Not just the people but marketers are suffering a lot too because of the COVID-19 pandemic. Offline businesses are facing a downfall, but thanks to social media platforms that have always been ready with a helping hand.
Same is the case right now, social media platforms such as Instagram, Facebook, etc. have highlighted one of the popular online trends- Social Commerce, which is more than just a buzzword.
With more people spending time online to find products and services as per their needs, e-Commerce businesses can improve the targeting of their ads by showing the most relevant products to the customers.
If you see it’s history, the concept of Social Commerce has been into existence for around some time now. Initially, Facebook was said to be the one-stop destination for Social Commerce.
But with time, other platforms, especially Instagram became the hotspot for online shopping. If simply put, social media platforms have brought the point of inspiration and point of sales altogether.
In this blog, you will get to know about how social commerce is becoming a gold-mine for e-Commerce brands.
But before that, you must know the basics!
What Is Social Commerce?
The social commerce definition explains it as the integration of social media platforms and commerce elements to deliver a more personalized, interactive, and unique shopping experience that helps brands to grow sales and build brand trust.
Over the years, social media platforms have evolved into a creatively unique shopping venue for customers.
The buying and selling directly through social media platforms has brought back the charm of shopping which the traditional e-Commerce took away.
But with the introduction of Social Commerce, almost every e-Commerce brand has again started drooling over the concept of shopping.
This trend has improved the customer experience by making their buying journey easier and convenient. How?
Well, as consumers you just have to tap on the ‘Buy Now’ button on social media sites like Instagram, Facebook, etc, and you are done with shopping. How simple is that, isn’t it?
How Social Commerce is a Gold Mine for e-Commerce?
We all are familiar with the tiring and complex e-Commerce purchase journey including multiple steps.
But with the encounter of Social Commerce, customers have started relying on the effective one-click buy now button on popular social media networks.
Basically the motive behind implementing Social Commerce is to make it easier for customers to complete their purchases.
Therefore making the buy button available online eventually boosts the sales of e-commerce brands.
People spend so many hours on social media browsing different products and asking for recommendations, which is why online shopping and social media is considered to be a natural fit.
A shift has already been taking in customer behavior, especially Gen Z, who is said to be the prime target audience in the eCommerce future.
And as far as the future is concerned, more and more e-Commerce brands will soon indulge in Social Commerce to generate revenue, boost sales & conversion rates, increase traffic, improve brand awareness, and so on.
Benefits of Social Commerce for E-Commerce Brands
E-commerce brands can take advantage of social media platforms not just to sell products but to also connect with their customers.
We have curated a list of benefits that comes with Social Commerce. So, without any more wait, jump into it.
#1 Fabricate Deeper Trust
People trust people when it comes to e-Commerce.
Satisfied customers leave positive reviews about your brand, and after reading these reviews, your new customers are more likely to trust your brand.
Along with that, brands win the loyalty of their satisfied customers by building healthy relationships with their customers
So, if you have a lot of good reviews and comments about your business on your social media page, potential customers are more likely to trust you and buy your products.
#2 Amplify Authentic Engagement
Opening the doors for two-way communication between brands and consumers, Social Commerce drives authentic engagement by providing options such as liking, commenting, tagging, and sharing with your followers.
This way, brands can interact with their potential customers to make a more personal connection.
For instance, user-generated content showcased by several brands on social media platforms is a great way to engage customers.
#3 Happy & Satisfied Customers
Do you get honest opinions about a product from your friends before you buy it?
All thanks to social commerce for letting customers know about the product in ways like Reviews, Opinions, etc. that has already been posted on social media by the previous customers.
Social media reviews significantly reduce the chances of customers returning the products they buy from an e-commerce brand.
#4 Enhance Customer Experience
Social Commerce has made shopping seamless by greatly enhancing the customer experience.
All this is because of the frictionless purchase option i.e. ‘Buy Now’ offered by social media networks like Facebook, Pinterest, etc.
#5 Make More Sales
The best and the most powerful benefit of social eCommerce is that it directly helps you generate more sales and increase your ecommerce conversion rate.
When you turn your media posts on social platforms or websites into Shoppable media using the social commerce platform, you allow users to turn their point of interest into a point of purchase.
This intrigues the users to get inspired from the media content, generate interest in products, and buy them in real time. This also helps in better conversion rate and less cart abandonment.
With all the aforementioned benefits, Social Commerce trend is something that every e-Commerce business must watch out for in 2020 and beyond.
The world is currently going through a hard time, but sooner or later things will fall into place.
Till then we have to stay stronger and just remember that we all are in this together.