Social Commerce Strategies: How to Cash in

Everyone knows that e-commerce is here to stay, but what many businesses ought to be investing in right now is social commerce. Done right, social commerce can reap even bigger success for your business. What a business owner needs to know are the right tips that will allow him to capitalize on it apart from just having a mere presence on social media.

E-Commerce is alive, well, and thriving in the last couple of years – this much we know, thanks to the staggering revenue made that number in the billions. From this success, we’ve seen the evolution of yet another platform that’s set to revolutionize the face of e-commerce: social commerce. This year (and the coming years) is showing signs that social commerce will be the trend to pick up – especially on ultra popular platforms such as Facebook, Pinterest, and Twitter. If you’re already on these sites, you need to know some social commerce strategies and how you can utilize them in order to cash in. Here are five of the best tips you need to follow.

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1. Recognize the power of customer reviews.

Thanks to social media, what a customer thinks about a product – whether good or bad – will make it beyond his personal sphere of friends. Fellow social media users have so much power on product referral that you can’t ignore the influence. As a business owner, make it a point to encourage brand referral to others on a variety of social networks. Offer incentives like discounts and make it a point to do regular engagement. The more you engage with target customers, the higher the chance of positive words about your brand spreading around.

2. Make the buying experience a memorable one.

Think of value-added extras to make your brand more attractive. Apart from little extras, streamline the buying experience – make it as short and as simple as possible with multiple payment options so that customers will remember (and spread the word around) how breezy the whole experience of purchasing at your store is. It is also suggested to sell right on the social media site so followers need not leave the network just to check out your store.

3. Make substantial investments in Facebook ads.

Facebook ads are a great way to promote your brand as well as any special offers you might have. But before you launch just any random ad, make sure you do competitor analysis as well as research on the details of your target audience to ensure that your ad is indeed as effective as possible.

4. Mind your post’s timing and frequency.

Even if you have paid ads, it is important to remember that social media engagement is still necessary and greatly contributes to your brand’s organic reach. Thus, make sure that the timing of your posts (along with its frequency) is calculated to reach as many of your targeted audience as possible. Likewise, see to it that the content has a high chance of facilitating user engagement and is action-driven. Know when the majority of your audience is awake and active on social media, and maximize that time block to deliver them the content they want to see and spur them to action.

5. Put a substantial focus on Instagram, WhatsApp, and Pinterest.

Out of all the social media channels, Facebook is undoubtedly the biggest one. Still, others also offer huge business potentials for as long as you invest in it. It might not seem like a big ROI at the beginning, but it is probably because you haven’t figured out how to utilize it. There are more than fifty billion messages being exchanged on WhatsApp on a daily basis, and even a thin slice of that will already spell huge returns for your business. Think about how you can employ social commerce strategies for your business and capitalize on that!

These five tips should get you started on cashing in on social commerce. Because technology is constantly evolving, it is important that you know how to keep up to reap the rewards – and of course, for those who are determined to put in the work, there are plenty.

Written by:
Rex Carroll has been a Bachelor of Business from Indiana Institute of Technology, Fort Wayne Indiana. Being the director of business development, Rex takes immense interest in writing about social media, brand marketing, client engagement and much more. Rex's experience as a business entrepreneur has given him the inspiration to write about direct response CRM systems, customer relations, and several aspects that fall under business operations. He is always on the search for the latest trends in the social media industry and loves to share it with the audience. Apart from an appreciable writer, he also takes great interest in management training, latest technologies, sales, travel, sports, and fishing. He has also been the captain of a men's basketball team.