Social commerce is blurring the lines between social media browsing and buying. We discuss this growing trend and how businesses can incorporate social commerce into their business strategies.
Electronic (e-)commerce has been evolving at a rapid pace, as consumers embraced the convenience of online shopping. However, now, social media platforms are blurring the lines between browsing and buying, resulting in the exciting world of social commerce.
Social commerce, a fusion of social media and e-commerce, has emerged as a powerful force reshaping the way businesses connect with consumers and drive sales. In this article, we explore what social commerce is, how it differs from traditional e-commerce, and how businesses can leverage it to enhance their strategies.
Understanding social commerce
Social commerce refers to the use of social media platforms to facilitate the buying and selling of products and services. Unlike traditional e-commerce platforms where transactions take place on a dedicated website or app, social commerce integrates purchasing directly within the social media experience.
For example, imagine seeing a pair of shoes in your Instagram feed, clicking “buy now,” and checking out within the app itself. Social commerce thus capitalises on the inherently social nature of platforms, such as Facebook, Instagram, and Pinterest, whilst also streamlining the entire shopping journey – from discovery and research, to purchase – all within the familiar and engaging environment of the social media application.
So how is social commerce different from e-commerce?
While both social commerce and e-commerce involve online transactions, they differ significantly in terms of user experience, discoverability, and engagement:
- User Experience: Social commerce offers a seamless shopping experience within the familiar environment of social media platforms. Users can browse products, read reviews, and make purchases without interrupting their social interactions.
- Discoverability: Social commerce leverages the power of social networks to amplify product discovery. Through targeted ads, influencer collaborations, and user-generated content, businesses can reach a broader audience and drive engagement.
- Engagement: Social commerce encourages active engagement between brands and consumers. Users can ask questions, seek recommendations, and share their purchases with friends, fostering a sense of community and trust.
This community aspect of social media should not be underestimated, as often, it is what keeps us visiting the platforms: scrolling through our feeds, engaging with posts, and leading us to discover new products and ultimately, making a purchase. Hence, e-commerce websites are great for showcasing products, but social media allows for a more interactive experience.
How can social commerce be integrated into your business strategy?
To harness the potential of social commerce, it is critical to create more interactive experiences, such as through:
- Influencer marketing, by partnering with social media personalities, influencers and micro-influencers to promote your products to their followers thus increasing brand visibility and credibility.
- Live shopping events, where you can demonstrate your products, answer questions, and offer exclusive deals.
- Leveraging reviews, ratings, and user-generated content to build trust and encourage purchases.
- Fostering conversations with your audience, answering questions, and building brand loyalty.
However, to maximise the benefits that can be realised from social commerce, the following groundwork is essential:
- Optimise your social profiles to ensure they are e-commerce-ready. Additionally, product catalogues, shoppable posts, and clear call-to-action buttons should be included to streamline the purchasing process.
- Create compelling, high-quality content that resonates with your target audience. Captivating visuals, videos, and stories to showcase your products and tell your brand’s story could be developed.
- Run engaging campaigns using social media features like stories, polls, and contests, for example, and even influencer marketing and live shopping events, to drive engagement and sales.
- Offer exclusive deals, discounts and promotions that are only available only through your social channels. Limited-time offers and flash sales can also create a sense of urgency and drive sales conversions.
- Listening and engagement are a crucial part of the user experience. Hence monitoring social media conversations about your brand and products, responding promptly to inquiries, addressing customer concerns, and cultivating a positive relationship with your audience all help to strengthen the brand in the eyes of consumers.
The future of shopping is social
Social commerce is rapidly transforming the retail landscape. Connecting with consumers to drive sales, instead of just focusing on the products, is creating a paradigm shift in e-commerce. However, we still seem to be in the early stages of this trend, which shows little sign of burning out. Social commerce will continue to evolve, and the businesses that embrace this trend and adapt their strategies accordingly will be well-positioned to thrive in our increasingly digital marketplace.
Image credit: freepik
A very fascinating concept. But it’s a compelling concept, particularly as it represents another level of natural evolution in digital trade, similar to phenomena we have observed in the past.
I recall the initial hesitation many businesses, including those I was involved with, exhibited when online “open marketplaces” like eBay first emerged. Initially, there was considerable reluctance to sell products on these platforms. However, over time, it has become standard practice for businesses to register as full trading entities on these sites, successfully conducting sales directly through the platform.
Similarly, the advent of social commerce may currently be met with scepticism, but that would just be reminiscent of the early days of online “open marketplaces”.