Sometimes, shopping on site or in a store can represent a significant chunk of our day that could be put to better use. In addition, you often have to visit several stores in order to finally get your hands on what you want.
These problems can now be solved with social commerce, a concept combining great customer experiences and online shopping using a social media platform such as Facebook, Instagram or TikTok.
A growing business: promising figures
According to a Data Reportal report published in January 2022, 67.1% of the 7.91 billion people in the world own a cell phone, 62.5% use the internet and 58.4% are active on social media. Technology is now an integral part of the Homo sapiens' daily life!
On a typical day, the average user spends 2 hours and 27 minutes on social media. Among people 16 to 64 year of age, 15.7 percent use WhatsApp frequently, 14.8 percent Instagram, 14.5 percent Facebook, and 4.3 percent TikTok.
Moreover, according to the Annie app, YouTube is also a popular application, since its users spend an average of about 23.7 hours per month – almost a full day – on it.
The 5 C's of social commerce
The WFA (World Federation of Advertisers) has come up with the 5 C's of social commerce in order to define a strategy to sell products and develop a brand on social media: Content, Consumers, Convenience, Conversation and Commerce.
Useful and relevant content must be optimized by the options offered on the platform and by the use of influencers. Therefore, a varied, diverse and vast audience will see the products.
Consumers are at the heart of social commerce, because sales depend on them. That's why their voice counts as listening to their feedback is key to improving the product and its packaging, format, sales techniques, colors, prices and sales conditions.
Convenience in the sales process is of the utmost importance. The consumer must receive the product in an appropriate amount of time in order to start using it quickly and easily. Once purchased, the customer is anxiously awaiting the item.
Conversations awith consumers will increase your visibility as well as your sales. On the advertiser's side, you need to get as much information from consumers as possible to meet and anticipate their needs. It is also important to provide the right information to the influencers working with the product so that they can deliver the right content and details.
The commerce environment in which you offer your product must be thoroughly analyzed. Your prices must be competitive when compared to similar products offered offline. The development of an adequate strategy according to the platform used is also a key point.
An avenue to exploit
Social commerce truly highlights the importance of the present moment. It makes various products easily accessible at any time on social media. No travel is required and the consumer has access to your business at all times. Finally, it gives you access to customers from anywhere in the world.