Social commerce guide and how it works?
Table of Contents
Social commerce is one of the most effective tools that enforce businesses online on social media. The entire focus of the world has shifted online in times of pandemic today, more than ever.
This is enough to portray that having an exclusive and fit online social media presence is very necessary serving the driving force for businesses that would otherwise have no physical means, or vice-versa.
Social commerce is changing the games of businesses with modern times and developing technologies, where people enjoy buying their favorite products at the ease of their homes and getting good discounts or sale options, then personally visiting a store.
Let’s dive straight into understanding how 2020 is working along with social commerce and what are useful strategies that advance social commerce.
Social commerce means selling products to customer directly from social media platforms. The narrative of social commerce and social media marketing is different from each other.
With social commerce, the store, comes to customers without having to leave their homes for shopping, whereas marketing promotes that traffic online over that social site to boost its commerce.
There are many benefits to this of course, with service utilities like chatbots, checkouts, and autofill payments and delivery details. With social commerce, it is easier to shop, with few clicks and taps rather than traditional webstore or physical stores.
The efficiency of social commerce purchase journey is far more than it seems to be. To be specific with the math, if one has a website and store, like you get 10,000 visitors to the site. Out of them, almost 25% give you their email, 5% respond to your email by opening them, and 2-3% end up buying something through it.
This game of ending up with 1 buyer over 10,000 can be changed through various social commerce models, and that is how the entire system of generating revenue online over social media work.
There are several options with which a strong foundation of social commerce can be built. As per trends and best practices some of the strategies, ought to work are elaborated below.
Empower your consumer base with content
User-generated content or smart content is wise tactics to go after to engage loyal and interested customers. This not only builds a strong consumer base but also attract new ones in your audiences.
For instance, an eager customer tags your business account in an Instagram post, it can be used to put up on stories to drive engagement. Like here a user tagged these crocs saying she wanted them. So now the business of these crocs can put a story re-posting her story.
Regardless of the size of the company, this marketing tactic has become very popular across the boundaries of media platforms and this move has helped many popular brands to build their social media presence and gather a stronger social commerce reputation.
Hence for any company big, or small, a strong social commerce can be built by introducing new content and engaging content, that can attract the attention and interest of the audiences, so much so that they end up buying from your social media account.
Drive growth with influencer marketing
Adding to completing organic user-generated content, many marketers are opting to work with social media influencers, so that their product gets promotion and visibility. In today’s time, this is not new, but sure to deliver results. As per stats, 17% of brand companies end up spending more than half of their marketing budget on influencers.
About 89% are of the opinion that influencer marketing over eminent apps is more beneficial than only paid promotions. Another half to consider is that micro-influencers also creates a good impact over marketing statistics in businesses. This is the most cost-effective method, when attempted rightfully.
For example look at this influencer marketing the daniel wellington watch as part of his daily schedule:
Moreover, micro-influencers have already built an audience, who are brand seeking and they have established trust with them. This influencer traffic can be used to build similar and stronger audiences that will improve re-targeting and traffic over social media, boosting social commerce.
Influencers are new game-changers, and they have been ever since independent, blogging, and endorsements emerged as a concept, hence good following influencers can help the brands with upliftment and growth in all aspects.
Think native for every social media platform
There are a number of social media platforms today, right from Facebook, Instagram, Snapchat, Pinterest, and more. Every social media platform caters to different audiences, with tastes and interests. Hence thinking and acting along the narrative and nativeness of every social media becomes more comprehensive and advantageous.
Though this step would look exaggerated, in terms that social media, is an online platform, and hence all of them are the same. Here is where you can fall of the initial battle.
Facebook, has a larger audience with age groups varying between 13-60 years old, whereas Instagram is the online hubbub of the youth and z generation kids. Snapchat is more techno-savvy, or socially savvy people, and Pinterest for artists and idea seekers of all age groups.
This narrative helps in understanding the aspects such as the relateability and creativity of every social media platform to target every kind of audience. For instance, tagging many products on an Instagram post has significant benefits. So, when a user clicks the post, they land on many other options to browse through.
Similar is the case with every other platform. Therefore, to see success, you need to work as per the native of every platform.
Work with correct tools
Even when you have all the ideas and strategy ready, what you will still need is effective tools that allow you to execute your plan. There are great options and tools for such social platforms, with which every social commerce target can be met.
For instance, Jumper AI is an amazing social commerce tool that comes with pre-built automated checkout chatbots, which integrate with all kinds of variant tools and platforms. One can integrate it straight into the Instagram accounts to create a social commerce experience.
Here are a few of the features of the Jumper AI.
Along with these tools, there are always new tools that are introduced in markets, which work pretty well for all businesses. One way of easier identification is changing social media accounts to business accounts. This way, the audiences can recognize the official accounts better and shop from trusted sites.
It is smart and wise to continue working with social networks and tools all the time, and try new features for business betterment. This is beneficial for both commerce potential and engagement of customers to boost social commerce and make the max out of it.
Measure your strategy
The ultimate goal of social commerce is to guide customers to checkout, and this can be done in a number of ways. It can be done by introducing great content, two-way communication, and much more. Ultimately though the best way of this measurement is in dollars and cents, with how many sales were made.
At the same time, as it was elaborated above, not all audiences will be ready to shop readily over your social network. Yet, there are more chances, as social commerce is yet a concept in making.
There can be alternative ways of measuring strategies as well. Like how many emails were captured, and how many customers made purchases through it.
What has been the brand engagement for customers over the last few years based on any reforms or changes introduced to track and monitor the progress growth of the brand and company?
The customers are your accolade
For any magnanimous organization to be successful, your customers need to believe and support your service or product only then will the motive of social commerce success is possible. Without them, there is no scope for a good consumer-based market for product selling company.
Customers are demanding and smart in today’s time. They very well understand their profit and loss and are vigilant. So, for many social networks, a customer-centric approach can add value to their company, by enabling themselves to differentiate from their competitors who fail to offer the same experience and service.
We all are customers to one or the other thing. Social media has managed to bridge this gap between potential customers, and online stores, for an undying shopping business. Another thing about customer satisfaction today through social commerce is all about knowing it through their feedbacks.
Many e-commerce services and online marketing products have customer feedback as a necessary portal, that helps them understand, the experience of their customers concerning their brand as well as understanding the scope of improvements.
Customers in every sector are powerful and one with their minds. What attracts customers today apart from product satisfaction, is the marketing and sales tactics. The more you ensure about benefits, the more your customers rely on your product.
Right from marketing to service to delivery to packaging to quality, at every single step, it’s your customers that should be kept into mind while you make your move forwards into building a secure one.
If the social market is a business hub, its consumers are the providers. If the consumers are happy with your response and what you say them, you can ensure your success and a prolific growth over social commerce.
A customer-centric market is the new revolution and is going to remain one, till the customers’ demands, which is going to be eternal. Hence every social commerce activity can develop and bloom if the correct traffic and customer base is brought to boost sales. Social commerce is the new culture and the future of markets and businesses.
Social commerce is a subset of electronic commerce that involves social media, online media that supports social interaction, and user contributions to assist online buying and selling of products and services. More succinctly, social commerce is the use of social network(s) in the context of e-commerce transactions.
To conclude, the seven different types of social commerce are as follows – user review websites, group buying and daily deals, social network driven sales, participatory commerce, pick list sites, platforms for peer-to-peer sales, and of course social shopping.
Social commerce encourages people to connect with a business through two-way communication. This allows customers to not only engage with your business, but it also gives them the opportunity to use social media as an efficient customer service channel where it's possible to solve problems.
As a Social Commerce Manager, you will be responsible for Influencer Marketing on four of our key markets (Germany, Austria, Switzerland & Netherlands). ... You will also help manage our social media platforms and be involved in our influencer trips and events.