In 2019, only social commerce generated around 22 billion UDS, a huge revenue ever created through social media sales. It is estimated that seeing the craze of social shopping, social commerce will grow into a whopping industry with 84 billion USD sales by 2024 for U.S. eCommerce stores.
Social eCommerce is increasingly growing in popularity for online businesses and eCommerce stores, regardless of size and budget, to maximize their sales and revenue in the recent online shopping world.
From the past few years, social media channels are making huge strides in online shopping, influencing, engaging, and attracting online shoppers towards products and services, easing the online shopping experience like never before.
As social commerce is growing tremendously, every business and brand incorporate this marketing technique to grow their sales and revenue through online or social media channels.
Below, we walk you through why social ecommerce is important for businesses in this recent marketing strategy and why brands should consider using it.
How Social Commerce Increase Sales & Revenue
Customers are looking for a personalized shopping experience to make online shopping quick and effective. Social media channels have made it easy for brands to reach the targeted customers with the personalized content they are looking for on social media.
Instagram, Facebook, Pinterest, YouTube, WeChat, etc., have introduced various features and functionalities to facilitate social eCommerce for every brand and business to sell their products and services to the right audiences.
These top social commerce platforms allow brands to share content by making it shoppable for the audience interacting with the content by tagging product details and links to make direct purchases.
Social commerce platforms increase customer engagement with the brand content, simultaneously allowing them to make purchases.
This has made a tremendous increase in online sales, generating enormous revenue through social media sales for the brands and businesses.
So, How does Social Commerce Works?
Many marketers who have recently heard of social commerce usually get confused between eCommerce and social ecommerce sales.
But, eCommerce and social commerce are different from each other. ECommerce is an online selling approach where customers find products and services through websites and walk a journey, having different strategies to boost sales and revenue through online mediums.
Whereas social commerce has recently introduced a marketing strategy to expand brand social media presence and online sales using the social media platforms.
Social Commerce can be said as the mix of social media marketing and eCommerce strategy to reach the right audience, promote the brand & its products, lure attention, and grow the brand’s online sales.
Social commerce provides a platform for brands and marketers to sell their products directly on social media platforms by leveraging social proof, engagement and making the purchase process easy for the customers.
Social commerce sells directly to customers without redirecting them on social media platforms to ease the shopping journey with their brands.
Social Commerce Trends To Boost Your Brand In 2021 & Beyond
Use these tactics to enhance the social Ecommerce for your brand and make whopping sales online with the use of social media tools. These tactics will help you improve your marketing and sales at an exponential rate. So let’s delve into these marketing strategies.
Boost Customer Engagement Through Messenger
Social media is a platform where your customers connect with you directly to resolve their queries and problems. Engaging with your customers on social media platforms is a crucial part of social commerce strategy. Use automated tools to stay engaged with your customers like Chatbots. Provide your customers with an easy platform to reach your brand and ask their queries 24*7 and get instant solutions.
Merge Social Commerce With Ecommerce Website
You can create social shops on social media platforms to sell your products directly to your customers. But to leverage upselling & cross-sell marketing strategies for more sales, merging your social commerce strategy on eCommerce websites is also a great deal. For example, you can display Shoppable Social Galleries with Instagram feeds, UGC, or social media content to boost sales on online platforms.
Sell Low-Priced Products For More Sales
As most of the social media audience is millennials and the Gen Z generation, they are most likely to get attracted to the products and services that cost them low. As social media platforms are influential and their friends and celebrities’ social media posts help them drive actions, selling low-priced products through social media platforms is the right strategy for the brands to start selling on the social media platforms.
With the growing craze of social media platforms among people worldwide, it is an effective strategy for brands and marketers to include social e-commerce into their marketing strategies.
If you haven’t started leveraging social commerce strategy, begin it right away.