Turbocharge Your Social Media: An Eye Of Social Selling, By Sally El Akkad
Social media provides marketers with remarkable opportunities to reach consumers in their social communities and build more personal relationships with them (Kelly, Ker, and Drennan, 2010). Social media have changed the way brand content is created, distributed, and consumed, transferring the power to shape brand images from marketers to consumers’ online connections and content
The global consumer appetite for social commerce is growing, with compound annual growth of 28.4% projected between 2021 and 2028, social commerce carries a heightened sense of urgency and opportunity. Furthermore, 65% of global shoppers surveyed in our Future Shopper 2022 report said they have already bought through social media platforms. This is a huge 21% jump on the number of buyers in 2021 (44%)
The speed from inspiration to search to payment. The phrase we use to describe this trend is “compressed commerce” -the shrinking of time it takes for consumers to get from inspiration to transaction. It’s important too, as 80% of global shoppers want to move from product inspiration to purchase as quickly as possible according to our Future Shopper survey
This year, consumers are most likely to purchase from Facebook (33%) and Instagram (24%). These platforms are significantly ahead of other social platforms such as TikTok (8%) and Pinterest (4%)
- 65% of global shoppers said they bought through social media platforms within the last 12 months
- 83% of Facebook and Instagram users discover new products on social
And even if the future is MORE social, it is set to explode with opportunities where 4.62 billion people already use at least one social media platform and it’s set to increase. Moreover, 53% of people intend to shop more through social platforms in the future… what an amazing potential and exquisite opportunity for companies & brands!
And it is not only for the young, as per WTC 35% of 55-64-year-olds said that they have purchased an item through social media this year, up 9% from last year. Also 71% of shoppers aged 55+ favor faster, shorter purchase journeys that social commerce supports. Think about this as well while the youth are the heart of the economy and the true engine of its growth and purchase power, yet +55 population has a strong purchasing power specially in higher SECs and their reshaping their purchasing into easier more accessible opportunity makes a great difference in how they shop
So, what do the shoppers look for?
- Lucky opportunity- deals & discounts, 31% of consumers rely on social channels to find Black Friday deals
- Seamless experience- ease of purchase – resonating with the concept of compressed e-commerce, 8 in 10 shoppers want to move from product inspiration to purchase as fast as possible- and true social commerce should turbo charge the journey
The spread of social media created a whole new era for companies and brands, pushing them to seek new interactive ways of reaching and engaging their customers. This quickly expanding marketing channel, which already reaches more than two thirds of all Internet users, provides unparalleled opportunities for brand and reputation building (Bruno et al, 2016)
What companies want to do in the light of the above facts totally depends on both its leaders’ views & teams’ capabilities. Fact is sometimes companies “as much as individuals” aspire change then fail to synchronize their intention with efforts or resources. Nevertheless, fact is the beauty of social selling is not only acquired consumers, onboard them to the brand world, listening to their opinions about their experience & how they want it to be more meaningful and finally with some more good work build their loyalty & possibly referral