Social commerce in 2021
Social commerce in 2021 |
Social media has become the most popular way to spend our
"downtime." In this article, I will discuss social commerce in 2021 and 2022 and onwards.
Globally, more than 3.6 billion people use social
media, and it is projected to reach 4.41 billion by 2025 . With
the growing popularity, social media platforms are trying to lengthen the time
they spend on their platforms to generate additional income from advertising
expenses.
According to Grand View Research, by 2028, the
size of the global social commerce market is expected to reach $ 3.369.8
trillion. The same report anticipates that it will expand at a CAGR of
28.4% from 2021 to 2028.
The 81% of shoppers say they are looking
for products in Instagram and Facebook before making a
purchase. Currently, Instagram and Pinterest provide the most relevant
social commerce experiences for brands. Facebook and TikTok are expanding
their offerings.
The most effective social media platforms vary by
audience, Gen Z makes 2-3 times more purchases on social channels than
the average consumer, preferring Instagram for social purchases, while Gen X
prefers purchases on Facebook.
A social commerce strategy is a must. It must be
optimized to provide the best possible experience for consumers, and it must
also be supported by a cohesive digital experience.
A brand investing in social eCommerce needs to ensure that
there is a measurement strategy in place from the outset to demonstrate whether
it is working, and that it allows for adaptation as needed.
The following platforms are the ones that companies use to
sell products and services in 2021:
Generate traffic through Facebook
Facebook has the largest audience and source of traffic of
any social network, with 2.74 billion active users , reaching 59% of
the world's population.
The average user spends 34 minutes a day on Facebook, and
selling products and services on the platform allows businesses to reach
potential customers where they spend their time. The tools available to
businesses are very specific and extensive, generating leads and providing an
opportunity to develop customer relationships.
Show your brand offer on Instagram
The visual appeal of Instagram makes it the perfect place to
highlight products. More than 1 billion people use the platform ,
spending an average of 30 minutes a day. 81% of users are looking for new
products and services, product images and video demonstrations.
Instagram's shopping features allow brands to embed product
catalogs and tags into posts and content, creating an easy and effective way to
purchase product listings. With 130 million Instagram users clicking on
posts and 90% of Instagram users following a commercial profile on the
platform, a platform that is geared towards product display and consumerism.
Combine your Instagram shopping catalog with an influencer
strategy to expand your reach and product resonance with your potential
customer base.
Reach professionals on LinkedIn
With 722 million users , it is the platform to
connect with users and generate results with a specific business focus, and the
most suitable for B2B brands.
There are 61 million “influencers” on the platform capable
of making the decisions that drive growth and action, a crucial aspect of
social selling. Ads on LinkedIn can identify and convert your ideal
customers, with the ability to increase purchase intent by 33%.
Other networks to consider
Pinterest , users are on the platform to buy, 47%
of users log on to the network to research and plan purchases, equivalent
to 150 million users. Given their focus on images, it is another option
for brands to display products where the customer is actively looking to buy
products.
TikTok, a strong focus on Gen Z and Millennials. The
integration of in the shopping and advertising functions is still in its
infancy, but it is still a platform with the potential to reach a younger
audience.
Conclusion
Selling on social media is a must for both B2C and B2B
brands. Choose the most appropriate platform to reach your client, develop
a social sales strategy that aligns with your brand's marketing strategy, to
boost sales and income.
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