In the age where every other person runs his own company, the competition is to the point where the margins are already cutthroat. So there seldom remains a possibility of earning a profit through cost cutting. It’s quickly becoming all about sale. Creativity and innovation in ideas to sell, is key and with the golden age of e-commerce going on, the newest of all ideas is social commerce.
Social Commerce simply means letting your customers buy your products not only on your website, but on third party social platforms like Facebook and Twitter. The consumers feel more comfortable with online shopping when the products are endorsed, reviewed, recommended or liked by their own social circle. Major social platforms like Pinterest and Facebook suggests their users with the products their friends are using, and the chance that they will purchase the product then and there, increases dramatically!
For instance, you put a product for promotion on Facebook. Now first of all, Facebook will only suggest the product to someone for whom the product is relevant filtering the age group, region, gender, etc. Then, it will try to find and show the users those friends in their list who have already liked the product or recommended them. The comfort of a trustable review will increase their chances of buying the product. If they decide to buy, they’ll be able to buy directly from Facebook without coming to the company’s website. This is Social Commerce.
Almost every social media platform has embraced the idea of creating video content for marketing a product. This way, the companies have the option to properly show the working of the product, to educate the market and to make their product look more attractive to the potential consumer.
Social Media marketing involves manipulating the audience into making a buy instantly! For this, the people are generally presented with the consequences of delaying their decision. For instance you might have seen posts like, Limited Period Offers or Discounts up until a certain date, etc. This turns out to be an effective way to weed out overthinking of consumers and delaying decision to buy.
People are generally very skeptic to internet frauds and scams, and generally do not trust the products sold online. In such a case, if they find that people have already purchased that product from that site and have had good experiences, they are more comfortable with the purchase. So the companies nowadays generally urge their paying customers to review their products or services so that the purchases from new and potential ones can be increased.
The idea of social commerce is still relatively new and evolving. Companies are constantly trying to sound friendlier to the costumers in order to develop a bond with them. Social Commerce is all about making the costumers feel like the company holds a personal connection with them. This will increase brand name, and most importantly brand loyalty. With the development of social commerce, the interaction of companies with their customers will increase drastically. With the companies interacting with public like other living and breathing human beings, the golden age will shift from traditional e- commerce to social commerce.