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Social commerce is one of the internet buying trends with the quickest growth. Even though social commerce falls within the eCommerce category, you’ll find throughout the guide that it stands very much on its own.
We’ll address significant issues in this article, including what social commerce is, its advantages, the platforms that allow it, and more. We’ll also cover social commerce trends, essential strategies and approaches, and some real-world case studies of firms that successfully used social commerce. Let’s start now!
What Is Social Commerce?
Social commerce is an online selling approach that takes place on social media platforms such as Facebook, Instagram, or other platforms that have a social aspect. Social commerce customers can finish their purchases directly on the social media platform rather than being sent off-platform to the retailer’s internet site. This implies that the entire purchase process—from browsing to checking out—takes place on social media, completely cutting out the eCommerce website.
Benefits of Social Commerce
Not sure if social commerce is a good fit for your online store? To help you determine whether you want to give social commerce a try, here are just a few of its benefits.
- Increased traffic and audience engagement – Since people can simply and rapidly connect with your business through social commerce, it may also help you enhance traffic and engagement. This is crucial because as your brand gains exposure to more and more prospective customers, you’ll increase sales and profit (assuming that your conversion rate stays the same). However, it makes it much simpler for customers to share your material with others who might be considering a purchase.
- Expand Your Market – Social media sites have huge user counts, especially those that provide social commerce possibilities. This increases the chances that your target market is on the site and is eagerly looking for your goods or services. Utilizing social commerce choices increases the probability that those customers will complete a transaction by lowering friction and facilitating an easy purchasing procedure.
- Establish Trust with Audience – Customers are more inclined to trust your brand if they can simply contact your business. However, compared to an eCommerce site, social media is often far more intimate, providing visitors the ability to truly get to know your brand’s personality and your passions. Due to the fact that consumers like to buy from companies, they are acquainted with and at ease with, social commerce can actually enhance sales by fostering more brand trust and familiarity.
- Track Your ROI and Increase It – Social commerce has the potential to provide a high rate of return. Monitoring your social media data is crucial if you want to get the most out of your social commerce strategy. You can analyze your social commerce initiatives and make the required modifications to gain better results thanks to the fact that the majority of the larger social media platforms come with built-in analytics tools.
On which platforms is social commerce supported?
What online communities does your target audience frequent? It’s likely that at least one of these sites has social commerce features, where you may discover your target audience.
- Facebook – Through Messenger, WhatsApp, or Instagram Direct, you may communicate with current and future clients using Facebook Shops. A free social commerce store may be created by eCommerce business owners using this mobile-first purchasing experience. Facebook Shops allow business owners to establish or import a product catalog, and they are completely customizable.
- TikTok – TikTok is one of the newest social media sites available, but it has swiftly developed into a marketing force for influencers. TikTok launched Seller University in February 2021. (testing in Indonesia). The website aims to increase the number of ways people may earn money from the website by selling their own items there (instead of sharing links that take users off the platform to complete purchases, as is the current method). For influencers that concentrate on affiliate marketing to make money, there will also be an opportunity to sell as an affiliate.
- Snapchat – Snapchat leverages augmented reality (AR) to allow users to virtually “try on” clothes and shoes and view how certain things may appear in their homes. Snapchat has an advantage in this area thanks to its creative use of augmented reality, even if Instagram includes a try-on tool for cosmetics and eyewear.
- Twitter – For years, Twitter has offered shopping solutions. Social selling on the platform has seen changes throughout time. The most recent version, Twitter Offers, enables marketers to create specials and share them with Twitter users, as well as to enable in-app product shopping.
- Own Website or App with Social Commerce features – Every eCommerce business has its own website and app. Fact is more ratio of businesses are managing to have a higher number of visitors to their website and app.
But they are lacking to convert them into a sale. Including social commerce features such as Video stream, Live chatting, personal chat, shorten check out and much more can help you to better engage with the visitor and render a highly engaging shopping experience for them.
Nutshell – The fusion of social media and e-commerce is about to bring in a time of tremendous transformation. The potential influence of social commerce networks in this context is yet very much open to being felt and utilized. eCommerce and social media are about to start a mutually beneficial cycle of improvement.
So if you are an eCommerce business and looking for a new digital selling approach that prioritizes audience engagement and fosters trust in a way that traditional online retail simply can’t match, Live stream shopping is the solution.
If you are ready to incorporate Social Commerce features into your e-commerce strategy? Get in touch with an experienced Social Commerce solution developer at Technocrats Horizons.