Social Commerce: Markets of 2021
[Approximate Reading Time: 4 mins]
There is so much happening every minute on social media platforms—news feeds, stories, updates, launches, endorsements, advertisements, and whatnot. Social media marketing is an old subject; now the next trend is here: social media commerce. The busy and chaotic social media platforms have gotten a
new update as shopping sites.
Why social commerce?
Social media is always a good place to introduce products and services. After the COVID-19 pandemic hit, social media was abuzz with users trying to catch up on socializing. The COVID-19 pandemic and the resulting precautionary measures got people used to online shopping at a fast pace, and many are comfortable with the new normal now.
Social commerce does nothing except reduce friction in customer conversion. Let’s say a person reads about a product that your brand is selling or sees a social media celebrity using it. They leave the site to know more about the product or purchase it by searching the brand name. In-app shopping by Facebook, Instagram, or Pinterest allows the person to go directly to the product page without leaving the platform.
By allowing users to shop directly, brands can see a lesser number of carts abandoned. The shoppable Facebook and Instagram pages have been received well by the community. Retail, beauty brands, and clothing stores were quick to adopt the new market. Global brands must follow suit. Brands already have an online presence in all popular online destinations for marketing and corporate communications to connect with their intended target customers. Social commerce is just one more step in providing customers a seamless shopping experience.
Experience and insights :
Online shops can have customized storefronts, and chatbots enhance the experience by giving the shops a personal touch. Providing support through WhatsApp, Messenger, or Instagram is also possible. Snapchat has an augmented reality feature that allows users to try on products they are interested in. The shops have in-built analytics that help in monitoring the reach of a product. The number of views and click through rates are reflective of customers’ interactions with the brand’s products and can provide insights on what needs improvement.
This brings us to the next strategy in selling products: influencers. Collaborating with influencers in the field who already have a strong following will improve the brand’s reach and image. Finding the right influencer who might not be very famous but can connect to a niche audience can substantially boost sales. Clickable tags that direct to the product page can be added in their stories and updates and result in the products being purchased then and there. The affiliation helps with brand awareness and visibility. It also encourages word-of-mouth recommendation of the brand.
Social commerce can not only turn marketing content into actual selling points but also be incorporated into corporate communication strategies, so the readers can choose to buy the products that interest them on the spot.
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