Social media has become a space for immense potential. It offers great scope, from highlighting your offerings to getting potential customers, engaging with your audience, and networking – there is a lot that can be done on social media! One of the recent development is ‘social commerce’.
What is social commerce?
How would you like your customers and prospective buyers to discover your products on social media platforms like Facebook and Instagram? Image your audience finding your product and placing an order right from the social media post – this is what social commerce is all about!
Social commerce is a type of e-commerce where businesses sell their products to customers, directly through social media platforms. This allows potential customers to not just purchase, but also interact with your brand. The e-commerce space has faced steady growth since the early 2000s. Social commerce boomed during the Covid-19 pandemic and is only expected to grow exponentially.
E-commerce and social commerce are related concepts. While e-commerce involves a transaction between a buyer and a seller, over a website or a mobile app, social commerce refers to buying and selling goods and services through social media platforms.
Some of the leading social commerce platforms are Instagram, Facebook, TikTok, and Pinterest.
Social media marketing vs. social commerce
Social media marketing and social commerce are related concepts but have some fundamental differences.
Social media marketing is the use of social media platforms to promote a brand, product, or service. The goal of social media marketing is to increase brand awareness, engagement, and sales. Social media marketing involves creating and sharing content on social media platforms, such as Facebook, Twitter, Instagram, LinkedIn, etc. to build a brand’s presence and interact with its audience.
Social commerce is the integration of e-commerce and social media platforms. Social commerce allows consumers to buy products directly on social media platforms, without having to leave the platform to visit a separate e-commerce website. It includes features such as buy buttons, product tags, and in-app checkout, which enable consumers to purchase products without ever leaving the social media platform.
While social media marketing is about promoting a brand and building an audience on social media, social commerce is about enabling consumers to purchase products directly from social media platforms.
Benefits of social commerce
Social commerce can offer you great benefits like:
- Increased customer reach: Social commerce enables you to reach a wider audience by leveraging the different social media platforms where your customers and prospects spend a significant amount of time.
- Enhanced customer engagement: Social media platforms provide a two-way communication channel between businesses and customers, allowing for personalized and real-time interactions that can increase engagement and brand loyalty.
- Improved customer insights: Social commerce can provide valuable insights into customer behavior, preferences, and opinions through social listening and analytics tools.
- Increased conversions: Social commerce can drive more conversions by offering a seamless shopping experience within the social media platform, eliminating the need for customers to leave the platform to complete a purchase.
- Cost-effective: Social commerce can be a cost-effective way for you to promote and sell your products or services, as social media platforms offer a range of free and low-cost marketing tools. This makes it effective even for small businesses.
- Increased brand awareness: Social commerce can help businesses build brand awareness by leveraging social media platforms to promote products, services, and brand messaging to a wider audience.
- Access to user-generated content: Social commerce can facilitate the creation and sharing of user-generated content, such as customer reviews and product photos, which can help build trust and credibility for a brand.
Social media has come a long way and has opened new doors for its users. Social commerce is a new and promising concept. It is accessible by all brands, irrespective of their size. Successful social commerce is one that meets your customers wherever they are located and gives them an unforgettable experience!
MicroSolutions for your social commerce
Are you looking to get started on your social commerce journey? MicroSolutions has got you covered! Here is how our social commerce process works:
- Choosing the right social media platform: Based on your line of business, we will help you identify the best social media platform, by looking at platforms where your target audience is active.
- Setting up your social media profiles: Creating your account on the social media platform involves ensuring that your profile looks complete and reflects your brand.
- Adding social commerce features: By incorporating features like buy buttons, product tags, and in-app checkout, your social media profile will turn into a social commerce platform that allows easy purchases.
- Creating content: Creating compelling content to highlight your products helps your brand reach a wider audience. The kind of content varies from text-based images, videos, product images, reviews, and more.
- Engaging your audience: Using your social commerce platform to engage with your audience (like responding to comments, creating polls, and encouraging other forms of audience interaction).
Get in touch with us to know more about social commerce and to convert your social media profile into a social commerce platform!