Payvment Launches New “Social IQ” Technology to Turbo-Charge Facebook Commerce
Payvment, the number one Facebook ecommerce platform, today introduced Payvment Social IQ, a “Social Marketing Expert-in-a-Box” that guides sellers towards the optimal social media activities to boost sales and engagement in their Facebook stores. Based on analysis of over two years of data from thousands of successful sellers, Payvment Social IQ technology delivers a daily set of customized actions to help sellers who are new to social commerce drive rapid fan base growth, traffic, and sales.
This technology is embedded in a new release of Payvment’s Social Commerce Dashboard, which has an added set of tools to monitor key social commerce metrics and track the impact of new campaigns. Payvment’s Social IQ also makes it easy for sellers to try new social marketing tactics — such as running a Twitter promotion or offering a “Like” discount for fans — while being able to measure exactly how those actions improve product discovery and sales.
“We want to make it as easy as possible for smaller sellers and social media novices to market and sell products on Facebook,” said Christian Taylor, founder and CEO of Payvment. “For over two years, Payvment has analyzed the marketing activities of hundreds of thousands of sellers and seen how millions of shoppers discover, share and purchase products on our platform — we truly understand what works to drive engagement among our thousands of successful sellers. Our new Dashboard with Payvment Social IQ is a simple way for merchants to pull powerful social levers to build their business and drive sales.”
Payvment’s Social IQ allows any seller to turbo-charge social discovery of their products on Facebook without having to become an expert in social media. When a seller opens the Payvment Social Commerce Dashboard, they will now be greeted with a Social IQ “score”, which provides a quick benchmark of how effectively the seller is promoting their store and generating engagement relative to other Payvment sellers. They will also see suggested actions to boost their social marketing efforts, such as creating and posting a product poll, or running a seasonal promotion. The seller’s Social IQ score climbs in direct correlation to their growth in fans, reactions (Want, Like), conversations, and product sales that are driven by these actions.
Key features of Social IQ include:
– Things You Did: Tallies the deals, promotions and polls a seller has run in the past week
– Shopper Reactions: Shows how shoppers engaged based on the social actions
– Your Bottom Line: Tallies Fans, product views and revenue earned based on social activity, while showing whether those totals are trending up or down over time
– Social IQ Booster: Suggests simple ways to grow your Social IQ score and increase engagement and sales
– Social IQ Leaderboard: Shows the other sellers who are most active and socially engaged with shoppers and how they compare
A recent survey of Payvment sellers showed that growing Facebook Fan count is the most challenging aspect for sellers who are new to social commerce, with 72 percent of new sellers having a Fan count of 500 or less. Building on Payvment’s award-winning social commerce platform and the Shopping Mall on Facebook, Social IQ is the latest innovation from Payvment to help smaller sellers rapidly grow their Fan base and achieve success. For profiles of select Payvment sellers who have achieved success with Facebook commerce, please visit the “Seller Spotlight” section on Payvment.com.