Everyone knows the impact COVID-19 has had on consumers buying behaviours. We were suddenly unable to shop in person freely and ended up rushing online to get our fix. In July 2020, ecommerce websites collectively saw a record breaking 22 billion monthly visits.
The social media giants (Facebook, Instagram and TikTok) saw an opportunity to capitalise on this change in consumer buying behaviours. They rolled out 'social shopping' to help businesses sell more items directly from their social media pages. It's not just businesses that benefit, influencers are now selling more on social media.
As social media networks continue to expand in-platform shopping tools it is clear it is the future of shopping. We believe their is still a place for brick-and-mortar shopping but as we all spend more of our lives online, our shopping habits are bound to change. According to Accenture by the year 2025 social commerce is estimated to become a $1.2 trillion global market, accounting for 16.7% of total e-commerce spend.
These numbers speak for themselves, social shopping is here to stay.
Incase you still need convincing on the potential success social shopping could have for your business here are a few key benefits that may help persuade you:
By 2025 Statista expect there to be 4.4 billion social media users globally. With social media shopping becoming more popular there is a huge potential for you to get your products out to new faces and grow your audience. The key is to gain the attention of people (this is where marketing comes in!) and to make the experience as seamless as possible with little to no disruptions. Customers move quickly and have no time to mess about or be held up so keep it simple.
Enhance Presence and Brand Awareness
Instead of keeping your social media and ecommerce site separate, social commerce allows for the power to merge the two. We would never suggest not having an ecommerce store after all what would happen if social media disappeared tomorrow? What we are suggesting is having consistent branding across your social shopping store and your website. This allows you to create stronger brand awareness and stay in the minds of your customers for longer.
One main way to build brand awareness is through influencer marketing. Though you may have dreamed of having big A-list stars promoting your business, social media influencers have taken on a new presence in this day and age and can prove to be as successful as they resonate with your customers.
Reaching Your Target Audience
Social commerce allows you to meet customers where they are already spending time. If you are actively sharing content that resonates with them and engages them, they are more likely to trust business and purchase within the app. If you have a strong marketing strategy that is consistently executed and it reaches your target audience, you have a higher chance of seeing sales growth.
With new buying features constantly being created on social media such as ' buy now' buttons and in-app checkout, social commerce is removing steps within the buying process. The more steps there are to the end sale the greater the risk that customers may lose interest and look else where. A seamless buying process helps minimise the risk of customers leaving which ultimately increases sales.
It's time to embrace the future
Social shopping is more than just joining a platform and selling. Social media is all about connecting and engaging with your audience. If you want them to buy, they need to trust your business and it needs to be easy for them to do so.
You need to be obsessed with your customer and how they shop. Although you have no control over how the social shopping platform is built, do what you can to eliminate any unnecessary steps and make the space recognisable by adding in your own branding. Remember optimising your customers experience is the key to your businesses success online and in-person.
If you don't want to go on this journey alone, get in touch with a member of our team here at Sophie Jones Social.