The infographic below provides a superb amount of information about social commerce. You can have a scroll through our collection of stats, facts and figures and see what all the fuss is about. Before you do that however, we have created a short intro that explains the basics of social commerce, and why it is important to both businesses and customers.
What is social commerce?
Social commerce is composed of two main components – social media networks and ecommerce. As you can guess, social commerce combines these two online elements together to create a new type of e-marketing strategy.
If you have ever made a purchase through Facebook marketplace or clicked on a sponsored tweet for example, then you have used a form of social commerce! Any type of ecommerce functionality that is presented on a social media network can be considered a form of social commerce.
Other examples of social commerce include Facebook eBay daily deals and offers, Facebook buy button, Twitter buy now button, Google+ offers, Instagram shop now feature and the Pinterest shopping cart. Most major social media platforms have already implemented some form of social commerce and these features should only increase in availability as their popularity rises.
How can social commerce benefit businesses?
Businesses can benefit hugely from social commerce as they can sell to a much wider audience. Social networking sites such as Twitter, Facebook and Instagram have a huge audience and are some of the most viewed websites and apps in the world. By selling your products and services through these platforms, you can potentially reach millions of customers.
Furthermore, you can build up brand awareness and create a social network community through which your customers can interact with your business. This is difficult to do through a traditional website and online store, but social commerce can facilitate these processes much easier.
How can social commerce benefit customers?
Aside from being immensely beneficial to businesses, social commerce can also greatly improve a user’s shopping experience. Social commerce can provide the following to customers:
– Superb promotions and discounts on products
– Up to date product and business information
– A new customer service outlet
– Entertaining content
– A means of providing customer feedback
In short, social commerce allows customers an unparalleled level of control and interaction and offers so much more than just a simple click and order process. Customers can communicate with their supplier in greater detail, benefit financially, and have access to a much greater variety of useful information.
In the near future, social commerce shows no sign of slowing down. As this type of ecommerce solution continues to receive positive feedback from customers, we should see an increase in its use. The major social networking platforms already have a myriad of social commerce features, but you can guarantee that we will see more in the months and years to come!
Check out our detailed infographic below for more fantastic facts and figures about the wonders of social commerce: