In this week’s eComm Edit, we explore the future of shopping. The rising importance of influencers. And the implications for founders. And as always, we pick out our top best-practice tactics that you can apply to your business today. Like what you read? Sign up to receive our fortnightly eComm growth newsletter here.
In just one day in October 2021, two of China’s top live-streamers sold $3 billion worth of goods. That’s roughly 3x Amazon’s average daily sales. This is the power of social commerce.
Social commerce offers something radically different. It’s set to revolutionise the way we shop. No one can afford to ignore it. This will impact every brand, retailer, and eCommerce business.
While in its early stages (at least outside of China), we’re already getting a glimpse of what the future may look like.
But don’t take our word for it, dig into why shopping is set for a social revolution with this article by Accenture.
Inspired? See how you can put this thinking into action with our top tactics today. See below. 👇
Here are our top social commerce takeouts to apply to your business.
For founders, social commerce offers opportunities to develop new types of shopping experiences, and new ways to connect and engage influencers/creators. For example, Facebook, Instagram, and Pinterest offer native shopping solutions for business accounts. Using social commerce solutions has many benefits. It’s completely free to set up. It streamlines the sales process. And it’s what social media users want. Read more in Hootsuite’s latest article here.
The right social channel can unlock ridiculous returns if a company embraces it well. Once upon a time, only the cool kids hung out on TikTok. Now, TikTok is a place where businesses are actively selling to TikTok users. As a social commerce platform, it’s cheap, effective, and highly engaging. Read more about how TikTok is the future of commerce here.
Influencer marketing has earned its place as a key marketing channel for eCommerce brands due to its impressive ROI, high influencer engagement rates, and strategic targeting of online audiences. But finding the best influencers to represent your brand doesn’t have to be a painful process. As a starting point, try and work with content creators that already love your brand and products.
Further reading: The trends and best practices that will define social commerce in 2022.