How Can Social Commerce Help Your Business
August 17, 2018
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But, because of its very nature, social media is an ever changing environment. Businesses need to follow trends closely to make the most of their presence on the platforms and increase their reach.
Social commerce, on the other hand, despite being a relatively new phenomenon, has strong potential to rise above fleeting trends and become a permanent fixture on the social media landscape.
What Is Social Commerce
According to BusinessDictionary, social commerce is “a form of electronic commerce which uses social networks to assist in the buying of selling of products.”
In marketing theory, social commerce is a very small step to complete the circle of social advertising. Besides raising awareness and creating desire, your social media ad or post becomes a point of purchase, facilitating sales in practice.
But just like Neil Armstrong’s famous quote about his small step on the moon, social commerce is rather like a giant leap for customers and businesses alike.
The Smoothest Online Shopping Experience
Social commerce provides customers with the option of buying the products they encounter with the least amount of effort.
It’s the exact same thing as spotting a beautiful dress in a shop window, then walking into the store and buying it. Except via social commerce, shoppers can commit to the purchase faster and won’t need to lift a finger to get the deal done.
No wonder that shoppers are all over it: despite its recent introduction, 30% of consumers are already considering to try it in the near future.
Why Try It
Social commerce is beneficial for businesses as well. According to a study published in Adweek, social commerce brought in around $6.5 billion revenue for the top 500 retailers last year. This alone should is enough incentive enough to give it a try.
But social commerce can do a lot for mostly brick-and-mortar businesses as well. Since customers have a wide access to information on the internet, most of them prefer to do a little research before walking into an actual shop and buying the product they have in mind.
Providing potential customers with information about your products and current sales will definitely boost their awareness of your business and increase the amount of traffic to your brick-and-mortar store.
How Does Social Commerce Work
There are several options you can try if you want to experiment with social commerce.
You can embed a “buy” button on your social media ads or posts, which will take viewers to your store’s ecommerce site and get the sale done.
Another option is introducing shoppable posts to your social media profile. If viewers are interested in your product, they can swipe the post upwards and land on the shopping page within the social platform itself.
This creates an even smoother shopping experience, because your customers won’t have to leave the social media site they were browsing.
In addition, there are various third party apps that enable social commerce. Soldsie, for example, allows its customers to buy products from social media sites by commenting “sold” on the post they’re interested in. Soldsie takes care of the rest.
This is the easiest way to shop; one small comment and the deal is done.
Which Platforms to Use
Most major social media platforms, including Facebook, Snapchat, Instagram, and Pinterest offer social commerce options to businesses.
Choose the platform your target market prefers, and incorporate social commerce options into your posts or paid ads. Remember to use analytics to measure your success and modify your campaigns according to results.
Social commerce combines efficiency and convenience with speedy transactions. In the world of global payments, it’s Veem that does that.
Veem allows you to send and request fast and secure global payments with just a click. You can track all your transactions and enjoy personalized services.
Sign up for a Veem account and enter the future of payments.