When it comes to social commerce, social networks, social channels, and social media networks things may all appear to be the same but can be quite different for your brand and sales channel to drive the right kind of audience to the targeted landing page.
- Should I advertise my product differently on Facebook vs Instagram?
- Does your social commerce advertising strategy differ from your traditional media advertising strategy?
- How can I even get started with social commerce?
In this guide, we breakdown exactly what social commerce is, how you can take advantage of it, and why it is essential to the future of your business.
Without a doubt, the three social media sites that are vastly ahead of their competition that we love the most are Instagram, Facebook, and Pinterest. These platforms not only make it easy for you to use their native shopping tools but also encourage their passive users to convert into paying customers in several different ways and are great for customer service through live chat features such as Facebook messenger.
Facebook is the oldest social media platform on this list. Even so, it is constantly innovating new ways to drive consumer interaction and improve user experience. Examples of these services include Facebook Marketplace, Facebook Messenger, original shows, and popular videos through Facebook Watch and Facebook live. Facebook is known for being data-driven and observing user behavior to reach conclusions and strengthen its brand. In particular, Facebook’s social commerce functionalities and marketplace are one area that this company has invested in heavily.
- You can curate the products that you display on your Facebook business page.
Instagram is the sister platform of Facebook. Instagram is generally accepted as the trendier platform, catering to millennials and younger audiences. This social media platform focuses on photography and videography. This makes it an excellent place to advertise physical products for the short attention spanned audience.
Here is a handy list of functions available on Instagram for social commerce.
- You can integrate your Instagram Shopping account with your Facebook Business Account.
When it comes to sheer size, Pinterest is not nearly as large as Facebook and Instagram. Facebook boasts over 2.6 billion monthly active users. In contrast, Pinterest claims a respectable 322 million monthly active users.
Here is a handy list of Pinterest’s social commerce functionalities.
In-person shopping is an inherently social activity that combines utility with leisure. Even so, social commerce is a rapidly exploding field. What accounts for this explosive growth in the face of traditional conceptions of shopping?
The customers on these social media platforms are actively looking to purchase products. A staggering 74% of consumers were influenced to purchase a product after seeing it on social media. When a user sees a provocative Instagram video that centers around a new cell phone case, they may be tempted to check out the price and product description. If that information is easily available, it raises the likelihood that this interest will lead to an actual sale. If not, they will likely find the video amusing and continue scrolling until they find one or more products that they can learn more about.
Social commerce is an additional step that can be added to your marketing strategies to create a more robust system overall. Brands’ identities are especially important for B2B marketing, given that businesses are not as easily swayed by impulse purchases as individual consumers are.
eCommerce and social commerce are two sides of one coin. Traditional commerce is simply the act of purchasing or selling a product at a physical location. You exchange your money for a product, and the product is either put into your hands or delivered to you from the store. Both eCommerce and social commerce are off-shoots of this basic principle.
- Always open, can adapt quickly to customer requests
- Organic customer engagement
- Scaling is difficult without large initial investment
Social media continues to blur the lines between your virtual and physical identity. In the past few years, we have seen a large shift in consumer activities. This shift is particularly visible in spending patterns. In 2017 the top 500 retailers reported revenue of over $6.5 billion from social shopping. This is a 24% increase from the year before. Each year from social media’s inception, there has been an increase in how much money is spent through social media. With billions of dollars being put into social platforms by consumers, the time to capitalize on your social commerce strategy is now.
At this point, you should have a good understanding of the importance of social commerce to your business. With that in mind, here are our top recommendations for anyone looking to get started in the world of social commerce.
Now that you have finished reading this article, you should have a deeper understanding of social commerce. You should know what social commerce is, how you can take advantage of it, and why it is essential to your business’ future. You should also know the differences between the three top social commerce platforms, and the tools available from each. Finally, you should know the basics of cultivating your own social media presence. With this knowledge in hand, you are ready to begin on your social commerce journey.