What is social e-commerce?
The term was introduced by Yahoo! in 2005 which describes a group of online collaborative shopping tools like shared pick lists, user ratings, and other user-generated content-sharing of online product information and advice.
Simply put, it brings e-commerce functionality directly into social media platforms.
It will also extend your reach and help you reach audiences who might never have found you otherwise.
There are two types of social e-commerce platforms:
- On Social media
Considering 71% of adults with Internet access use social media, almost every business can enjoy marketing on platforms like Facebook, Twitter, and Instagram.
Social media platforms also offer a way less formal way of communicating with potential customers than the other advertising channel, making it easy to interact in two-way conversations.
It also allows your customers to share your brand with their family and friends.
2. On Website
In social commerce sites, you bring the social media posts (content) to your website using social commerce platform.
It makes them shoppable, and embed them on the website so that website visitors can shop the looks they like.
On-site social consists of adding a social layer to your actual website.
The main benefit of Onsite social is that you are keeping the user on your site where they can actually convert and you can improve your site experience through this social layer.
See it, like it, click it, buy it!
Social media removes friction from the consumer’s end, making it easy to follow through from discovery to purchase.
Social commerce speeds up the transaction process and is also a great way to collect feedback.
On one hand, this makes end-users feel rewarded and recognized for sharing experiences and helping to expand the customer base of the corporate while on the opposite hand, businesses enhance their branding and marketing reach.
At the top of the day, it’s a win-win situation for retailers and users both brought by social media.