Ecommerce hosting platform Miva Merchant announced this week that it has partnered with social commerce platform Social Rebate. The partnership gives Miva Merchant clients access to a plug-in that rewards customers with instant cash rebates for sharing their purchases on social media.
Social sharing impacts around half of transactions online, according to a recent report by Social Media Today, and 71 percent of consumers are more likely to make a purchase based on social media referrals. With these statistics to back it up, the partnership with Social Rebate could help Miva Merchant clients grow their respective customer bases.
According to a statement, Social Rebate has been able to track a 30 percent conversion rate for businesses that use its earned media plugin, which is proprietary.
Social Rebate works with popular social platforms like Facebook, Twitter, Google+, Pinterest and LinkedIn. When customers check out, they are given the option to earn a pre-determined percentage back from their current purchase when they share. If their friends click on the link, they can earn more. The money is deposited in their PayPal account.
“We chose to partner with Social Rebate because they seamlessly integrate into our platform and can provide our clients with a revolutionary way to promote their brands on all the popular social networks,” Rick Wilson, President of Miva Merchant said. “Social Rebate enables our clients by facilitating the best kind of marketing: personal recommendations from buying customers, at the critical point of purchase.”
Other ecommerce platforms that Social Rebate is integrated in include Shopify, 3dcart, Magento, Bigcommerce, and Etsy.
Stores can set a minimum purchase amount and add tag restrictions to prevent certain customers, like whoesalers or previous rebate claimers, from sharing.
“We are excited about the partnership and look forward to working with Miva Merchant to provide their platform clients and certified developers with turn-key solutions to a new social marketing channel that will increase sales and monetize social marketing with best-of-the-breed technologies,” said Dan Raisovich, Chief Revenue Officer of Social Rebate.
Miva Merchant said it will introduce more features as its partnership with Social Rebate evolves.
Elsewhere in ecommerce this week, Yahoo relaunched its ecommerce platform for small businesses, called Yahoo Stores.