The rise of social media has transformed the way people use the internet, including how they shop online. eCommerce businesses that take notice of this trend have begun to see real benefits both in their brand exposure and in their bottom line.
Being a Part of the Constant Content on Social Media
While websites like Myspace and LiveJournal offered personalized page spaces in the past, “newsfeed” models like Facebook, Instagram and Twitter have become infinitely more popular. Part of the reason is that these sites offer constant streams of personalized content to anyone who signs up.
Online retail brands have begun harnessing this potential for marketing reach by offering up interesting content campaigns. Staples’ Twitter account, for instance, posts humorous and interesting tidbits about office life. They also regularly respond to and engage with other users, which encourages people to tweet at Staples and use branded hashtags to get some attention of their own.
Old Spice provides another great example. Their ad campaigns are quirky but hilarious as well as infinitely shareable. People who use social media are hungry for new entertaining content and useful information. A brand that can curate such content while offering products worth talking about has a surefire win-win formula for both their business and their customers.
One of the best uses of social media is as a venue for spreading brand recognition and interacting with a client base. Research from the Search Laboratory indicates that Americans are 71% more likely to buy from brands they “like” on Facebook and/or follow on Twitter. In fact, half of all social media-driven purchases occur within a week of someone sharing, tweeting or liking a branded product page.
A possible reason for this connection is that social media gives brands an opportunity to craft their online personality. Businesses can remind people about the quality experiences and value their brand offers.
New POP Opportunities
Advancements in social media technology have allowed eCommerce businesses to create new sales opportunities every time a potential customer checks their social media account. Twitter allows businesses to activate a “click to buy” button, allowing users to make purchases with as few as one to three clicks. Facebook similarly offers shopping functions to go from an in-page link to an eCommerce store. These functions have created a new sales channel for eCommerce businesses and many businesses have successfully optimized conversion rates using these channels.
Using smart hashtags and campaigns have become another effective method to attract new customers to businesses and direct people to their sales platform. Over 30% of all Twitter users began posting about their holiday shopping intentions before October. Brands can use this early frenzy to participate in the conversation and inspire ideas for holiday gift giving.
Pinpoint Customer Targeting
Another way that social media can link directly to sales is through targeted advertising. Features like Facebook’s graph search allow businesses to present ads to incredibly specific demographics. For instance, if someone wanted to target 45-55 year old men who live in Long Beach and smoke cigars, they can pay for advertising to appear to that specific group.
Exciting changes like these are why social media has created new opportunities for eCommerce brands. Many businesses are riding this wave of success by crafting a social media presence both through organic and advertised methods.
Thrive Commerce can help you find new ways to generate revenue in all facets of the online landscape, including social media avenues. To learn more about tapping the power of social networking to drive your sales, visit our eCommerce services webpage.