Social Commerce – You might be unaware of this term, but the potential it holds for your online commerce is massive & by the end of this blog, you most probably will be intrigued to use it.
According to a study, the global online shopping market size is predicted to hit 4 trillion in 2020. That is a huge market!
And the numbers are just increasing with a prediction to reach 300 million online shoppers in 2023 only in the US. These numbers are evidence enough to stress upon the magnificence of the eCommerce industry. The customer assumes the highest pedestal in the E-Commerce industry. Hence, the main focus of most of the e-marketers will be on improving and enhancing the overall customer experience.
The best way to do that is by incorporating social into your E-Commerce marketing strategy, which brings us to the topic of this blog – Social Commerce and its importance in driving revenue for your E-Commerce business.
This blog will be a comprehensive guide to your strategy building for growing your Social media e-commerce business.
Let’s plunge into it.
Hers’s what you’ll find inside this blog:
1. What is social commerce?
2. Features of social commerce.
3. Social Commerce Benefits.
4. How social media is leveraging social commerce tool?
5. How Social Commerce strategy can revitalize your e-commerce brand?
6. Social commerce examples.
What Is Social Commerce?
If we go for a Social Commerce definition, It refers to the concept of buying and selling of products via social media platforms. This is an emerging trend in the eCommerce industry. The whole process aims to create a more personalized and targeted in-app shopping experience for your online shoppers.
Simply put, you link your social media platforms to your eCommerce platform, therefore, making it more social and visually appealing too. It helps to drive in potential traffic and leads with a high probability of conversions. You might also confuse social commerce with social media marketing, but it is different as it does not redirect users to an online store. Instead, it provides them with the ability to checkout directly from the page the user is at.
Many brands are actively utilizing its power to further their brand influence over a larger customer base. Many social media platforms like Facebook, Instagram, Pinterest, etc. have become a vibrant breeding ground for many eCommerce startups giving them the boost to kickstart their Social eCommerce journey as a brand.
Features of Social Commerce
Many people confuse social commerce with social shopping, but they are different. If you ask what is social shopping, it refers to involving more people other than the buyer. All of them go through the shopping experience together and suggest if the buyer should buy the product or not through social interactions.
Whereas social commerce is different and below are its features:
1. Buy Buttons
The most common and basic way to use social media for e-commerce is by adding a ‘Buy Now’ button below the UGC post you have displayed. This button can be found with the posts, the user just has to click the button, and they will be redirected to the respective product page for the further process.
2. Shoppable Galleries and Stories
Brands and e-commerce websites are creating shoppable galleries by tagging their products in the user-generated content which is collected through social media. When people click on those tags, they are directly sent to the product page so that they don’t have to waste any more time on searching the product they like.
3. Multiple Tagging
A social commerce platform uses UGC to tag their products and make them shoppable. The best part here is that you can tag as many products as you want in one single post, you don’t have to worry about using different posts for different products.
4. Review Based Purchase
With the emergence of UGC, the users have started making their purchase decisions by the reviews of the products instead of the product descriptions on the product pages. The reviews are in the form of user-generated images and videos, which helps new users to look at the product in action and decide if they would want to buy it or not.
5. Active User Participation
Buyers actively participate in giving reviews and ratings to the products by sharing their pictures and videos with the product. They also provide feedback and recommendations for the products. If there is a product they really like, they try to justify the products and change the negative feedback by somebody else. They actively participate and provide amazing feedback to other users as well.
Social Commerce: Benefits You Can’t Ignore
Many beginners in the industry wonder if Social Commerce is the right way to reinvigorate their eCommerce startup. In fact, Social eCommerce offers a myriad of benefits for businesses that are just starting in the eCommerce industry. Come, let’s have a look at some of the social commerce benefits.
1. Grow Your Audience Base
Social Media offers you an enormous exposure to a global audience base with its ever-active user base across the world. Different platforms have different levels and different kinds of user engagement, all distinctive and essential in their way.
It also helps you maximize your touchpoints with your customers, therefore, making you more accessible with the direct messaging feature of these social media platforms.
2. Better SEO Ranking
The engagement that social media platforms bring in for your Ecommerce platform leads to more than one transaction. Incorporating Social Commerce into your marketing strategy helps you improve the overall SEO performance of your business website.
Presently in Digital Marketing, the most popular trend coming up is embedding shoppable galleries on business websites The platform engrosses the user for a long time which increases the dwell-time, hence, decreasing the bounce rate. When the bounce rate falls down, it is beneficial for the SEO ranking. Better the SEO ranking is, better is your brand authority.
3. Potential Traffic And Conversion
Growing your overall social media influence and user engagement is a key step towards attracting potential traffic and customer engagement for your E-Commerce business. Social Media encourages a two-way conversation between the brand and its customers, thereby making your customer service more efficient.
It helps to improve the overall potential traffic coming to your E-Commerce website and driving engagement that might result in a potential conversion.
Display Shoppable UGC And Drive Conversions For Your E-Commerce Brand
4. Long-Term Customer Loyalty
When you integrate your social media profiles with your E-Commerce business, you also provide your customers with a platform to leave reviews of your brand’s products, services, and customer care. These reviews are in the public domain, where everyone can view them.
Such user-generated reviews and experiences help you provide social proof of your credibility and authenticity. It generates user trust in your brand, thereby earning their long term customer loyalty.
5. Social Analytics
Social Media Platforms, these days, realize their importance as a marketing platform. So, when you integrate social media platforms like Instagram, Facebook, Twitter etc. With your eCommerce platform, you also get Analytics features that give you a detailed insight into the performance of that particular social media platform for your eCommerce.
You may also use a social aggregator tool, like Taggbox, to get a robust Analytics report of your social commerce marketing strategy for your eCommerce business.
Using Social Media As Your Social Commerce Tool
Millennials are credited for the immense success and growth of Ecommerce Platforms. They love “Social Shopping”. Around 67% of this generation prefers to shop online rather than physically going to a mall and buying stuff.
Social Media Platforms play an important role in influencing the shopping behavior of customers, even without social e-commerce platforms, through online reviews and social media recommendations.
Here is a graph that represents some of the most popular social media e-commerce platforms, as per a study-
1. Social Commerce on Facebook
Facebook is one of the most popular social commerce channels and a strong E-Commerce contender. Why? Well, for good reasons for sure. It offers businesses with immense global exposure, user-engagement, effective hyper-targeting features, ‘Buy’ button on your Facebook ads, detailed insights into your marketing campaign, and so many more. It also allows businesses to open a ‘Shop Now’ page for their E-Commerce purposes.
Facebook Ads are also very popular and immensely used by marketers for growing awareness and eCommerce sales of E-Commerce brands. In fact, a good number of 58% of online shoppers interact with Facebook Ads on a daily basis. In fact, Facebook has also introduced the feature of ‘Facebook Payments’ through which peer-to-peer money transfer and payment for online shopping could be done.
Hence, Facebook Social Commerce is a great option for E-Commerce businesses to integrate into their marketing strategy and grow their overall revenue.
2. Social Commerce on Pinterest
Pinterest is a retailer’s first choice when it comes to E-commerce marketing platforms. Pinterest thrives on visual content as an inspiration for fashion, home decor, artwork, etc.
It comes with features like Rich Pins, Shop The Look, ‘Buy It’ buttons, and many more to improve the overall social shopping platform experience of your online shoppers. With its target demographics as women aged between 18-30 years, this visual platform is a great platform for businesses to get featured on.
The Rich Pins come in four varieties- Product Pins, Recipe Pins, Article Pins, and App Pins. These give product information and directly pinned from the website where you can buy that particular product. Hence, Pinterest is a great way to drive potential and interested traffic to your website.
3. Social Commerce on Instagram
Although Instagram is a latecomer in the race of contending Social Commerce Platforms, yet Instagram marketing is rapidly catching up with the new social media e-commerce trends . In fact, Instagram contributes to higher user engagement to the brands as compared to Facebook and Twitter.
Specifically built for mobile users, Instagram grasps a stronghold over the millennials who are highly addicted to this visually appealing platform. Instagram recently launched its new and amazing feature of ‘Shoppable Posts’, which will allow brands to sell their products on the platform itself.
In fact, you can convert your embedded Instagram posts on your websites(other embedded social media posts too) into Shoppable by using a third-party app like TaggShop, the E-Commerce feature of Taggbox.
Revitalize Your Social Commerce Strategy For Your E-Commerce Brand
Till now, you must be entirely convinced about the fact that Social Commerce is a “must-do” tactic for kickstarting the user-engagement and enhancing the revenues for your E-Commerce business.
It has already come a long way since its inception, and yet it is still evolving.
2020 is almost here, and many brands still contemplate over the strategies that they may employ to embark their E-Commerce business to new heights. Here are some handy tips that might help you grow your Social Commerce Platform.
Come, let’s have a look!
1. Earn Trust With User-Generated Content
User-Generated Content has become integral to modern marketing. Brands have realized the fact that customers are their best billboards and integrating user experience and feedback is essential to earn trust and attract meaningful conversions. Not only better eCommerce conversion rate optimization but also the overall enhanced user engagement is what makes UGC the most preferred way of brand marketing.
Users readily respond to UGC instead of a sales pitch glorifying a brand. It enables brands to showcase products in a real-world setting, thereby earning trust and long-term loyalty of the users. UGC is helpful in making a purchase decision, and this helps to increase eCommerce conversion rate meaningfully.
2. Shoppable Posts – Turn Your Social Into Sales
Social Media is constantly democratizing brands and marketers to monetize on their personal ideas and creativity. Shoppable Posts are a result of this trend where brands are seizing the moments and capitalizing at the point of inspiration itself instead of driving the users from one platform to another. This avoids confusion and delays in the purchase journey, thereby preventing the abandonment of the shopping cart. This helps to increase the overall eCommerce Sales.
Shoppable Posts allows you to use social media not just as a platform of engagement but also as a platform for conversion and revenue generation. Shoppable posts are the best way to earn directly from your earned media content over multiple social platforms.
Embed Shoppable Social Media Posts On Your eCommerce Website
3. Create A Mobile-Friendly Social Commerce Platform
Almost 93% of users access social media through mobile phones. Smartphones have made social media more accessible than ever. Users can surf through multiple social media channels, eCommerce platforms, visual platforms, etc. simultaneously.
Almost every other social channel or eCommerce platform is optimized for mobile screens. Users readily shop online through their smartphones. A Social Commerce Platform with mobile responsivity generally has higher order values than the ones which aren’t mobile responsive.
48% of traffic that Ecommerce platform attracts comes from mobile phones. With reducing spans of consumer attention, having a mobile-friendly platform is quintessential if you wish to grow your overall revenues.
4. Quick & Easy Checkout Experience
Having a frictionless, quick, and easy checkout experience is integral to ensuring that your users don’t quit on their purchase journey midway owing to complex form filling procedures during payment. To avoid that, use automated checkout chatbots to autofill the payment and delivery details. Keep it simple, short, and straight.
A simplified checkout process and minimized purchasing time plays a very important role in hiking conversion rates and lowering down the cart abandonment rate.
5. An Effective Email Marketing Strategy
Having a robust email marketing strategy is another crucial aspect of your Social Commerce marketing. It is all about sending the right emails at the right time to the right people. If done correctly, you may achieve remarkable results. In order to do so, first of all, you need to understand a customer’s lifecycle as a journey.
One important aspect of any successful email marketing strategy is sending relevant emails to the targeted audience at crucial points in their customer lifecycle. As an E-Commerce brand, you need to take into account all the different ways in which a brand may interact with its customers. For a successful email marketing strategy, always plan a long-term strategy rather than a short-term.
6. Affiliate With Micro-Influencers
Celebrity endorsement for brand promotion was preferred back when social media was not on the rise. With the flourishing of social media platforms, micro-influencers grew in number and influence. Affiliating with micro-influencers for brand advertising is not just cost-effective but also result-effective.
These micro-influencers each carry a huge chunk of follower base on social media platforms. Associating with them for spreading a good word for your brand among their social base can benefit your brand immensely. All you need to do is find the right influencer as per your industry.
Social Commerce Examples
1. Marvel Selling Tickets Through Social Commerce
Aspiration is something the world should learn from Marvel. Being one of the biggest movie studios in the world didn’t stop Marvel from selling its tickets through social eCommerce. Marvel employed a simple automated checkout bot for the purpose.
When users reacted on the paid and organic social media promotions of Marvel using their hashtag, the checkout bot was triggered to take over in their DMs. It proved to enhance overall user engagement and conversions.
2. Jordan Capitalizes Through Snapchat Social Commerce
Jordan, the iconic brand which introduced the amazing Air Jordan line of shoes, also boosted its eCommerce skills by collaborating with SnapChat and leveraging its social eCommerce potential. The brand targeted the fans of the NBA All-Star game.
Interested users around the arena or within a certain radius of it could access a special SnapCode which allowed them to participate in an exclusive launch sale of the special Air Jordan III Tinker Shoes.
Now Is Your Time To Start Your Social Commerce Campaign
More and more people are turning to social media for different aspects of their life. This presents a perfect opportunity for you as an eCommerce brand to start your Social Commerce Campaign.
Just a few years back, launching a full-fledged Social Commerce Campaign was just feasible for big brand names. But thanks to multiple social media tools and software, now even small and budding brands find it under their reach to launch a Social Commerce Campaign and benefit their brand/business.
Then what are you waiting for?