You may need more convincing to explore social media eCommerce marketing. We will let the facts and data do the talking to get you on the hook.
It is predicted that by 2022, social media will account for $992 billion in sales. By 2026, analysts anticipate that number will reach $2.9 trillion. E-commerce firms should be active on social media.
E-commerce and social media go together like peanut butter and jelly. Marketers in the e-commerce industry use social media to spread the word about their businesses, interact with consumers, and advertise their products in both organic and paid ads.
Hootsuite's research took the following data from the global state of digital in 2022: Five hundred seventy-five percent of internet users between the ages of 16 and 64 make a weekly purchase from an online store. In addition, 26.5% of social media users utilize these sites to research items before making a purchase.
A social commerce platform allows customers to shop for products from their favorite businesses without leaving the social media app, website, or dashboard.
Instagram, Facebook, and even Tiktok are widely used platforms that let businesses set up an online shop where customers may browse products and leave comments or likes on individual posts.
The following are some of the most often-used strategies for promoting and selling products on social media:
Marketing an online store or a branded app to increase visibility and sales. Direct sales using social media platforms
Effective social media interaction with clients and potential clients
Assisting buyers both before and after a purchase has been made.
Gathering information about your business's market and sector for effective feedback.
Promoting your product or service by creating an online social media community
All of the strategies above are used by many brands to establish a successful social media eCommerce campaign.
Some of the benefits of social media for eCommerce include:
1. Boost your online audience
Nearly any business may profit from marketing on websites like Facebook, Twitter, and Instagram since 71% of individuals with Internet access use social media. In the case of online stores, this is particularly true.
2. Find out where your target audience is most active.
When consumers are actively looking for certain products, you may reach them by optimizing your website for search engines and launching PPC advertising. However, social media also allows you to connect with customers who spend the most time online.
3. Casually interact with your intended audience.
Compared to other advertising channels, social media platforms also provide a lot less formal means of interacting with prospective clients, making it simple to have a two-way discussion with individuals who are curious about your goods.
4. Promote your brand online.
Social media's inherent sharing capabilities make it a great platform for any online business. Your existing consumers may recommend your company to their family and friends.
After looking into the benefits of e-commerce in social media, let’s explore the different platforms you can use in your future business.
Here are the top 5 Social Commerce platforms that business owners use.
For our number 1 on the list, we have Instagram. It is one of the most widely used social networking platforms in every country. Currently, the app is used by more than a third of all social network users worldwide. You can help your business flourish in the digital marketplace by giving clients simple access to your products through Instagram Shop.
If you are targeting Gen Z or millennial audiences, have an established Instagram profile, and have interesting or engaging image or video content to sell your product, brand, or service, Instagram's shopping features can be of great advantage for your business.
According to Statista, as of March 2018, Facebook has 2.9 billion active users per month, making it the most popular social networking platform. What began as a means for students to communicate with one another online has grown into a major consumer market.
In the social media trends conducted by Lebow in 2022, Facebook shoppers will outnumber non-shoppers three to one, with 31% preferring to make their purchases on Facebook (including Instagram and TikTok).
If you're targeting local customers, the Facebook marketplace is the best feature you can use on Facebook. You may use this feature to sell the products at your pop-up shops or permanent stores in addition to your website. This number might help you decide to start posting your products; there are 562 million people who use the social commerce feature to search for goods and services provided by neighborhood companies.
Pinterest is a one-of-a-kind platform since it combines search engine optimization and social networking, which is ideal for shopping. Pinterest users often consult the site for product information. According to Shepherd (20220), 9 in 10 share content inside the app to inspire future purchases.
Because the products become aspirational for consumers who pin your content to their boards, Pinterest's social commerce is built upon the visual narrative sellers can provide to their customers. Simply put, there is greater curation than on Instagram.
Pinterest has a more gallery-like vibe than other social media platforms, allowing it to showcase various items on selected boards. The best option for niching down.
As Instagram readies itself to compete with Amazon, Snapchat is also delving into eCommerce by making it simpler to purchase and sell products within its app. With this, Snapchat created its social commerce feature to benefit the growing number of eCommerce firms using the platform to interact with consumers. According to reports, its 347 million customers have a combined spending power of $4.4 trillion.
Customers may make orders with each company without leaving the Snapchat app due to Snapchat's ability to let businesses create shoppable product catalogs and augmented reality (AR) filters. Additionally, it highlights Snapchat's efforts to compete with Instagram's Shops function by emulating an online marketplace.
If you want to explore the new eCommerce function of Snapchat, then this is the best time to explore and experiment with how to market your product on this platform.
According to Google VP Prabhakar Raghavan, 40% of young people use social media platforms like TikTok and Instagram to choose a suitable lunch spot. In response, Google has started TikTok videos in its search results.
As long as your organic videos and sponsored advertisements are optimized correctly, they will have a chance of being shown in response to searches for keywords related to your product or business.
With over a billion viewers monthly, TikTok has a massive audience and a lot of opportunities for monetization through its ForYouPage and beyond. In a nutshell, TikTok and e-commerce work well together.
Supporting customers is an essential part of any social media e-commerce strategy. Existing clients may be attended to and supported more effectively through social media. Consequently, they have become the standard method of contacting help desks for many well-known companies.
Having social profiles that people can connect with is important for more than just giving customers a positive experience. Your prospects may see your public interactions with clients. That's going to make them think twice about making a purchase. The way you deal with complaints in public is indicative of how you'll treat them privately.
So, what exactly do you and your company need to get going? Use social media in your e-commerce strategies to gain an edge over the competition.