Why E-Commerce Companies Should Capitalize on Social Media
When something becomes big and profitable, and the industry notices a trend, it gets named. E-commerce blended with social media is now referred to as “social commerce.” It is essentially selling your company’s products or services on social media. Let’s take a look at a few reasons why ecommerce companies should capitalize on social media and what that might look like.
Powerful Profits
According to Statista, global social commerce revenue has increased from $5 billion in 2011 to $30 billion in 2015, and it continues to grow. BI Intelligence’s 2015 Social Commerce Report says, “Social-driven retail sales and referral traffic are rising at a faster pace than all other online channels.” Businesses are able to reach a vast audience through social media. Integrating sales into their posts create a boost in revenue, especially if other people are talking about it online.
Bottom line: if you want to sell more products, social media may be the key to a bigger bottom line.
Peer/Influencer Recognition
The social nature of social media lends itself quite well to selling. People buy products from people they trust and like. Brands can partner or collaborate with influencers to sell products. For example, a notable technology guru on Instagram can share a post of herself with a branded laptop. Include a link to buy in the description and followers of that influencer will click on hyperlink and make a purchase.
Additionally, social media is an ideal opportunity to leverage the power of peers. We’re much more likely to buy something if someone we know recommends it. Referral and reward programs, like the ones with ThriveMarket.com and StitchFix.com, work well to increase social buying.
Clickable Posts
In 2014, Facebook announced a “New Way for People to Discover and Buy Products on Facebook” with the introduction of their first call-to-action button. This gives brands the power to sell, promote, and share their products on social, and followers and consumers can click and buy. Social simply makes it easier for the consumer to buy. You see something on Pinterest and you want it, you click and buy. See something on Instagram that a friend recommends, you click and buy. It’s private (from the comfort of your home) and social because you’re online with millions. Brands get exposure to a large buying audience, and consumers can pick and choose the brands they follow. It’s really a win-win for both.
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