Driven by Gen Z and millennials, social commerce is predicted to grow three times faster than traditional eCommerce, to a projected $1.2 trillion by 2025.
Brands have pushed to take the lead on new social platforms like BeReal, "a photo-sharing app that allows users to post one photo a day to show their followers what they're up to in real time," used primarily by Gen Z. For example, Chipotle has experimented with sharing coupon codes and e.l.f. Cosmetics used BeReal to show the "inside" aspect of their offices.
Social commerce, a critical element of ecommerce
In short, social commerce is no longer a suggestion but a critical element of ecommerce sales planning. A great social program can make or break a brand's image or engagement; There is a difference between doing it and doing it well.
There are three practices for social commerce strategy:
Know your audience and engage, use the power of data to discover who your audience is. By knowing your audience (gender, age, location, preferences), you can create content that not only grabs their attention, but drives sales.
Keeping up with new features, social networks will constantly update and release new features to adapt to user behaviors and desires. Updated Instagram to focus on more video content with Reels. Facebook configured shopping functionality. TikTok has changed video length to allow for long-form content and took over YouTube's sponsorship of VidCon this year. This is how these apps remain popular. So your social presence and commerce will need to follow suit and embrace the change.
Offer quality content, successful content will vary for different brands. For example, the language-learning app Duolingo has raised brand awareness by including its mascot in short trending videos and by collaborating with other famous brands.
Other brands focus on storytelling and emotionally connecting with customers. Ulta is an outspoken supporter of social issues like trans rights and a proud sponsor of influencer Dylan Mulvaney. This led to an outpouring of brand loyalty, with users declaring that they will be shopping exclusively at Ulta this past holiday season.
Social commerce is also a great way to create quality content that shows your customers how to use, style, or experience your products. A 2021 Nielsen study indicated that people find advertising on TikTok more fun, real, honest, trustworthy, and authentic. The study also found that 60% of users felt a sense of community on TikTok.
Source: Venture Beat
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