Role of Social Media in E-commerce
About half the global population spend a tenth of their day on social media. So to speak, the world’s population spending time on social is on an all-time high and the numbers are only growing. Small wonder then that businesses flock to the likes of Facebook to increase their visibility — or is it?
At Litmus Branding, when we suggest Social Media Marketing (SMM) to our customers, they often ask us — why social media is so all-important. Social media is an excellent tool for those in e-commerce. Why? Well here goes –
Number Speak
The Digital 2020 July Global Statshot report by Hootsuite and We Are Social divulges that more than 50% of the overall global population today uses social media. This is a breakthrough happening for the first time. DataReportal study also showing a humongous number, 3.96 billion people are using social media, approximately 51% of the world population. The Covid — 19 situations paying a major role in the changing dynamic. Here are some figures that ascertain the facts.
Looking at the figures, it seems increasing the social media visibility of your e-commerce business could directly lead to customer engagement. The business will at least form a basic first impression on the consumer’s mind.
Brand Perception
Any business must win the trust of its customers to survive and social media provides you a platform to build credibility for your brand and products. A strong and positive social media presence can change how people view your products and brand. There’s nothing like a strong testimonial or positive feedback from your customers to boost your brand. Positive reviews encourage new customers to explore your products and even disgruntled customers can be swayed by seeing people talking about your products positively and happily. Social media helps build your brand’s credibility and you can leverage this to your advantage.
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Market Survey
Talking about the role of social media in e-commerce, it is much more than a mere advertisement or even offering discounts. It is about listening to what your customers have to say about your product or brand and responding to them. Market surveys do much the same thing but they are time-consuming and costly. Besides, — paid or not — you cannot establish as close a bond with your consumers through market surveys as you can by using Social Media Marketing. If you want your customers to visit your e-commerce store, you must listen to them, bond with them, and invite them to your e-store with warmth. Social media offers you a platform to do just that.
The New Word-of-Mouth
Retailers and resellers are a dime a dozen but only those who can project authenticity and transparency thrive. In the past, this was achieved through word-of-mouth when one customer recommended a shop to another. Social media is the digital equivalent of word of mouth. Because businesses have little control over what people say about their product on social media it becomes the best source of organic traffic and lead generation. After all, if businesses cannot control what people say, what people are saying must be true right? Here are a few ways by which your brand can make a beginning
Expanding Customer Base
Perhaps the greatest impact of social media on e-commerce is that it helps expand your customer base. After all, it’s where your customers are! A good number of customers turn to social media to “verify” a product or service before buying. So if you want to establish your credibility and build your customer base in the 21st-century, social media is the place to do it. Where else can you find a single channel to foster, engage, and hold a large audience? Social media gives you the perfect place to present your products and spread the word about your brand.
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Establish your Footprint
Social media gives you the perfect opportunity to establish your digital footprint. By strategically partnering with influencers, engaging with the right audience, exuding reliability, and highlighting your strengths you can ensure that your customers — both current and potential — spread the good news about your product. Social media is the perfect opportunity for you to establish your brand and product online and for your consumers to shop online at your e-store.
Influence Buying Behaviour
Conversion is perhaps the biggest hurdle in marketing. It is also the biggest impact of social media on e-commerce business. In the 21st century, most people look to social media for everything from shopping to decision making. From Facebook to Pinterest, all social media channels influence brand perception and image. If done right, social media is the perfect place to get maximum conversions by influencing the buying behavior through strategic posts, encouraging positive feedback, and spreading word-of-mouth.
Adding Value
The role of social media in e-commerce is much bigger than merely a doorway to your website. It is a two-way street where you give at least as much as you get — perhaps more. The reason why social media impacts e-commerce so greatly is because it is easy to position your brand as providing that additional value that your customers are looking for. The best way to reach out to a large audience at a low cost is through social media because it gives you the perfect opportunity to add instant value to your products.
Social media lets you build a strong customer base by keeping your existing customers engaged and connecting with new customers. If you are on social media, you have your customer at your virtual doorstep — all you need to do is invite him in. It is the display window to your e-store.
