Even though “social commerce” sounds self-explanatory, there is more to the term. In simple words, social commerce refers to the selling and buying process that takes over social media platforms and apps.
It is an umbrella term which houses many different models, such as video commerce, referral program and reselling.
In the past few years, social commerce has become standard across the globe due to changes in consumer behavior. During the pandemic, many customers shifted to online modes of shopping, and this trend is still going strong. Hence, social commerce is highly vital to the growth of a business.
The Benefits Of Social Commerce
First and foremost, social commerce ensures consistent audience growth. Also, many businesses have seen a direct link between social commerce growth and website traffic. Furthermore, with the increase in traffic, the website’s search engine ranking improves, attracting more customers.
The third benefit of social commerce includes authentic traffic and engagement. In addition to sharing social posts, businesses can use the messaging features to float feedback forms similar to McDVoice, not only to gain the customers’ trust but to improve the business further. Other benefits of social commerce include customer loyalty, improved customer insights and precise audience targeting.
Removes Friction In The Customer Journey
Social commerce includes shops on social media platforms, which removes the friction in the consumer journey. Additionally, it makes it easier for the customer to discover new purchases.
With every tap or click of a button, the customer can change their mind, which can ultimately lower a company’s revenue. However, in social commerce, the purchasing process is less time-consuming than the traditional method, making it easier for the company to fight cart abandonment.
Removing friction through social commerce is similar to having few questions in the feedback forms. For example, the survey questions of TellTheBell are short and crisp to make it easier for the customers to fill in the form. If the feedback form were any longer, many customers would have opted out of filling it. The same logic applies to social commerce.
Now that we know the benefits of social commerce, let us look at a few ways companies can use it to grow their businesses.
1. Create Social Media Promotion Strategy
Social commerce does not work with random social posts about the products and services of a business. Therefore, it is crucial to have a proper social media strategy to reap the benefits of social commerce. Businesses can start with a social media calendar to plan the different activities on the platform.
Again, one should focus on having a mixed bag of social media promotion activities like advertising and influencer marketing. The marketing team can also automate the social media content to reduce the manual work.
2. Use Social Media Analytics
Paying attention to social media analytics while engaging in social commerce is essential. Only through the correct data can a brand increase its revenue. Also, social media analytics bring in the necessary insights, which helps create a proper marketing strategy that brings a high return on investment.
There are different analytics tools available in the market which can help the brand to analyze social media analytics.
3. Engage With The Followers
The brands must enhance the social commerce experience for the customers. One of the easiest ways to bring a joyful customer experience is by engaging with the followers. Therefore, more than simply pushing out content on the social media platform is required. After posting the content on social media platforms, the brand should proactively engage with its followers.
4. Monitor The Competitors
While using social commerce, it is vital to monitor the competitors like any other business strategy. One should monitor the activities of the competitors on the social media platform and use any impressive strategy to boost their social commerce efforts. Tracking the competition allows one to stay ahead of competitors through strategic planning.
5. Create Shoppable Posts
Businesses should use shoppable posts to simplify the shopping process in social commerce. When a post is shoppable, it becomes easier for the customers to purchase the products and services of a company. Simply tagging the products on the Instagram post can make a particular post on Instagram shoppable.
Investing in social commerce is a must to create a solid link with customers. With the rising popularity of social media platforms, ignoring social commerce is a big no. However, at the same time, a proper strategy should be in place to ensure that social commerce can grow the business.
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