In this new era of aggressive digital migration and social commerce, whether it’s a fancy ad on Facebook or an interactive quiz on Instagram social engagements are always there. Social media has already allowed Direct-2-Consumer (D2C) businesses to engage with their consumers at a much closer edge.
There is no doubt that social media has already created a hub where businesses can interact well with their consumers. This has quickly facilitated the rapid growth of social commerce. According to statistics, around 87% of E-commerce user’s state that social media is the best marketing place.
With Facebook alone estimating a rough figure of 2.91 billion monthly active users, as of the third quarter of 2021, it is already becoming the biggest social network worldwide. This number in relation to Instagram and WhatsApp performance alone would automatically affect the purchasing power of many commodities in them.
Most consumers prefer purchasing their commodities online immediately after you display them on your social media platforms.
This is so because it encourages them to have a personal and seamless experience of your product since it’s convenient and immediate. This is the power of social commerce.
Why Try Social Commerce For Your Business.
As a brand or a business, social commerce is the best Return on Investment (ROI) measure that you can employ in your daily runs.
Using social commerce features also lets you personalize your customer experience and boosts your retargeting efforts. When viewing your ad or posts, retargeting reminds buyers about your products and encourages them to take action.
Generating a social media buzz, where your customers would always demand new items from you is what should be important. One of the greatest advantages about social commerce is that, once you build your solid presence in the market, your customers will develop the Intense Fear of Missing Out commonly known as FOMO, which would be an important tactic of making many people buy from you.
The most popular social platforms that would help your brand achieve more in investments and also build a strong presence in the social commerce field are Facebook, Instagram, Google, WhatsApp, and Tiktok. Now let’s understand each of these platforms in detail;
- Facebook – as of February 2021, Facebook had an average of 2.80 billion monthly active users. Setting up a shop here would be a great way to get you started on social commerce.
- Instagram – being a sister social platform to Facebook, research shows that at least 70% of customers search for products here. It’s easy to create shoppable posts here that would generate more traffic.
- Google – technically this is not a social media platform, however, google shopping is another premium platform for online retailers. Google shopping provides a stiff competitive edge to Facebook, Instagram, and Pinterest since they have a 30% higher conversion than pure text ads. You can try it out.
- WhatsApp – Together with Instagram and Instagram, WhatsApp is also part of the social platforms related to Facebook, WhatsApp has grown immensely to creating shoppable profiles that even allow you have a catalog presentation for your products.
An interesting fact about this platform is that it helps you provide a more native, less clunky shopping experience for potential buyers, really nice yes!
- Tiktok – The fast-growing social platform among generation Z, has amassed a huge following in the shortest period of time. Having a presence as a brand there would help you win more customers.
Interestingly, these social commerce platforms have found an easier way of converging more interactions through digitization. Investing in this is quite beneficial for your investment strategy.
In summary, we can confidently say that when all these factors are taken care of, from the perspectives of your brand/business goals, achieving profitability in your business investment would be an easy task.
Social commerce is ultimately the solution to boosting your ROI!