Creating smooth e-commerce experiences through popular social media is a trend in social commerce. The way social media evolves and grows in response to shifting consumer trends has always amazed people. Simple, text-based messages have gradually given way to more visual and transient material during the past 20 years, promoted by app-based networks like Facebook and Snapchat. Social commerce has also exploded during this period.
The effectiveness of adopting social media for retail may thus depend on social commerce. This article discusses social commerce and how your company may benefit from digital onboarding.
What is social commerce?
Social commerce is directly exchanging products and services on a social media network. It entails going beyond social media’s conventional function in the discovery process. Users will instead be able to finish the whole purchasing process on the same platform. This implies that users may easily transition from discovery to buying without going to a different app.
E-commerce vs. social commerce
E-commerce generally refers to the act of purchasing and reselling products online. It involves selling through various digital channels, like websites, specialized store applications, and online marketplaces.
On the other hand, social commerce entails making direct sales on a social media platform. Social commerce is a subcategory of e-commerce but is distinct from e-commerce as social networking sites are digital platforms.
Social commerce trends for 2023
The top social commerce concepts to watch out for in 2023 are listed below. These patterns might help firms plan their digital onboarding strategy in the coming years.
Xr experiences across linked devices will be made possible by a 5g connection.
Beyond edge cloud computing and cutting-end AI, social commerce will be improved by the ongoing worldwide rollout of 5g wireless connection. It will allow seamless mixed-reality interactions on a wide range of linked devices.
This growth estimate will probably be surpassed if marketers can use new technologies and the strength of 5g to give consumers enhanced shopping experiences.
Virtual characters will walk the runways of the fashion industry.
Influencers will remain important in the garment industry, but digital avatars are about to walk the digital runways. They will provide brands with more freedom to advertise new collections, create clothing, and facilitate digital sampling. Even when buying online, customers will have more accurate perceptions of how apparel and accessories seem when worn. Based on Instagram’s 2023 trend report, 67% of Gen Z Instagram followers stated they want to adopt digital avatars to represent their distinct fashion tastes, physique types, and skin tones.
Ar and VR
The social shopping experience will be improved by VR and AR activities. Websites like Pinterest have included an augmented reality-based “try on” option. This enables customers to test out cosmetics and examine how home décor items look in their environment.
Micro-influencers will keep assisting companies in expanding their reach.
Although it isn’t a new trend, working with micro-influencers is nevertheless important and will be in 2023. Micro-influencers, especially for small firms, may help them better manage their advertising costs while reaching a larger audience.
Contrary to certain well-known influencers who work with companies at costs even small businesses can afford, micro-influencers have thousands to millions of viewers. They frequently have extremely precise audience groups, which makes ad targeting and segmentation easier.
Opportunities in social commerce for 2023
Brands should think about social commerce for a variety of reasons, but here are a few:
1. Speak with customers where it matters.
According to Hubspot’s data from 2022, 22% of customers prefer to find new items via social media. Users participate in various activities when shopping and making purchases, such as looking for inspiration from other individuals and companies and asking friends for their comments via direct messaging.
2. Construct frictionless shopping environments
Every additional step in the purchasing process allows a potential buyer to alter their mind. Customers’ confidence will increase, and more revenues will result from creating a smooth customer experience by removing friction points and providing direct and one-click purchase choices.
3. Benefit from the surge in e-commerce
As was already said, digital onboarding rapidly expands in all markets and regions. Consumers are increasingly more accustomed to making purchases online, allowing marketers to test and learn across several channels.
4. Concentrate on selling well-liked, inexpensive items.
Even while individuals are more accustomed to making purchases on social media, this is rarely the major reason they visit. People go onto Twitter, Facebook, or Instagram to learn what’s happening in the news, enjoy fantastic pictures, or catch up with friends.
Social media users are probably preoccupied and not eager to make significant purchases. Make their life simpler and prioritize the lower-cost goods you already know work well, whether in conventional e-commerce or physical storefronts, to assist in eliminating friction.
3. On Facebook, create a personalized social shopping experience.
One of its main advantages is that Facebook is a widely used and well-established social medium. Additionally, there’s a chance that you already have visibility for your company on the network, making the transition into social commerce pretty easy.
Advantages of social commerce for your company.
1. Broaden your prospective clientele base
More than 4 billion individuals use social media globally, and consumption is continually growing. Additionally, customers are finding new companies and goods via social media.
2. Convert clients where they are and eliminate obstacles
Since users may immediately purchase on the website, social commerce makes it simple to convert clients where they are. It eliminates users’ need to navigate to another app or website to find the desired purchase. By reducing the purchasing process, it reduces friction and obstacles to purchase.
3. By using social proof, evaluations and recommendations will rise
The ideal location to start building the crucial social proof for your firm if it is new to online sales is on social media. Your customers can’t always test or try on your merchandise when they shop online. The key to making an informed buying decision may be found in reviews.
When you manage your whole client experience on social media, a constructive feedback loop is produced. This will eventually impact your financial situation.
4. Learn about the social habits of your target audience.
Due to social commerce features, you have immediate access to the social profiles of your customers. This gives you important customer data that you may use to refine your present strategy.
Gaining a deeper knowledge of your audience may be accomplished by combining these observations with social media listening. In this manner, you gain a deeper understanding of the preferences and passions of your consumers.
The rapid growth of e-commerce every year will provide marketers additional chances to develop social commerce experiences as social media keeps growing. A secure payment gateway allows companies to reach customers where it matters and provide seamless purchase experiences. However, for marketers to be successful in social commerce, they should have a clear strategy and use the right channels to reach their intended audience.
If you’re a novice to social commerce, reputable networks like Facebook and Instagram are the best places to start. To assist customers, save time and money, and foster consumer trust, organizations aiming to advance should experiment to gain insight with new ideas like chatbots. So, contact PayTabs to get started with your social e-commerce.