There’s a lot of buzz and conversation around how to best derive value from social media. With social commerce, brands can create significant and measurable return on investment from their customers’ social engagement. To put it simply, social commerce is an online marketing model that helps brands drive new sales directly from social media. To help you understand and advocate for a social commerce solution at your company, here are a few statistics and talking points from industry experts to help you make your case.
Why is Social Commerce so valuable?
Here are three key trends that make the case for social commerce:
1. Prospective Customers Are on Social
Previous generations consumed advertising through traditional marketing channels-- mainly print and television. As of 2014, 74% of online adults use social networking sites. This is a massive pool of prospective customers that your brand should be directly targeting and engaging with through social media platforms. The best way to access your customers is through the platforms they trust and are already active on.
2. Social Media is the Next Word of Mouth
Facilitate social listening and conversation. Track your brand message and discover brand influencers who are already advocating for your products. Through social listening, you can research your market and initiate conversations leading to a sale. Furthermore, you can identify and reward the customers who contribute and are sharing positive content about your brand.
3. Social Commerce Shortens the Path to Purchase
Instead of trying to get consumers to leave their social media habitat to come to your ecommerce site-- bring your site to them. Functional storefronts inside social networks make it easy to convert browsers into buyers. Customers can organically discover new products and are just a tap away from purchasing.
Social commerce makes it easier for brands to connect social media engagement with ecommerce sales. By incorporating social commerce into your social media marketing mix, your brand will be able to drive sales through social and generate a concrete social ROI from your efforts.