The initial rise of social commerce, in my opinion, was a result of the social aspect of shopping. Shopping, in itself, has always been a social activity, whether it was people shopping together, a parent with a group of kids in tow, a spouse shopping for their entire family, or someone getting sales tips from a friend about products or services they are looking for. Social Media made the shopping process more social because, as we are able to shop offline or online, we can share our experiences with our social networks. Take a look at these key statistics:
- 70% of marketers have been successful in gaining new customers via social networks.
- 57% of users trust more in the opinion of his/her contacts than in what the brand has to say about its product or service.
- 47% of social networks users state that Facebook has had a bigger impact on their decision to buy than any other social network.
The early phase of social commerce was led by users sharing their shopping experiences with their networks and companies providing social features to enhance the shopping experience. Enhancement included adding Social Media Sharing buttons to products or on eReceipts so people could easily share these things. Amazon.com was one of the initial online stores to provide these features. Key networks that these Sharing features initially resonated on were Facebook, Twitter, and Pinterest. Another example were offline stores providing Social Media advertising inside of their stores or on receipts, letting customers know that these stores were active in the Social Media space. Once people connected to these companies online, they would receive incentives such as online coupons and early sale notifications. The sharing of web links to online store’s coupons or websites was the key driver of early social commerce.
Fast-forward to the current phase of social commerce, and the actual social networks are leading it. Certain social networks see the benefits, engagement-wise and financially, of making the eCommerce process easier for consumers and sellers. Here are some of the key advancements in social commerce:
Twitter Offers When users see a Twitter Offer in their timeline, they can add the offer to their credit or debit card in just a few taps and redeem them in real-time by using the card at the store. Because the offer is tied to their card, redemption is seamless and easy. There are no coupons to redeem at the point of purchase. After the purchase, the cash-back savings appear on their card statement within a few days.
With Twitter Offers, advertisers will be able to attribute redemptions directly to their campaigns on Twitter. That way, they can effectively measure the ROI from their promotions, even when redemption happens offline. Additionally, we make it easy for merchants to get up and running. Because they can use their existing payment network, there’s no change to the consumer purchase process, no employee training, and no new hardware or software to install. By leveraging Twitter’s robust targeting capabilities, advertisers can tailor their promotions and campaigns to the right audience all while optimizing for performance.
After users add a Twitter Offer to their credit or debit card, that card information will be encrypted and safely stored to make it easier for them to claim other offers or make future purchases on Twitter. This option also gives users the ability to remove this information from their account at anytime.
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