Social Commerce solutions are a form of electronic commerce using social media to assist in the buying or selling of goods and services. This type of commerce utilizes user ratings, referrals, online communities and social advertising to facilitate online shopping. The solution provides an avenue for consumers to conduct transactions over social media applications as a value-chain extension for social commerce use-case where discovery of products through browsing posts on social media platforms. This streamlines the time taken for the payment process, saving time for the consumer, reducing the time taken for product discovery to payments from 15 minutes to less than a minute and allows firms to receive payment almost instantly. This improves customer satisfaction and improves reconciliation of online sellers and small businesses. Find out more at www.ey.com/sg/fintechhub . For enquiries, contact us via email at fintech@sg.ey.com.

1. Customer acquisition, engagement
and sales via social media
Case study
Context:
A regional bank’s client — an apparel brand
wanted to increase their level of customer
engagement by using an automated social
media marketing tool that could integrate
within social media channels.
Recommended configuration:
• The integration of marketing plugins and
inventory management platform, along with
the client’s existing social media platforms,
increased the frequency of customer
engagement through the use of the
embedded messenger chatbot because of
added convenience in the customer
purchase process.
• Additionally, the chatbot provided
automated customer assistance while
increasing the frequency of sales hit rates
through the various social media platforms.
Client impact:
• Converted 30% more customers from their
social media channels
• Improved customer-product marketing
management
• Quicker checkout and payment rates for
customers
Contact us
Varun Mittal
EY Global Emerging Markets FinTech
Leader
varun.mittal@sg.ey.com
Current sales cycle from post or advertisement
to website
Wait for payment verification
Purchase complete
Click post
Find product
Add to cart
Checkout
Enter address
Enter card details
Average time to
complete purchase:
15 minutes
Lengthy check-out processes
Low customer engagement
Slow purchasing cycle
Automated sales engagement and sales completion
Omni-channel
contextual sales
Sell products instantly through social media posts
and auto message, and walk customers through the
sale.
Customizations
and API
integrations
Integrate with customer’s current commerce,
loyalty, and other digital software and properties.
Key Opinion
Leader (KOL)
and influencer
Integrate products, and promotions with KOL’s and
influencer’s accounts.
Automatic push to checkout sales cycle
Comment on social media
Confirm on messenger app
Purchase complete
Entire sales cycle from social media
posts to sales in less than a minute
Other use cases
Sales and ticketing Pre-orders Q&A automation
Website: www.ey.com/sg/fintechhub
Email: fintech@sg.ey.com
Sahil Gupta
EY ASEAN FinTech Manager
sahil.gupta@sg.ey.com

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