In the field of marketing and technology, you often know that something is still new; e-commerce was one of those underdeveloped terms. And today, launching an e-commerce store has purely become a walk in the park even for those who are lacking in technical know-how- all thanks to turnkey solutions better known as social commerce.
Launching one is easy, but did I mention running one in a hotly contested digital marketplace can be insanely tricky? And that’s the reason why businesses are going all the guns to employ ‘topnotch’ marketing strategies and offering the best customer experiences like never before. After all, this is the only way through which they can dominate their competitors. But the question is “HOW” to get more value for every single coin plowed into their business? Fret not; social commerce is to the rescue!
There is no denying in the fact that the e-commerce industry has turned into a competitive space where young generation, especially the millennials, is seen leading the trend with strong purchase power. Apart from this, more and more consumers are seen using social media platforms to discover new brands, engage with those they already are acquainted with. This also means with the right tools, and by preparing the right marketing strategy, you can do a lot of things to gain an edge over your competitors. Now using social media to raise awareness and direct browsers to an online store is one thing whereas converting those window shoppers into brand advocates is an entirely different story. Turning social media’ likes’ into measurable sales is what social commerce is all about.
Introduction To Social Commerce:
Technically speaking, it is a form of electronic commerce that involves online media, social media, and user contributions on such platforms that fosters online selling, buying, and a host of other services. For many of you, the term might be a relatively new concept, but in actual terms, it has been introduced way back in 2005 by Yahoo! And as of now, selling your products through a third-party platform has become a cakewalk. For instance, if a Facebook user sees something they want to buy, it can be done easily with the help of Facebook’s interface as opposed to having to navigate to the seller’s website. I mean relying too heavily on consumers to visit your website after seeing an ad that promotes your products can hurt your conversion rates.
Further below, I would like to shed some light on how one can use social commerce networks to boost their sales. Pinterest, Facebook, and Instagram are some of the platforms commonly used by small businesses. That doesn’t mean there aren’t any other, but the bulk of marketing magic happens on these platforms.
Instead of calling it a social media platform, I would name it another popular visual search engine where several other platforms are being discovered a day in day out. According to Millward Brown study, about 87% of pinners have made a certain purchase as a result of Pinterest. And around 93% of pinners are making the most of the platform to either make or plan a purchase.
This is one of the top reasons why Pinterest is becoming a heartthrob for end users as well as the e-commerce store owners. If we see from the business perspective, we can position ads or content in front of potential customers. By doing this, you can easily influence their purchase decision. All you require doing is coming out with targeted and engaging pins that offer value to your audience. From rich to promoted, buyable, cinematic pins; you will find a plethora of options around while targeting your traffic. And each one is of a kind, for example, buyable pins can be used to reduce the number of clicks required to make a purchase. I am sure this will work wonders for lazy or busy buyers. Just make sure that you align your ads or content with the exact information that pinners are looking for. Also, don’t forget to check your metrics to monitor how your campaign is fairing.
The biggest and best social media platform is known across the globe. According to the source, Facebook accounts for 64% of the total social commerce platform. Also, considering the audience size and revenue generation, nothing beats Facebook.
One of the core strengths of the platform is that it has its own way of retaining users by showing them real value and at times, personal information in their job feeds. Comprising of a sophisticated algorithm, the platform allows us to prioritize any post; anyone which you think can create a buzz or positive reaction on an individual. This is how it keeps users glued to the platform a while longer. Being an advertiser or marketer, just make sure that your ads or posts which you create are not only compelling but also relevant enough in the eyes of your audience.
Write targeted meaning, learn how to use data (metrics) to understand the audience better. This is how one will be able to place engaging, highly relevant ads with the right audience in front of the right people and at the right time. In addition to this, there is another e-commerce area where Facebook excels at: mobile. However, there are still far more people browsing, looking for information, and comparing products on their phone than completing purchases. The problem is with this platform unable to figure out how can you can make people to make purchases using their smartphones. Try using a video advert, use Facebook’ offers’, ‘boost’ an existing popular post, stop selling, creating a custom call-to-action (wording), among others.
With over 500 million active users, Instagram allows users to engage with brands locally. Much like the giant Facebook, the platform is also at the intersection of social commerce and e-commerce. And if you are savvy and sophisticated enough, this is an excellent platform to reap great rewards. For that, you need to come up with strategies that enable you to get there. Try building rapport with influencers, improve your response rate, build customer relationships, improve your Instagram reach, and also posting eye-catching images. Here, you can get a little more creative such as creating a simple video announcing your product. In addition to this, why don’t you think to reward those people who click to view the video with anything attractive reward of your choice? This is another best way to influence them to buy your products.
On And All:
This is how one can stay relevant for the long run!