We have been witnessing the trending of online shopping going social over the last few years. Social commerce features have been emerging across different types of platforms, which has presented new opportunities for both large and small-scale businesses. The strain that was put on brick and mortar businesses due to the Covid19 pandemic was a major reason that urged several businesses to consider digital transformation.
It might surprise several readers when they realize that social commerce has evolved into a 89.4 billion dollar market. In fact, it is estimated to hit the 604.5 billion dollar mark in the upcoming 7 years. If you are running a business that has something to sell, then you should consider taking advantage of the growing social commerce market.
A Beginner’s Guide To Social Commerce
In simple words, social commerce can be defined as the process of directly selling and buying goods or services through a social media platform like Facebook or Instagram. The traditional role of social media platforms was limited to entertaining users and allowing them to connect with friends, family, and others.
However, social media platforms do a lot more than that these days thanks to the growing popularity of social commerce. The social commerce model has started to encourage social media users to entirely complete the shopping process without the need to exit their preferred apps and move to a new one.
Several experts in the field of ecommerce have already admitted the fact that social media commerce has been driving an increasing portion of the marketing-driven revenue of their company. Several businesses stated that they hope to sell more services and products through social media platforms in the next 3 years or so.
Another interesting thing to note is that social media platforms that include Pinterest, Instagram, and Facebook decided to revamp social media commerce tools in 2020. The revamping of social commercial tools was done to help businesses and retailers streaming internet shopping experience during the pandemic. The features available with the platforms results in the creation of new digital storefronts, which can be either organically found or boosted through paid promotions and advertising.
The Difference Between Ecommerce And Social Commerce
Ecommerce can be defined as a term, which broadly eccompasses the process of selling and buying products over the internet. There is no denying the fact that the ecommerce model is very convenient. However, it is important to note that it is not really perfect.
A recent study revealed that more than percent of the total internet traffic is through smartphones and other mobile devices. The study also pointed out that cart abandonment rate was comparatively higher in mobile internet users. It is evident that more and more customers are moving to mobile devices while online shopping, which is why it is critical for businesses to streamline their checkout process.
This is where social commerce can do wonders for ecommerce businesses. Social commerce effectively removes the drop-off points, which may prompt users to leave the card or abandon the transactions. In short, leveraging the power of social commerce can help your business to boost revenue to generate more leads.
Benefits Of Social Commerce
Several ecommerce businesses, especially small and medium ones are a bit hesitant to make use of social commerce. This is because they are unaware of the number of benefits social commerce can bring to your business.
Reach More Potential Customers
The percentage of people who shop online has considerably increased over the last few years. In fact, a recent survey stated that the shopping behavior of several customers has considerably changed since the Covid19 pandemic. A number of customers have also switched brand preferences for suiting their online shopping habits.
You will get just one chance to leave a lasting impression on internet users. This is why it is crucial to offer a fine and simple buying experience to customers. Social commerce features will help you to create an engaging and winning experience that most customers would want to repeat.
Convert More Customers
It is true that the number of social media users have significantly increased over the last few years. In addition to that, several social media users have admitted that they are spending more time on social commerce platforms. Several experts believe that there will be a constant increase in the number of social media users in the coming years.
A major percent of your existing and potential customers will be on social media platforms. So, businesses should focus more on increasing engagement on social media platforms if they do not want to lose customers.
Social commerce features present a simple and effective way for customers to know more about your products and services. Moreover, it removes a step from the online buying process, which will help you reduce the friction in the sales funnel of your social commerce business in UAE or Dubai.
More Reviews And Recommendations
Businesses that are new to the world of selling products and services online often fail to realize that social media platforms are the best place where they can start. Selling through social media platforms also help you to get the much needed proof or genuinity for your ecommerce business.
Buyers will not just be purchasing and checking out your products, but they will also leave reviews. These reviews can help other online shoppers to decide whether to buy your products or not.
The content that you post on your social media account might attract new customers to your offerings, which will help increase the engagement. As a result, social media algorithms may deem that your content is relevant to more potential customers of social commerce companies.
Get Useful Insight On The Social Habits Of Customers
One of the fascinating aspects of social commerce features is that it offers businesses direct access to the social profiles of their customers. Sellers and retailers can use these valuable insights to better market their products and services.
It will also help them to offer a personalized and unique experience to your existing customers. You will be able to come up with better online conversion experiments, which are sure to bring satisfactory results through thorough analysis of the gathered insights.
If your requirements are not addressed in the above please do tell us more about your project. It is likely that we will be able to address your needs.