What Is Social Commerce? A Complete 2024 Guide
This blog post could be titled “What is social commerce?” but perhaps a better title would be “Do you want to make some money?”
In the next three years, it is expected that global eCommerce sales will reach $1.6 trillion, a growth of more than 100% over 2020 levels. The time is now more than ever to begin selling on social media.
Social commerce expands the audience for your brand and your customer base by bringing eCommerce businesses to social media platforms.
This information probably makes you feel like the dollar-sign-eyes-green-tongue emoji if you own a business with goods to sell.
Are you wondering how to obtain a portion of that change? We have everything covered. Go on for a 101 in social commerce.
- What is social commerce?
- Six benefits of attempting social commerce
- What are the best platforms for social commerce?
- Seven pointers and resources for social commerce success
What is social commerce?
The practice of directly selling goods and services via social media is known as social commerce.
When using social commerce, every step of the purchasing process—from finding the perfect product to checking out—takes place directly on social media.
Currently, Facebook, Instagram, Pinterest, and TikTok are the social apps with native social commerce features integrated in.
With social commerce, you could see a cute pair of clogs with a strawberry print on Instagram, click “shop now,” add them to your cart, and finish the transaction within the app.
Alternatively, while browsing TikTok, you might come across a crewneck at a reasonable price and select “Buy.” After your purchase is complete, you can watch duet videos with your favorite artist and carry on with your regular TikTok experience without missing a beat.
These are shoppable occasions that occur directly on the digital channels that your target market frequents. And you ought to be utilizing them to your advantage.
eCommerce vs. social commerce
The term eCommerce describes an online store, specialized branded app, or eCommerce website as a place to shop. By definition, social commerce enables the consumer to make a purchase while using social media. eCommerce is not social commerce.
Additionally, social selling is not social commerce. Building relationships on social media to expand your list of potential customers is known as social selling.
Six benefits of attempting social commerce
Uncertain if opening a social media store is a smart move? These are six justifications for trying social commerce.
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Social commerce transforms shopping into a communal activity
Compared to a normal eCommerce binge, shopping on social media is far more interactive.
Customers can simply ask their friends for advice when making purchases, flaunt their stylish new high tops, remark on Aunt Jackie’s latest “I Love My Niece” t-shirt, read reviews from astute shampoo buyers, and communicate with the kombucha companies they adore.
Social commerce could be the ideal substitute for people who enjoy shopping but miss the social aspect of the experience. (Although regrettably without a stop at Orange Julius.)
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Friction is eliminated by social commerce
View, click, and purchase it. Social media stores simplify the consumer journey by removing obstacles and facilitating a seamless transition from discovery to acquisition. They exist. The item is present. There’s only the checkout to go.
In the end, each mouse click represents a chance for a prospective client to reconsider. They will become disinterested quickly if they have to navigate from your advertisement to your website, add the item to their cart, and enter their credit card information.
Eliminate those pointless steps and simply bring in social shopping.
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There is substantial financial potential.
Numbers are real, just like Shakira’s hips. In the next three years, e-sales are expected to exceed $735 billion, according to research forecasts.
It makes sense to offer your products in the online areas where your target audience is already present if you want to take advantage of this trend.
81% of consumers use Facebook and Instagram to research products, and 48% of Pinterest users rank shopping as their top priority. Why not provide them with what they seek?
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Social media marketing provides a quick focus group.
Social commerce not only expedites the transaction process but also provides a fantastic means of gathering feedback.
Your product catalog is available for customers to examine and debate amongst themselves. You don’t need a crystal ball to figure out what your customers like and dislike.
While they’re there, why not ask your audience to cast a vote and provide input on decisions about product development and inventory? (How do you think my glow-in-the-dark wolf backpack design turned out? Someone? Hi there?)
You can easily identify your customers on social media and engage in follow-up conversations through direct messages or comments, giving you the ability to offer individualized customer support.
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Gen Z and Millennials prefer to shop on social media.
The 18 to 34 age group is your target demographic; they are already online and ready to browse and buy.
In 2019, 48% of this age group’s American internet users made a purchase on social media. Of that group, 27% have indicated that they would like to try their hand at social media shopping.
This is the contemporary shopping center. It’s time to start selling!
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You have access to extremely focused markets.
Social media offers an amazing amount of customer data, giving you a great opportunity to fine-tune and target your advertising.
You can advertise your horse-print bathrobes directly to the equestrians who adore flannel. Cute baby-sized sunglasses are available directly on the feeds of stylish young fathers.
In a way that traditional eCommerce and marketing cannot, social commerce offers the opportunity to get particular, ready-to-buy products in front of specific people who would love them.
What are the best platforms for social commerce?
As of right now, social platforms with social commerce features number five. However, it’s possible that more of these social media brands will incorporate “shop now” options as demand (and income) increases.
These are the social commerce platforms that are available right now.
You can showcase your adorable new logo, interact with fans, and share news on your Facebook Business Page. While you’re there, why not use it to increase sales by selling a few items? You can accomplish this by setting up a Facebook shop.
Facebook Shops offer customization options. Select which products or collections to highlight, then alter the fonts, pictures, and colors to fit your brand. You can either start from scratch or import an already-existing product catalog from your website.
You can access your Facebook Shop through your Instagram profile, Facebook Page, shoppable stories and posts, and Instagram Shopping ads.
When it comes time for conversions, your customers can choose to initiate a direct Messenger chat with your company or complete an in-app checkout. They can be directed to your website as well.
As soon as you begin selling your goods on Facebook, you should anticipate a surge in messages from clients inquiring about product specifications, shipping, and size options. Use Heyday, an AI-powered customer support chatbot, to save time and ensure that no question goes unanswered.
Heyday is a chatbot that can respond to routine, basic questions for you directly in Facebook Messenger direct messages. It can also identify questions that need more personal attention. There has never been simpler customer service.
You can set up a test shop to find out more, which is another great feature of Facebook Shops. You can manage orders, add items, and even test the user experience here.
60% of consumers use Instagram to find new products. Among them should be your merchandise.
Instagram Shops lets users purchase goods from anywhere within the app that are featured in your photos and videos.
A customised storefront page that functions as a carefully chosen assortment of goods for sale can be made using business profiles. You can create individual detail pages for each product in your Instagram Shop catalog, complete with media, price, and a thorough description.
You can use Instagram to sell products in a variety of ways. Businesses can tag their products in their posts or Stories by using shopping tags. American companies can also choose to feature products in the bios and captions of their posts.
Additionally, you can sell through the dedicated Shop tab, where customers can peruse, bookmark, and purchase goods that companies or creators have tagged.
Alternatively, you could make an advertisement and include a Shop tab. The advertisement will show up in user feeds as any other post or product listing and have a “Sponsored” label.
Additionally, Meta just unveiled a feature that allows for DM shopping. There is a constant need and advancement in capabilities.
Back in 2015, Pinterest was among the first social media sites to allow users to purchase.
However, there’s some information that you should pin immediately: social commerce isn’t the only thing Pinterest offers.
Yes, Pinterest allows business accounts to make “Product Pins” (previously Buyable Pins) that show up in the Pinterest shop for your brand. A customer can finish their purchase through a checkout process without ever leaving Pinterest if they live in the US and see a Buy button underneath a Pin.
It’s crucial to remember, though, that these cannot be bought through the app if you live outside of the US. When you click on a lovely vase on Pinterest, an eCommerce website will open in order to complete the transaction.
Is Pinterest still a useful resource for marketing your products? Yes, especially considering that 89% of Pinterest users use the site to find inspiration for their shopping.
Try these eight business strategies to get more out of your Pinterest account.
SnapChat
Snapchat announced the launch of Brand Profiles in closed beta in July 2020. A feature of the profiles? a Shopify-powered “Native Store” experience that lets customers browse and buy directly from the app.
Five officially sanctioned influencer accounts—Kylie Jenner, Kim Kardashian, Shay Mitchell, Spencer Pratt, and Bhad Bhabie—helped them launch the feature.
In the interim, a few more brands have been accepted, and it’s possible that this feature will eventually be extended to the rest of the non-Kardashian world.
Watch Kylie Cosmetics to see how she’s utilizing the “swipe up to shop” feature of the app in the interim.
Alternatively, use our Snapchat for Business strategy guide to hone your snap cred.
TikTok
In order to remain relevant to today’s consumers, retailers and creators must establish a digital storefront on TikTok. The new shopping feature on TikTok, called TikTok Shop, enables brands, merchants, and creators to display and sell goods directly on the platform.
On TikTok Shop, there are three ways to sell goods:
- videos within the feed
- LIVES tab for product showcase
The shopping experience on TikTok is authentic. The hashtag #TikTokMadeMeBuyIt, which allows users to share what they’ve purchased based on product recommendations on the platform, has been used 7 billion times.
Note: TikTok has retracted its plans to bring TikTok Shop to the North American market, although it is still accessible in the UK and Asia.
Seven pointers and resources for social commerce success
Your store is ready to go. You’re prepared to sell and driven. These essential pointers and resources will enable you to fully utilize this innovative digital marketplace.
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Use an AI chatbot to expedite sales and customer service
A prompt and courteous response to a consumer’s inquiry can mean the difference between a sale and a cart abandonment. You can ensure that your customers are taken care of 24/7/365 (i.e., even when your team is not online) by automating your customer service with the correct tools.
Engage with your clients on the platforms they prefer and turn support chats into sales by using a platform like Heyday.
Heyday is an AI chatbot designed for retailers that links your social media accounts and online store together. Up to 80% of your customer support chats can be automated with it. The chatbot helps customers in real time when they contact you on social media with questions about order tracking or inventory (and forwards more complicated queries to your support team).
By automatically notifying customers who have previously expressed interest in a product when a product comes back into stock or when its price drops, Heyday can also help you increase sales.
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Interact with your fans
You must keep the “social” aspect in mind when developing a fantastic social commerce experience.
You can’t just put your catalog away and forget about it. Respond to inquiries, provide worthwhile and engaging material, be real and personable, and so forth. Install a chatbot to assist customers in advancing through the purchasing process.
Here, you can apply the same best practices that you typically employ to interact with your following.
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Pay attentive attention strategically
You are in close proximity to your audience. Take full advantage of it.
Pay careful attention to the remarks and likes on your shop, and when required, reply or provide assistance.
Putting up social media monitoring on all of your platforms can also be a terrific way to get industry news and comments from people outside of your own circle.
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Promote reviews
93% of online buyers claim that a review has the power to make or break their choice. Whenever you have a product that people like, ask them to help promote it.
Gathering social proof is essential to establishing a good online reputation. This can be done by sending out automated follow-up emails asking for reviews after a product has been delivered or by offering prizes like contests to entice past customers to comment and share their experiences.
After you’ve received some great feedback, share it creatively on social media by posting user-generated content, doing a live video interview with satisfied clients, or just making a carousel of compliments. There are a ton of ways to accomplish this without coming across as boastful.
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Aim for your audience
Use the amazing data that social media has to offer you to market your products or shop to the appropriate audience.
Not sure exactly who your target audience is? This is how to identify and focus on your ideal client.
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Set your product prices to attract customers.
Although social commerce presents a great opportunity for a wide range of products, such as dog toys, clothing, and risqué pottery, luxury goods are usually not successful here.
Customers are less inclined to splurge on more expensive items because of the risk involved in purchasing something before seeing it.
According to Shopify’s data, a price point under $70 is ideal because it falls into the “why the heck not” zone for a lot of social media users.
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Use Hootsuite to incorporate merchandise from your Shopify store into your social media posts.
Through the Shopview app, Hootsuite users can effortlessly share products from their eCommerce sites, such as Shopify, Magento, Woocommerce, and Bigcommerce, to their social media accounts, even though they don’t strictly fall under the category of “social commerce.” It’s a simple method of using social media to improve the online shopping experience for your clients.
Naturally, social media is probably only a small part of your whole digital marketing strategy.
Explore our Social Media Advertising 101 guide to create a strong plan that engages, sells, and captivates audiences across the vast expanse of the internet. For your best chance of success, whether online or off, develop your brand throughout all of your channels
Conclusion
2024 will see the rise of social commerce, which will transform online shopping through creative use of social media platforms. With the help of our guide, stay ahead of the curve and navigate the constantly changing e-commerce landscape with ease and effectiveness.
If you’re looking for an e-commerce development company to help you with the creation of a mobile app, Appic Softwares is a great choice. We have a talented development team available to help you with any and all of your requirements.
Why then are you acting so cautiously?
