The years 2020 and 2021 have been a game-changer for all of us…
Facebook, Instagram, or TikTok, everyone’s social media platform has churned into a massive selling platform for small and large enterprises alike. You cannot afford to ignore social media and social commerce in 2022.
“Social Commerce is the intersection of social media and commerce”
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Harnessing the brand’s social media presence for sales, creating a seamless in-app path experience, and driving the traffic directly to a brand’s direct or indirect channel; all this combinedly make Social Commerce Possible.
Accenture’s report, Why Shopping’s Set for a Social Revolution, revealed that the Global social commerce market is deemed to hit $1.2 trillion by 2025. This is nearly three times faster than the growth of traditional e-commerce expected during the same period. Also, by 2025, nearly 17% of e-commerce spending will come from social commerce. Social Commerce is becoming a trend, which is mostly driven by Gen Z and Millennial consumers.
“Social commerce is a levelling force that is driven by the creativity, ingenuity, and power of people. It empowers smaller brands and individuals and makes big brands re-evaluate their relevance for a marketplace of millions of individuals,” said Oliver Wright, global consumer goods and services lead at Accenture
Social commerce does not happen on its own; getting it right demands creators, resellers, and brands to bring their products and services to the place where a consumer is, or will be, rather than the other way round. It also requires working together seamlessly within a dynamic ecosystem of marketplaces, platforms, social media along with influencers to share data, insights, and capabilities to deliver a well-deserved consumer experience.
So, how does a brand achieve this? Well, let us walk you through the top social commerce trends for 2022 for a better understanding.
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Reaching out to customers, where they stand
Social media today is beyond meeting friends and family, it has become a discovery engine for brands. Social media users engage themselves in various actions such as getting inspired by a brand or people, interacting with friends for opinions along with shopping, and making purchases.
As the report said, consumer electronics purchases through social media are expected at 13%; brands can find their ways here.
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Seamless shopping experience
Every step that brands take to come near the customers is a bonus for them. By doing this, brands get this opportunity to change the mind of their customers. Creating a seamless shopping experience by reducing friction points and offering one-click purchases will boost customer confidence.
The report suggested that shoppers from India, China, and Brazil care more about the features offered and how these features can lead them to a quick purchase.
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Taking advantage of the e-commerce boom
After the pandemic, more and more customers are becoming accustomed to online shopping. This time offers a great opportunity for brands to try and test their chance over different channels.
Brands can try to strike between older and younger customers. Trust plays a crucial role here. While the elders emphasize on security features, the younger generation is attracted to live streams.
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Focus on popular, low-cost products
While it is true that users are attracted to social commerce, it is still difficult for them to make huge investments through social media. To create trust and reliability in the market, brands can focus on low-cost, but good quality products. Once the trust penetrates, bigger purchase decisions can be made.
“The pandemic showed how much people use social platforms as the entry point for everything they do online — news, entertainment, and communication,” said Robin Murdoch, global Software & Platforms industry lead at Accenture.”
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Experiments with chat bots
Every social media channel comes with its benefits. The primary advantage of Facebook, Instagram, and others is that they are ubiquitous. Brands need to come with their USP to make a mark in social media, for instance, customizable shops on Facebook. The time is to create tailor-made experiences consistent with your brand.
Social media continues to evolve. More explosive growth in e-commerce shall create more opportunities for the brands. When social commerce allows brands to create a seamless experience and reach consumers in the places that matter, brands must not miss this opportunity.
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A clear social commerce strategy, using the right channels with their target audience will define your brand sales in 2022.
