In July this year, for the first time, more than half of the world’s population (3.96 billion) started using social media according to this report. While many experts do say that the lockdown is to be blamed for this feat partially, the truth is social media is consistently rising.
And while people are using to connect with their friends, families, and personalities, brands have been using this medium for a long time to drive more visitors to their site. However, off-late marketers and brands are also using it to increase their e-commerce sales. Integrating social media with e-commerce, social commerce is fast capturing the attention of marketing geeks as the future of marketing.
Let’s check out how.
Reach to the Global Market
Social media platforms connect individuals beyond countries and boundaries. In this way, taking your brand presence overseas generates much more leads and increases your client base. While regional e-commerce platforms can keep the domestic sales going, your social media presence will give you a platform to connect with prospective customers in other countries and even continents.
An Appropriate Representation of Newer Brands
New brands and niche brands often tend to struggle to gain significant market representation. Their catalogue gets easily overshadowed by the presence of big and established brands on regular e-commerce platforms. However, backed by their own social media presence, the e-commerce marketing of these brands can have a far deeper cut into the market.
Also, platforms like Facebook Shops that are intertwined with a recognized social media platform- Facebook, level the field for smaller brands. Their sophisticated and updated search algorithms offer appropriate brand representation to newer brands and companies. Moreover, consumers love it too. In fact, consumers in some countries such as the USA prefer buying directly from the brand rather than multi-brand retailers.
Build Long-lasting Brand Loyalty
Brand loyalty is a crucial aspect to keep your business thriving in the long term. Marketers have found that social media can help you to generate a likeable image amongst the netizens. Effective engagement of your social media handles with individuals can keep your brand in eternal limelight.
Merge Influencer Marketing
Also, marketers point out the crucial contributions that influencers can make towards your social media marketing. Established influencers command a deep loyalty and support amongst their following. By roping in influencers that believe in your brand, you can convert their loyal followers into your loyal customers.
The Successful Relationship Between E-commerce and Social Media So Far
Social media helps to form the desired perception of your brand in the market. Research shows that social media has had a prominent impact on e-commerce marketing strategy so far. As per a survey by North American e-commerce agency Abosuletnet, 30% of customers expressed their desire in making purchases directly through social media platforms.
Asian continent to tends to support the research since nearly one-third of e-commerce transactions in Thailand were traced back to popular social media platforms. This calls out for a thoughtful and well-vested social media marketing strategy.
What’s in Store for Brands?
Social commerce acts as a cost-effective method of marketing owing to its free nature. Marketers show that by keeping your content on social media handles updated; you can create a community of your own in a quicker way. Also, the results of social media campaigns can be instantaneously generated by integrating it with your e-commerce strategy. Each platform comes with its own analytical insights that can guide you on what is working for your handle. This can help you revamp your own strategies and adapt appropriate measures that can widen your community and increase your e-commerce sales.
The Challenges of Social Commerce
One of the biggest challenges faced by social commerce is going to be to make people transact on the platform. For instance, Facebook Shops lacks behind in terms of quick payments. The cumbersome process of entering the details each time deters people from going through with the transaction. However, if brands can win the trust of their community to enable them to go through with the transaction, social commerce can create a win-win strategy for both brands and their customers.