Social Commerce: One of the latest buzzwords in the digital world where social media meets online shopping! Many experts claim that it will transform the eCommerce industry as we know it today and I don’t dare to argue with that statement, considering the latest statistics:
- There are around 1.47 billion daily active users on Facebook
- Instagram has reached 1 billion monthly active users as of 2018
Further predictions state that there will be approximately 3 billion global social network users by 2021!
Let’s face it, we no longer use social media with the only purpose to stay connected with our friends or family members but to stay up to date with current trends and news, to share our photos and videos AND to research and find new products.
So, considering the above-mentioned facts – WHY are we still desperately trying to lure our customers to our website? Let’s just go there where our customers already are – on social media platforms! It’s obviously so much easier to get someone to use Facebook or Instagram (remember: more than 1 billion users?!), than visit our sites.
So, what exactly is Social Commerce?
Basically, it means that you are selling your products directly through social media platforms instead of redirecting the user to your webshop. It is all about engaging your users and designing a more appealing online shopping experience.
It very much differs from social media marketing as your customer’s shopping experience remains within the social platform itself. This way you’re enabling an easier way to complete a purchase your customer desires.
Social Commerce is a huge opportunity for any retailer because:
- 84% of online shoppers review at least one social media site before purchasing a product
- 51% millennials are likely to make a purchase over social media
- 60% of Instagram users say they find new products on Instagram
So, with social media transforming from staying in touch with friends and family into an eCommerce platform on its own – let’s review the biggest social platform’s features for social commerce:
Selling on Facebook
Facebook’s “Buy Now” – button: Serves as a call-to-action (CTA) on your paid Facebook Ads or organic posts. *Note: this feature only links your customer to your website to complete the purchase.
Facebook Store: Let’s take it a step further and create an entire Facebook store front, allowing you to sell to your customers without them having to leave the platform. Interested in how to set up your own Facebook store?
Selling on Instagram
In the past you were only able to link your website in the bio or in your stories.
The new Instagram-feature however, empowers your customers to shop directly from your organic Instagram posts and stories – without actually leaving the Instagram App.
It gets even better – to set up a shoppable Instagram takes less than 10 minutes!