If you’re hoping to make it on the modern web and get your company established, understanding and appreciating the importance of social commerce is absolutely crucial to your success.
If you have only recently come across the term and want to learn more, you have come to the right place – rest assured.
What is Social Commerce?
Social commerce is a relatively new term and only goes back just over ten years. In short, social commerce is tools and products which make online shopping and e-commerce more social through the usage of social networks and user-driven content, such as Facebook videos and Snapchat stories.
Examples of social commerce can include things such as:
Social-sharing product pages on Facebook
Customer reviews and ratings as seen on Amazon
Algorithms which display tailor-made posts and special offers to customers, usually from information gathered about a user’s likes, interests and internet footprint.
Why is it Important?
Small businesses generally have a lack of awareness about the sheer power of social commerce and social media in general, in increasing sales and profits, helping retain current customers and also in reaching new customers in your target market.
In the current state of social media, the opportunities for taking advantage of social commerce are ripe for the picking. But, why? There are many reasons, but a few that stand out are –
Social Media Usage
The average social media user spends up to eleven hours per day browsing the internet and scrolling through their social feeds. That is an amazing opportunity for you to get noticed and improve your visibility; the customers are already there and using social media platforms.
Social Media Drives Sales
It is estimated that almost 50% of people research products and companies through social media before they commit to making a purchase, especially when purchasing from a smaller known business or lesser-known brand. So, a brand without a good presence on social media can potentially lose real customers who would have been persuaded by a good Facebook page.
Social Media Drives Site Traffic
Facebook reports that 6.5% of its users use links posted on Facebook walls and in Facebook groups to reach external websites. In comparing that to other conventional means of internet advertising such as banner ads, only 2% click those.
Still Not Convinced?
If you’re the kind of person to avoid all forms of social media and think it’s poisoning the minds of children, that’s fine. But, your business should not avoid it; it is a commercially lucrative move to have a presence for your company on social media.
Here are a few quick-fire facts –
Users follow brands on social media to keep up with latest information about products, provide feedback and take advantage of new promotions and discounts.
Over 99% of top brands and companies have a presence on Facebook and Twitter, with 59% on Instagram.
37% of 35-44-year olds use social media for shopping purposes.
Want to find out more? Check out our infographic below and see for yourself! Also, visit our website for more great information!