Ecommerce patterns are changing at an ever-accelerating pace. Innovative technologies and its functionalities underlie much of the change. Today, we are seeing the shift towards social media apps. Social media presents a huge opportunity for ecommerce sector. Majority of the social media users in recent days are noted to turn to social media platforms to research and buy products and services. It is difficult to deny the influence of social media on every purchase made. An extension to make a purchase via social media apps is no longer a want, but has become a need.
Social media platforms are a revolutionary tool for retailers and shoppers
Shopping in Social media is picking up a big way. Active social media users make up to half the global population today. There is so much of social media activity happening every minute. The number of posts, shares, activities, influence, displays, sales etc. that happens in a minute through social media apps is truly phenomenal. Consumers are hastening their decisions under the influence of social media. This is challenging the producers to create new business models in order to exploit the changes.
Why E-commerce is picking up Huge on Social Media Platforms?
- Real-time Convenience has been one of the principal reasons for customers to adopt social online purchasing
- Most of the social media platforms are today offering an invaluable rate of opportunities and resource to brands that can enhance their sales, thereby, bridging the gap between social and buying
- For brands, this could be the cost-effective approach to reach a potential lead
- Integrated shoppable ads can act as a huge influencing factor
- Social media users often follow stories to get influenced, and to get an insider view of all products that interest them. They even follow stories to find out about new launches
- Social media platforms offer brands to be more creative in their stories
- Gen Z, the new kids on the block is adopting new ways of brand-consumer relationships, mostly focused around social media experience and entertainment
- Convenience, flexibility and time saving for shopping are the three prime factors indicated by customers when questioned about shopping via social media platforms in a recent study.
Few successfully running Social Commerce
Several social platforms are integrating ecommerce that allows users to shop right within the social media platform. Instagram recently expanded shopping in stories to businesses in 46 countries. Now, the facility allows users to shop from select brands in Instagram Stories. Snapchat too recently announced a new partnership with Amazon to facilitate a feature that will allow users to search for products on Amazon right from the Snapchat camera. Facebook is a big winner in social commerce. Pinterest announced its Shop the Look pins and even introduced its Lens feature, a visual search feature. The company also signed an advertising agreement with Target that leverages the Lens feature. Such roll outs of social commerce is predicted to incline in the days to come.
Statistics that Social Commerce Players cannot Ignore
Global internet users have surpassed 4 billion and the total number of social media active users around the world has crossed 3 billion shortly. This is a huge number to tap for retailers. Social commerce can be the right way to attract consumers.
If you are running an Ecommerce business and planning to go big way on social media platforms, then the following strategies will guide you to make it more successful;
- Identify and establish a strong place on social media platforms
- Plan and implement a comprehensive social media activity. Remember, all your activities should focus on commanding intense trust from your customers and followers.
- Measure and track your brand strength using analysis and metrics
- Strike the right balance between chance and risk
- Determine those that drive better returns
- Focus on the need-based programs
- Focus on sustaining your brand value
- Seek your influencers
- Last, be active
Final Say: Social Media and Ecommerce Are a Great Match
Consumers these days demand for 1:1 experiences. According to recent research, nearly 80% of consumers are most likely to do business with a company that offers a personalized experience. This indicates that customers expect personalization and value it too.
Retailers who have realized this are already reaping benefits with personalization.
Social commerce can be the right strategy to get closer to the customers and to make your marketing and sales approach more personal. It definitely creates a lot of potential opportunities and a lot of expanded reach.
Shopping through social media stories is a potential plot twist. Brands need to use this phenomenal function and make this process more frictionless.