Have you already integrated social commerce into your business? Are you worried about the unpredictable nature of social media and its effects?
Worry no more. In this article, we will be going through 4 social commerce trends you need to be on the lookout for in 2023.
Social media users continue to increase as the digital landscape continues to expand. According to Statista, social media users are predicted to increase to 5.85 billion by 2027.
As it is, the number stands at 4.89 billion. So, if this number grows to the predicted point businesses on social media will experience unlimited profits.
While social commerce has immense benefits for your business, it is important to be aware of the trends and changes predicted so you can adjust.
Also, being aware of these predictions allows you to take advantage of different strategies so that your business can stand out and reach more people on these social commerce platforms.
Let’s go through the 4 social commerce trends you need to know about.
1. Incorporation of Social Commerce features in Social Media Platforms.
Currently, most of the popular social media platforms like Instagram and Facebook have already made it possible for customers to discover and shop for products within the platform.
This is one of the social commerce trends that had already started getting traction in 2022 but is predicted to become more popular in 2023.
Social media platforms no longer want to be the place where customers only discover products. These networks are investing in features that will make it easy for a customer to buy a product without leaving the app.
TikTok is one of the most popular social media platforms that has recently jumped on social commerce trends by adding a shopping feature.
After many trials and tests, the TikTok shopping tool was first rolled out in select countries but has since been expanding to a broader scale.
With the #TikTokMadeMeBuyIt hashtag having over 51.5 billion views on the platform, it would be great for this engagement to convert to sales for products featured.
2. Increased Use of Micro-Influencers.
Instead of trying to keep up with celebrities and macro influencers, it is predicted that micro-influencers are going to be a more profitable investment for businesses using social media.
While these macro influencers have contributed largely to engagement and conversations in these social media platforms, micro-influencers are the tool to drive social commerce sales.
A previous article by HubSpot noted that up to 82% of customers reported that they are most likely to buy a product recommended by a micro-influencer.
This is one of the social commerce trends that is not about to change. For social commerce to succeed, trust is highly important to customers.
Micro-influencers are known to have a niched-down audience that trusts their opinion and highly regards their recommendations.
This is one of the social commerce trends you can easily jump on.
3. Push for sustainable and ethical practices in businesses
Believe it or not, climate change is affecting customers purchasing decisions.
According to a 2022 survey by Deloitte on how consumers are embracing sustainability, they found out that up to 37% of consumers have chosen brands that have ethical practices.
Consumers are starting to question how business practices are contributing to climate change. Online conversations show just how important this phenomenon is to buyers.
This is an example of social commerce trends that can easily be ignored depending on the choices a customer has when making a purchase but it beginning to be important as time passes.
Big businesses are going out of their way to change their practices such as how they package their products by incorporating more environment-friendly materials to package their products.
How will this affect social commerce? Well, if you want a positive reputation online that will motivate new customers, then you need to start caring.
When a customer is in conflict on whether to buy your product or your competitors you want to give them a reason to choose you by being environment friendly.
4. Popularization of AI and Voice Assistant Tools while shopping
Recent controversy has exposed the rising power of Artificial Intelligence (AI) and its effects on everyday life.
The truth is, AI will also affect social commerce trends. However, it is predicted that these effects are more likely to be positive.
Through AI your business will be able to optimize your product descriptions and make them search engine friendly and also, your will be able to manage your company’s social media presence.
Shopify is an example of a social commerce platform that has embraced this trend by making it possible for you to generate a product description using AI when listing a product.
You can also use AI to help manage your customer relationship. How? By making sure there are timely automated responses whenever customers reach out to your business.
Can you imagine how cool it would be for a customer to purchase a product over voice command?
That is where we are headed. The increasing popularity of voice command assistants like Amazon’s Alexa and Apple’s Siri will contribute to the success of this social commerce trend.
As this technology evolves, so will its use and it will increase as a social commerce trends.
Here Is What We Recommend For These Social Commerce Trends:
- For your TikTok content, make sure you include in your captions your own branded hashtag plus the #TiktokMadeMeBuyIt hashtag every time you upload content
- Consult an influencer marketing company like Twiva to help you with picking the right micro-influencer for your next online campaign.
- Find ways to incorporate sustainability such as using recyclable packaging and reducing your carbon footprint. Make this information public so your customers can see when they are making a decision.
- Use AI like ChatGPT to help you formulate a search engine-friendly product description when listing your products online.
In conclusion, the opportunities presented by social commerce trends are going to be highly beneficial to businesses that choose to adopt them early enough.
Take a look at the recommendations we have shared above and see how you can contribute to the success of your business this year.