Based on behavioral data from thousands of successful sellers, Social IQ monitors key social commerce metrics and guides sellers towards the optimal social marketing activities to drive discovery, engagement, and sales, according to Payvment, a Facebook ecommerce platform.
It has 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. The solution was announced Monday, Feb. 27.
Meanwhile, the National Inflation Association (NIA) has announced that it believes Facebook will likely start trading this May at a peak valuation of $100 billion and see its market capitalization and share price decrease in value in the years afterwards. (Read: Facebook Going Public at Peak Valuation: NIA)
“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.
Based on analysis of over two years of data from 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, says the company.
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.
According to the company, its 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 how those actions improve product discovery and sales.
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
Payvment, Inc. is a venture-backed startup that has created the Facebook ecommerce platform.