Figuring out the landscape of social e-commerce
Updated: Apr 8, 2022
With social e-commence on the rise, retailers and consumers have never been closer. With over 80 million social media buyers just alone in the US, and still increasing. Experts believe that social e-commerce is expected to still grow, with the pandemic accelerating its growth. Considering the growth forecast of social commerce, businesses which incorporate social e-commerce in their strategy are likely to benefit. It emphasizes the importance of aligning the business social e-commerce to the brand image such as through tools like user-generated content, working with influencers, and having a call to action.
Social media marketing goes hand in hand with social e-commerce. Combining both, it would allow for greater ROI for your business. Tools to trace success for your social media could be a combination of social media engagement, impression, reach, and click-through rate [CTR]
Social media provides organic audience targeting. Each social media platform targets a different type of audience, this by its own acts as an organic audience filter that businesses can use to appeal to their target audience. These platforms also allow for brands to target their audience through their demographics and hobbies which could be when placing an ad through Facebook.
The arrival of the “Buy Now” on social media fortified social e-commerce.
In 2015, Pinterest initiated a “Buy Now” button for their platform. 84% of the consumers using the “Buy Now” pin is new to the brand, showing that the “Buy Now” pin is able to draw in more conversion from the business target audience. Following Pinterest's example, Twitter also has a “Buy Now” pin that works with other platforms such as Shopify, the same goes for Facebook and Instagram.
Instagram can be one of the social media marketing platforms for social media e-commerce. There are over 500 million active daily users with approximately 53 minutes a day on the popular social media platform, with the majority of the users being between 18-and 34 years old. According to Facebook research in 2019, 65% of users visited a brand’s website or app after it has piqued their interest in the app and 46% of them purchased from a brand online or offline. Instagram also has many audience growth opportunities. Social media marketing has been made easier with the help of Instagram, by allowing your advertisement marketing to boost your business by choosing your target audience precisely, you can target the audience via interest, behavior and even demographic data. It is also very common for social media influencers to help promote a company through Instagram by either posting a story or post to help build brand awareness for the company to their followers.
Facebook is one of the most commonly used social media platforms in the world. Recently Facebook is also expanding its social commerce platform such by creating a Facebook Shop for consumers to browse and make purchases. Facebook intends to make this platform enticing by featuring personalized products and recommendations and direct contact for the merchant to make instant purchases. This allows for easier conversion down the marketing funnel as consumers would be able to directly purchase products from the brand. Such a platform also increases the brand awareness for the brand’s target audience. Facebook is also providing consumers with more avenues to connect with the brand such as via Facebook messenger and live streams and also a direct contact button to link to the brand’s WhatsApp, messenger, etc. Such platforms would increase the brand’s share of voice which in return increases the engagement metrics of the brand. Brands could also put a website on their “Shop Platform” on social media which allows for them to track their bounce rate.
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