers with Amazon links and detailed descriptions, then track and analyze the conversion rates.

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This exploration was divided into two distinct phases to gain insights into consumer behavior under different shopping conditions. The first phase coincided with the bustling holiday season, and the second unfolded during a regular shopping interval.

Holiday Shopping Phase

(November 20 - December 20, 2023)

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Traffic and Engagement: Out of 1,100 visitors, 189 clicked through to Amazon, showcasing a 17% click-through rate (CTR).

Conversion to Purchase: These clicks translated into 32 purchases, equating to an impressive 17% conversion rate from clicks to sales.

Overall Conversion: The overall visitor-to-purchase conversion rate stood at 3%, a notable achievement.

Regular Shopping Phase

(February 1-29, 2024)

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Traffic and Engagement: From 506 visitors, 72 clicked through, achieving a 14% CTR.

Conversion to Purchase: This engagement resulted in 10 purchases, maintaining a 14% conversion rate from clicks to sales.

Overall Conversion: Here, the conversion rate slightly decreased to 2%.

Financial Performance and Benchmarking

The overall visitor-to-sales conversion rates were impressive: 3% and 2% for the respective phases.

Earnings: The experiments generated commissions of $35.20 and $15.04, respectively, from products priced around $30, within Amazon's 3%-4% commission range for this category.

Crucial to this analysis was the evaluation of performance through RPM (Revenues Per Mille) and EPVM (Earnings Per Visitor Mille), which demonstrated decent efficiency:

During the holiday season, the rates were $14.67 RPM and $32 EPVM.

During the regular shopping period, the figures were $8.85 RPM and $29.72 EPVM.

These results exceed industry benchmarks and highlight the effectiveness of social shopping sites in monetizing targeted audiences.

Expanding Beyond the Experiment

This experiment focused on a single item. However, the true value of social shopping is revealed in curating collections of products that can be purchased together, thus significantly improving revenue per visitor.

For example, a camping site can offer a collection of 200 essentials for outdoor family trips. An interior design site might curate a collection to inspire a seasonal refresh, featuring matching pillows, candles, and covers. Beauty sites can propose comprehensive skincare routines requiring a suite of products, while fashion shops can assemble outfits for a specific style.

Moreover, revenue opportunities extend beyond direct affiliate sales. Website owners can benefit from commissions on user-generated posts, sponsored rewards claimed by users, AdSense advertising, and even by managing rewards programs for brands.

In essence, if you're an influencer or aspiring to become one, leveraging a social shopping site can serve as an exceptionally effective platform for showcasing curated shopping collections to your friends and followers, blending community engagement with commercial opportunity seamlessly.

#socialshopping #socialgifts #affiliatemarketing #amazon #shopping