Heidi Cohen, a marketing consultant, defines social commerce as is the evolution and maturation of social media meets shopping. Social commerce (sometime abbreviated as “s-ecommerce”) is a term often used to describe new online retail models or marketing strategies that incorporate established social networks and/or peer-to-peer communication to drive sales. In simple terms, social commerce exists when you buy or share something on your social media networks, because of a post by one of your friends, or when a follower decides to buy or checkout the same product you recommended.
How did social commerce boom?
Today social media is in an ever booming situation, mainly supported by Facebook, Instagram, Twitter and etc. These social media platforms are shaping the consumer buying behavior. Today we do not believe in advertising, we believe in recommendations. Social media has become the most accessible recommendation platform. Now there are many individuals who do their own business using only social media platforms in Sri Lanka. Following are two such examples how they use social media to drive sale.
Kraftsy is an online-based store that manufactures and sells handmade stuff – especially footwear founded by Crystal Koelmeyer. If you want to do a custom-made good quality footwear this is the place you have to check. You can easily place an order to Kraftsy by dropping them a message on Facebook or Instagram and you can pay them once you receive the delivery.
Paper Frills is all about from greeting cards to interactive paper crafts: handmade and customized to your exact requirement. This is the best place to order your paper craft if you want to make sure that your loved ones are getting the best; just make sure that you give at least two weeks heads up so that they will match your requirements. Paper Frills was found by Charmalee Kulatunga and she does her business using Facebook and Instagram. Drop a message on Facebook to contact Paper Frills.
Future of social commerce
Social commerce is now in the growth stage. Facebook is one of the main platforms that continuously support the social commerce transactions. Facebook is tightening its ties with e-commerce platform Shopify to make it even easier for consumers to shop on the social network. Shopify enables the users to click on a product, so merchants can either direct shoppers from Facebook to their online store or let them checkout directly on Facebook website or mobile app importantly Shopify will handle payment processing and transaction tracking.
On the same note, Facebook has enabled the Sale Groups option where members can list items for sale, search items to buy and mark items as sold once the sale is closed. These models will further increase the sales and customer satisfaction, more will be incorporated into the model.
Let me know if you have been engaged in any social commerce initiative in the recent past.
Original article was published in sithiranandula.com