Social commerce is going to be the next big thing as industry dynamics change.
Some years back, e-commerce made a successful invasion to sideline the conventional approaches which led to the era of online shopping. Now, e-commerce could be overtaken by social commerce and the landscape of online shopping get another reshaping, to add to the convenience.
With the rise of social media platforms, this can be used for anything including business. Now social media can be said as a synonym for internet with many of us spending a significant amount of time, there.
What is Social Commerce?
Not much an unexplored term, and several of us have crossed this new trend at a certain point in life. Social commerce happens to be a method to promote, create a brand name and also sell the products by brands through social media. This denotes, buying and selling of products through social media platforms like Facebook, Twitter, and Pinterest instead of visiting a company’s website.
Why use Social commerce?
The online world of social media comes next to the physical world of connections in this universe. Not including aliens though. More and more people are engaging themselves in the world of social media. It could our work related involvement or just chilling through discussions and debates on the various matter, social media consumes much of our time. This makes an avenue for businesses to attract a huge audience through personal or sponsored advertisers.
Use of Social Commerce
With the right strategy, your company can reach out to a bazillion of users with their products globally and in no time. There is no need to share your company’s website on Facebook, but tell the users to check the products while they are scrolling through the pages.
Advantages of integration of social commerce into your business strategy
Where social commerce stands in current scenario?
Though Social Commerce is revolutionary yet hasn't hit the trend. This happens to be a long and continuous process and a new approach, to materialize over the time. An analysis by Gartner found, approximately 66% of 424 brands to have adopted social commerce features in last year.
Another market survey by Marketing Week reveals that 56% of people like to see brands and products through social media. Another study says that 35% decides about brands through social media advertises or references.
The real question is, whether people buying products through social media?
Well, to that the reply is, it is in gradual rise as per recent study. The study reveals that Social Commerce is growing as an emerging trend. According to a survey, it was found that 33% of the young audience between the age group of 18-24 has shown their inclination towards making a purchase on Facebook, whereas 27% opts for Instagram and 20% chooses Twitter.
With a mixed response, it becomes hard to interpret whether social commerce is happening to be an upcoming trend or just an innovative way of product selling.
The social commerce appears to be innovative to reshape the market dynamics and add changes. With more people getting into social media, this is the right time for businesses to intake the trend. All that depends on is trust and authenticity.
The users will be overly critical on pressing Facebook's "buy button". But, nobody can deny the fact that, today social media is the best mode to reach out to huge and potential users and enhance your business within a short span.
All you must understand is your targeted audience know their wants and find an authentic way to convince them about you and your business on social media. You have to make your presence felt continuously through business chats or announcements. It might be a slow start but, with time gradually you can see an exponential growth.
Can you ignore the presence of small businesses that run on Instagram? NO, you cannot. They tend to make more profit that you can expect. But with the right pitch, they are doing it.
So what's next? Are you thinking about integrating social media in your business strategy? Let us know in the comment section below. And if you are already into Social Commerce, as business or user, share your experience with the readers.
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