Social Commerce: What Is It and Its Benefits?
For online business owners, whether established or aspiring, staying abreast of e-commerce trends isn’t an option. It is a requirement to remain relevant in this rapidly evolving market.
Not convinced? Recent statistics point to a substantial surge in online sales, with a nearly 20% increase in 2020 alone, reflecting a growing consumer preference for online shopping.
Now, if you’ve been keeping tabs on trends in e-commerce, one of the key trends you must have bumped into is social commerce. In this guide, we explain what social commerce is and the benefits of social commerce. Keep reading!
What is Social Commerce?
Simply put, social commerce can be defined as a segment of e-commerce where merchants directly sell products via social media platforms. Essentially, it bridges the gap between social interactions and shopping.
This way, it allows users to engage with brands, explore products, and make purchases right on the platform. As a customer, you won’t need to leave the platform to complete a purchase.
And it differs from traditional social media marketing in that it offers a seamless checkout process right on the social platform itself. Imagine scrolling through your favourite social media app and stumbling upon a post showcasing a trendy outfit.
With social commerce, you can not only like and comment. You can also tap on the item to get more details and even purchase it immediately.
This convenient integration of shopping within the social experience is transforming how businesses connect with consumers while still making real cash.
For instance, Instagram’s ‘Shoppable Posts’ feature enables businesses to tag their products in posts and stories. Users can then tap on these tags to view product details.
If interested, they can proceed to purchase, all without leaving the app. For brands, this does not only enhance the shopping experience. It also encourages impulse buying.
What Are the Benefits of Social Commerce for Businesses?
To begin with, for consumers, the key benefit of social commerce is the seamless integration of shopping into your social media experience. It eliminates the need for you to switch between apps and benefits, meaning that you can discover, explore, and purchase products directly within your favourite social platform.
For businesses, it goes beyond this streamlined buying process. Here are six ways your business can benefit from social commerce;
- Audience Growth
- SEO and Sales Creation
- Brand Loyalty
Clever Customer Insights
Valuable customer insights are one of the key benefits of social commerce for businesses. Thanks to these platforms, you gain valuable data on reach, impressions, and engagement.
This intel guides you to the most effective channels for your company. It’s akin to finding the best fishing spot.
Utilize these insights not only for marketing but also for inventory management. Identify high-engagement products and adjust your stock to meet demand.
An Almost Uninterrupted Audience Growth
With an expanding array of social platforms, social commerce presents businesses with ample opportunities to engage wider demographics. In contrast to traditional e-commerce, where acquiring new customers is becoming costlier, social commerce offers a cost-effective strategy.
It allows you to integrate products seamlessly into platforms where users spend the most time. As a business, you can now efficiently convert interest into sales.
To resonate with your target audience, optimize your presence consistently. Also, tailor your content and leverage analytics to refine your strategies.
Improved SEO and Sales Creation
SEO, or simply Search Engine Optimization, is the practice of enhancing a website’s visibility on search engines like Google. It involves various strategies to ensure your site ranks higher in search results.
Improved SEO is a significant advantage of social commerce. When your brand garners attention on social platforms, it gains credibility with search engines.
To apply this benefit to your business, it is best to maintain an active and engaging presence on social platforms. Aim always to share quality content, interact with your audience, and add clear call-to-actions for purchasing.
Today’s customers seek brands that resonate with their values. And for many of them, it doesn’t even matter if it means paying a bit more.
71% prefer companies aligned with their principles. To foster this loyalty, maintain a unique brand voice and engage consistently on social platforms.
This will not only strengthen loyalty. It will also amplify other social commerce benefits like heightened engagement and increased order value. So, strive for a seamless user experience across all channels to ensure continuity in customer satisfaction.
That’s a Wrap!
Social commerce is reshaping how businesses engage and relate with customers. Don’t be left behind. Harness the power of social media platforms to forge deeper connections with your client base, streamline purchasing processes and boost sales! Start today.