If you’re trading online, you cannot afford to ignore the rise of social commerce. Typical online shopping maintains dominance as the preferred method of purchase but the role of native selling on social media cannot be dismissed.
Social media channels like Pinterest, Facebook, Twitter and Instagram have all developed options for businesses to sell their stock from within the apps themselves. Social channels are also collaborating with third party platforms to sell tickets for events – a 4-way exchange between the retailer, the distributor, the social media platform and the customer. Customers no longer need to leave their social media pages in order to make purchases, which helps to reduce click barriers to sales.
The presence of social commerce is growing simply because it’s working. Retailers are learning the nuances of selling in a social sphere, which differs significantly from typical online shopping, traditionally a socially isolated affair. Selling on social can deliver good results when retailers showcase a limited range of products to viewers. This range can be quite specifically targeted thanks to data analytics that are available to shop owners on each platform.
Although the space is growing successfully (over 500 million people have used Facebook Marketplace), there is still plenty of room for online retailers to get on board. Pinterest is uniquely situated in this arena as many users go there to seek out product-based solutions and inspiration. The average purchase made directly within Pinterest is worth over $50 – a significant sum when compared to other platforms at this time.
Is it possible for your business to grow using social media channels as a sales space? Absolutely, but you cannot rely on traditional e-commerce strategies. Social media is built on relationships and interconnectedness, so be prepared to offer your customers seamless purchasing options, but also flawless customer service and support. Do it well and the customers are literally in the right place to give you public testimonials about your brand. Keep an eye on your channels for new in-app support for marketing efforts. Social media recognise the value of trading in-app, so developers will no doubt be working on seller support systems to help your business sell in this new environment.
