Have you ever found yourself scrolling through facebook or twitter and then all of a sudden there is a advertisement for a product that seems just like what you’ve been looking for?
At this point, it seems like we don’t even put a second thought into seeing them. They are on our facebook timeline, twitter feed and even among pinterest pins. Ads! And not just any ads, ads that make buying easier than ever. Social Commerce is all the rage for marketeers and we are both the unsuspecting victims and beneficiaries.
What is Social Commerce?
Social commerce is when a company uses a social media platform to advertise and sell products. most of these purchases can take place without the consumer ever having to leave the social media platform. An example of this is posting a tweet on Twitter which will allow a customer to purchase a product directly from the Twitter feed.
In another example of this, creative marketers able to use shopable pins on Pinterest. A recent article from Hootsuite shows that there are about 250 million people using Pinterest every month and with shopable pins you’re able to get your best pin in front of a target audience.
“Facebook is the top social network on the web. It’s a thriving beast of a social networking site on the web with about 2 billion monthly active users and more than one billion that log on daily”
Is it the next big thing?
Social commerce is not only the next big thing, it’s the current big thing. There’s a saying, “Go where your customers are.” And that is exactly what marketers are doing. With 2 billion monthly users on facebook, 1 billion on Instagram and 320 million on Twitter, this is where your customers are. Social media platforms understand how valuable access to their uses are and have already integrated marketing/advertising channels into their platforms. Social media advertising spending is projected to reach over $18 Billion in 2019.
Where is social commerce happening?
Social commerce is happening across all the major social media platforms. The big 4 are Facebook, Instagram, Twitter and Linkedin. The Big dog in this bunch should be no surprise, facebook. In 2017 it was reported that facebook had 65 million business pages and pulled in about $7.2 Billion in mobile ad revenue.
Can I Social Commerce?
So what does this mean for you? The simple answer is if you are engaging in selling/marketing, you need to be setting aside budget for social commerce. It is no longer the future, it is the now. The nice thing is that social media platforms have made the process as easy as it can be for you to reach customers. The competition is stiff though. There will be marketers with more data and bigger budgets to cast bigger nets over targeted audiences. However, that does not mean you can not have success. It does mean you’ll need to do your research on keywords and target audiences. Which is also something that with some practice, Google as facebook has greatly simplified.