Social Annex creates “Social software” that plugs into eCommerce sites and helps monetize Social Media as an online marketing channel for them.
eCommerce (excluding travel) is a 150 Billion dollar market projected to grow at 10% each year to 220 Billion by 2015. 20% of this (30 Billion) is spent on online marketing primarily on paid search, SEO, email marketing and affiliate marketing to drive traffic and sales for eCommerce. All of these online marketing tactics are extremely competitive.
At the same time, the influence of Facebook and Twitter is growing rapidly and eCommerce sites are rushing to figure out how they can use Social Media as an effective customer/sales acquisition channel. Social Annex provides a social software platform that allows them to monetize and track this effectively.
Social Annex widgets plug right into eCommerce sites with 1 line of code and allow them to recognize their influential visitors and make these influential visitors market to their friends/followers on behalf of the site to drive quality referral traffic back to the site.
- Recognized the market need by working with eCommerce sites on a consulting basis and then created a product out of it
- Knowledge of the industry helped in shaping the product and technology
- How big is the market for Social Annex
- How are we planning to solve a problem that no one else has yet