Ecommerce websites have become the new shopping trend. With increasing popularity, the competition is also growing, making it challenging to keep up your conversion rates. So what different and unique should be done to outshine your competitors?
Here comes in Social Media Networks.
There are over 3.5 billion people on social media networks around the globe. So using social media as a marketing tool for your business can be very advantageous for you. This is when we turn to Social Commerce.
What is Social Commerce?
Social commerce is an aspect of eCommerce that involves social media. In simpler words, it is the platform where you can sell your products online via social networking sites. Social commerce supports social interactions and contributions by the users regarding online buying and selling of products and services.
How Can Social Commerce Help You Increase Your Ecommerce Revenue?
We know that you must have already started working with social media to display your business through ads, but if you’re relying on them for your revenue, you have to explore more. To improve your conversion rates, you need to do something else too.
Here enters social commerce. With social commerce, you can sell your products and services on a third-party platform that will help you engage more customers. Through social commerce, they can buy your products and services directly from other social media platforms.
This will help you retain more customers as they will be avoiding the extra steps of reaching your website and sorting what they like. It will also help you improve your eCommerce conversion rates.
List Your Products On Social Media Platforms Such as:
1. Facebook Social Commerce
If you’re new to social commerce, this is the best way to start listing your products. Statistics reports show that most of the purchases made through social media are made via Facebook.
Facebook is a very user-friendly and highly used social media platform. Facebook business pages provide you with the leverage to drive sales. You can directly list your products and services on your business page.
This feature creates a standard eCommerce website appearance to make it easy for customers to engage with it.
Once you’re done with the listing, it gives you an option to add a Shop Now button which will take your customers to your website.
Facebook provides customers with an option for both shopping directly from Facebook Shop and redirecting them to your official eCommerce website as well. So taking advantage of this feature is necessary. There are still many people who don’t trust social media and are not very comfortable buying from them. Therefore, giving them an option to shop directly from your website is advantageous. You don’t want to lose those customers just because they don’t want to shop from Facebook.
To set up purchases directly from Facebook, you will have to associate your Stripe or PayPal account with the page. Each of these charges 2.9% of the purchase plus an additional $0.30 per transaction. We know these rates are a little higher than your usual credit card fee on your website, but you’ll have to accept this to increase your revenue.
All your orders can be managed directly from Facebook Shop. It provides you with all the information regarding the past, current and pending orders through Facebook.
2. Instagram Social Commerce
The use of Instagram for selling and promoting your business and products is increasing day by day. With its over 500 million users, it allows you to reach a considerable mass very easily. Instagram gives you an option to create an ad as well as create shoppable posts on your account.
Creating an ad on Instagram can be very easy. Just like a regular Instagram post, these ads can also contain several photos and videos. This kind of advertisement is called a carousel ad. You can advertise by using just one photo or video as well. Along with the ad is a clickable button that says “Shop Now” redirecting them to your website or Instagram account. This drives the traffic to your site or account to get you eCommerce conversions.
Creating shoppable posts is the latest trend that is taking Instagram shopping on a whole new level. These posts allow you to tag your product and prices directly on the picture or video you have uploaded. If the customers click those tags, they will reach a page where they can purchase the same. They will not have to make efforts to find that product again once they reach your website.
As you know that Facebook bought Instagram in 2012. You will be able to start Instagram product tagging if you’ve connected your Instagram Business Profile with your Facebook Shop or catalog in a Business Manager account. You have to be the admin of the page for it to work. Once you’ve done that, your products will go under review by Instagram.
Once approved, you will see an option to tag your products.
This feature is currently available only for the businesses that are eligible and approved in the United States of America. If your business is based out in some other country, you will have to wait for it to available in your country.
3. Pinterest Social Commerce
Users like to browse through Pinterest for inspiration, ideas, and products they’re interested in. Therefore, Pinterest can be a beneficial tool for selling and promoting your products.
Pinterest allows you to add buyable pins or buttons to your product images. These buttons give customers the ability to buy the products from Pinterest itself. They can pay through their credit cards or Apple pay through Pinterest only.
With this feature, the buyers can complete the procedure of shopping with just one click, which will definitely increase your conversion rate drastically.
We know that it is difficult for eCommerce websites to stay in the market and stay on top. So we have tried to help you with some of the latest trends that can help you increase your sales and revenue.
We would suggest you take total advantage of these social media sites along with your traditional eCommerce website. You should make your products available on as many social media sites as possible to increase your social presence and reach a broader audience. This will definitely help you heighten your brand value and revenue.
Author Bio: I’m Alice Herman, a digital marketer, and technical writer who is passionate about exploring and writing about innovation, technology, and digital marketing trends.