Social media, a platform created for entertainment and connecting with old friends has become the superweapon of marketers. Although it started as a common online space for meeting people, over time, like-minded people started to create their own community and spoke about their shared interests. This included the products they bought and services they used. Brands started to realize that these fire-side chats impacted their businesses. That’s how social commerce evolved.
Social commerce is an extension of e-commerce that involves social media and online media. User-generated content and sharing reviews also come under this category. Social commerce was first introduced with the concept of promoting e-commerce brands on other websites through advertorial content.
Social commerce aims to achieve the following goals of e-commerce:
User reviews and peer-to-peer conversations in social media determine the shopping trends of a brand. This can happen without the brand being active in the social commerce front and can indicate the influence social media has on both online and offline brands.
Social commerce like any industry is constantly evolving and improving. The latest predictions on customer behavior for social commerce are:
Social commerce has become integral in the marketing and advertising plan for every business. Physical advertising in the form of pamphlets, booklets, and leaflets do not impress the customers as opposed to mobile apps and e-commerce websites. All technological advancements like augmented reality and the Internet of things are now being used in creating a better social commerce experience.
The online space is where people spend more time when compared to the physical world. It is also said that by 2019 time spent on mobiles will surpass that on television. This makes social commerce a significant part of advertising for small businesses.
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