25 Mar 2022 Social Commerce 2022
What is social commerce?
Social commerce falls under the larger ecommerce umbrella, and refers to when a consumer’s shopping experience occurs directly on a social media platform. It can also include clicking links on a social network that lead to a retailer’s product page with an immediate purchase option.
Social commerce marketing strategies for brands
No one marketing strategy is going to work for every brand—a social shopping experience for athleisure is going to look very different from a campaign for electronics. However, all brands can utilize influencers, consumer calls to action, and user generated content, to successfully compete in the social commerce market.
- Phrases such as “swipe up to purchase,” or “store link in bio,” have become extremely popular calls to action—pushing social media users to purchase the items or services they see advertised on their newsfeeds.
- User-generated content has risen in importance for marketers—with TikTok videos and hashtag challenges providing value for brands. This viewer-friendly content combined with appropriate call to action steps has been a boon for advertisers and marketers alike. In addition to these organic opportunities, companies should keep influencers top of mind when planning their social commerce strategy.
Social commerce trends
Thanks to the example set by China, brands remain optimistic about the future of social commerce. While consumers may go online to search for a product that they need, social commerce could fill a void when people go online without knowledge of what they’re looking for or even intent to buy. Through social media platforms, brands and companies are looking to help consumers with product discovery.
Examples of social commerce companies
- Facebook launched Facebook Shops—a mobile platform where businesses can create online stores for free—to help small- and medium-sized businesses (SMBs) bring their storefronts online amid the pandemic. And if the effort is successful, Facebook Shops could work its way upstream to larger brands.
- Instagram launched Instagram Checkout— streamlining the way brands allow purchases directly on the platform. Instagram took their shoppable content a step further by placing the shop tab icon at the bottom of the homepage. This enables Instagram users to click on the icon and instantly see and purchase products advertised by brands, influencers, or celebrities they follow.
- While Pinterest drives significantly less engagement than Facebook, it still registers as a key purchase channel because its entire premise is centered around creating inspiration for what to buy.
- TikTok’s algorithmic prowess and engaged, tech-savvy user base have potential to unleash rapid growth as it achieves product-market fit. And its recent tie-up with Walmart gives it a formidable ecommerce partner to fuel and fulfill consumer demand.