April 1, 2021
Everyone wants to shop online. It’s easier, cheaper, and more convenient. That means, if you’re running a business, social commerce is the way to go. Users also find it more engaging and familiar because they can comment, like, and share content.
To demonstrate the value of social commerce in the customer shopping experience, here are a few recent stats:
The global social commerce market is one of the fastest-growing on the planet, so what defines this new type of procurement?
Social commerce is the use of social media channels to go transactional. It’s a subset of electronic commerce that supports social interaction and user contributions to assist online buying and selling of products and services. It’s the use of a social network in the context of e-commerce transactions.
As more social media platforms move to transactional functions, brands need to keep up with this trend. Here are some of the different types of social commerce you can use in your online strategy:
Using artificial intelligence to keep people interested complements social commerce perfectly. Chatbots help to reduce the cost per conversion and steadily increase sales. You can use a bot with step-by-step CTAs and playful language to inspire users to purchase. This type of commerce creates a convenient and interactive shopping experience.
China is a global leader in this form of social commerce, with an industry projected to reach $170 billion by the end of 2021. This has, undoubtedly, inspired the rest of the world to jump on the live video train. Brands like Facebook, Instagram, and TikTok have all implemented new shopping features for live video.
Usually referred to as “Stories” on social platforms, temporary content creates a sense of urgency that pairs beautifully with social commerce. Brands can promote new products through their own stories or through those of influencers. Just remember, although highly effective, this method can also be time-consuming as this type of content only lasts for 24 hours. It works best for things like discounts, sales, or quick promos.
Plan for compelling content and make sure you publish on a frequent basis for maximum reach and effect.
Another highly effective strategy for engaging in social commerce is to create content that is shoppable. This allows for a frictionless experience where consumers can complete a purchase in a few simple clicks.
Brands can implement this form of content as part of their social commerce strategy with the ultimate goal to drive more traffic to an online store. With products that are readily available, companies can tap into impulse buying and score right off the bat. Instagram offers a great opportunity to create shoppable content and a quick guide on how to do so.
So, what does this all mean? The customer experience has changed and it’s never going back. The world of commerce is evolving on both a global and digital scale. It’s simply easier, cheaper, and more convenient to shop from home.
It doesn’t matter whether you sell a product or service, if people can find you and buy online, it’s likely that they will. The new shopping experience is virtual. Aligning business goals with this tactic gives a brand the competitive edge and drive to smoke the competition.