Social meets E-Commerce
If 80% of marketers saw significant increase in traffic just by their social media pages last year, imagine how desperate they are to sell on social networks now.
If 80% of marketers saw significant increase in traffic just by their social media pages last year, imagine how desperate they are to sell on social networks in 2016. It’s now an understatement that social networks are actual ‘places’ to not only talk, meet, express, read, write but also buy and sell. It’s an era of social commerce and social network stores.
As the five giant social networks – Facebook, Twitter, Instagram, Pinterest and LinkedIn – gear up to increase eCommerce ties, social networks are all set to keep users engaged indefinitely. And there’s good reason to believe that a majority of users are more than willing to buy directly from social networks and applications. The end-of-year holiday season of 2015 witnessed an increase of 26 percent social commerce sales to reach $3.3billion. And this was just in two months.
There’s a simple reason why social commerce is the next big paradigm shift in the social network world. People are already addicted to the time they are spending on social networks, they might as well use that time to ‘gain’ something tangible. Today, there’s no better way to keep people engaged in the social platforms than by offering products they want and need. And anyone in the business of social platforms worth his salt knows: more engagement directly means more revenues.
A picture equals a thousand words
Social commerce has one clear edge over any other content served on social networks: engagement through pictures, videos and now live videos. We know 50% of the social media users prefer videos and images over text content. Users are more likely to stay on a social platforms if they get to see things they want and have the option of buying those things right there. Online shopping with social media is possibly the most killer combination of engagement.
Slice of the eCommerce pie
While currently the giants are claiming they won’t have a share from the actual purchases, there are many other ways of potential revenues for social networks. The improved social commerce will make users more demanding, thereby, paving ways of more innovative online shopping options right within the social media apps, leading to newer ways of revenue generation. For instance, Frenzy - a fashion social network totally encashes the purchasing tendency of users and engages them successfully through a wonderful online shopping experience.
The new generation of social commerce
Startups and enterprises looking to build niche social networks may possibly gain a lot from the social commerce trends. They have the option of building and designing their social media apps by integrating eCommerce options right from the scratch. What the older ones are now integrating, the newer social platforms are likely to make it more robust since they will have built their apps leveraging from the former’s experiences. The new generation of social networks will have in-built social commerce features with better revenue generating mechanisms.
Vinfotech has developed the hottest digital products for some of the most ambitious enterprises and startups around the world. We believe in design thinking-led software product development and are a service provider of full product development lifecycle, creating best-in-class web & mobile products. We build consistently awesome e-commerce experiences that continue to charm users and keep them coming back. Our digital offering includes development of intuitive and stunning mobile applications.