It's no secret that social media is becoming an increasingly important part of our everyday lives. According to recent studies, people are now spending almost 2 hours and 29 minutes a day on social media platforms, and that number is only growing.
As social media evolves, so does its potential for businesses. In particular, social commerce is starting to take over the e-commerce world. Thanks to the advent of social media platforms like Snapchat and Instagram, social commerce is growing at an unprecedented rate.
Statistics show that from 2021 to 2025, sales will increase at around 30.8% per year. So if you are not already taking advantage of it, now is the time to start!
Why Social Commerce Is Growing?
Social commerce is growing at an alarming rate, and there are several reasons for this. Let's take a look at some of the most important ones:
Social media is becoming increasingly important in our everyday lives. With more and more people using it to connect with friends and family, businesses can no longer afford to ignore it. We are spending more and more time on social media. Thus, it is opening up new user experiences and income potential for businesses.
What's more, social media is changing consumer behavior, opening up new user experiences and income potential for businesses. Shoppers are no longer just looking for a good deal; they want an engaging and fun shopping experience. All of this isn't easily available with e-commerce, which is why they resort to social commerce.
Likewise, social media provides businesses with valuable insights into what their customers want and need.
How Social Commerce Is Changing E-Commerce
Social media platforms such as Facebook and Instagram are perfect platforms for promoting products. With 56.1 million buyers, Facebook ranks as the top social commerce platform in the US. They offer businesses a lot of flexibility in terms of what they can do, as well as a huge audience to reach.
Moreover, social commerce is changing the way people shop. People are no longer just browsing through websites; they are now browsing through social media platforms and buying products directly from there. It means that businesses need to have a strong presence on social media if they want to succeed in e-commerce.
How to Take Advantage of Social Commerce
1. Make sure your website gets optimized for social media sharing. 70% of shopping enthusiasts look to Instagram to discover new products. Your customers should be able to share your products on their favorite social media platforms with just a few clicks.
2. Enable customer reviews and ratings on your products. It will help potential customers make informed decisions about what to buy.
3. Use social media platforms to actively engage with your customers. Answer their questions, offer suggestions, and generally be helpful. It will help build customer trust and loyalty.
4. Use social media to promote special deals and discounts available only to followers. This technique will entice more people to follow you on social media and buy from you.
5. Keep your social media content fresh and engaging. Share interesting facts about your products, offer sneak peeks of new arrivals, and run contests and giveaways.
What Businesses Need to Do to Adapt
The first step is to create a social media strategy. 93% of US executives said their businesses are moving eCommerce efforts to social media. It should include a plan for how you will use each social media platform to reach your target audience and goals and objectives to help you measure success.
You also need to make sure your website gets optimized for social commerce. It means adding social sharing buttons, integrating social media accounts with your site, and creating content that can get shared online.
Additionally, you need to actively engage with your followers. Reply to comments, answer questions, and run contests and giveaways. The more engaged you are, the more likely it is that people buy from you.
The Future of Social Commerce
As social media platforms continue to evolve, so does social commerce. What once started as a way to share pictures and thoughts with friends has now turned into a powerful shopping tool. Social commerce sales are predicted to value $605 billion by 2027. With the growth of social commerce, businesses that ignore social media are missing out on a huge chunk of potential sales.
Final Words
Social commerce is the future of the e-commerce industry. Platforms like Instagram, Facebook, and Pinterest are giving people easier and more fun ways to discover and buy products.
If you are not already using social commerce, now is the time to start! It's a great way to increase sales and traffic to your website, and it's here to stay.