Today GSI Commerce and 8thBridge announced a partnership to provide an integrated social commerce solution to their customer base of over 500 clients and an estimated one billion shoppers. This is a major industry milestone for social commerce and 8thBridge!
GSI Commerce processes over $4B in gross merchandise value and services hundreds of the world’s largest ecommerce operations including Aeropostale, Toys”R”Us, Bath & Body Works, Dick’s Sporting Goods, National Football League, Estee Lauder, Sports Authority, Levis, Ralph Lauren and many more. GSI will be reselling the 8thBridge Graphite social commerce platform to their clients.
We are pleased that GSI selected 8thBridge after a thorough analysis of the social commerce space. Reuben Hendell, Chief Strategy Officer for GSI, stated that they found 8thBridge to be “the only company to have cracked the social commerce code.”
The turnkey solution, available to GSI clients today, integrates 8thBridge Graphite with a number of GSI solutions. Those solutions include Webstore for ecommerce, eDialog for email marketing, Fetchback for retargeted advertising, and Clearsaleing for attribution analytics.
The integrated offering makes it very easy for GSI’s clients to create social shopping experiences on their websites and then monetize the social data produced with their existing marketing systems. To give just one example, a customer identified as highly influential by 8thBridge’s technology could be presented with rewards for referring friends on the ecommerce site, on Facebook, on publisher websites as well as email.
This is a long-term strategic partnership for both GSI and us at 8thBridge. We are in the process of evaluating broader future integrations including Magento to support ecommerce businesses of all sizes, PepperJam for social reward payment processing, and MBS for database marketing.
The social integrations we’ve completed so far with GSI and the future possibilities are important because this is the primary way brands will be able to monetize social media. Social is more than just a channel, it needs to be integrated with existing channels and systems in order to drive meaningful value.
8thBridge, Facebook, Pinterest, and other innovative companies have brought social commerce a long way since the initial hype bubble popped 12 months ago. Social commerce has migrated from social network websites to ecommerce sites and traversed from the top of the purchasing funnel to the bottom. Increased traffic, increased average order value, and conversion rate lifts are now the result of a great website social experience that incorporates social sharing, curation, crowd-sourced product discovery, social rewards, and the use of social data to grow customer relationships.
We are looking forward to working with the GSI team to enable social commerce for their clients. Over the coming months, a billion additional customers will be given the opportunity to shop with each other on their favorite ecommerce sites, discover new ideas from people with similar interests, get rewards for wielding their influence and receive far more relevant offers from brands.