The success of ecommerce business depends upon reaching more number of people online which is easily achieved by the social media sites like Facebook, Twitter, etc. The social media plays a great role in online sales and attracting more traffic to the ecommerce site.
Facebook drives nearly two-thirds of all social media visits which counts to 63%, Pinterest 13%, and Twitter 10.5%, Majority of the offers from social media comes from Facebook with an average of 85%. The top three platforms for ecommerce conversions are Facebook, Vimeo, and YouTube.
Some of the factors of social media that influence ecommerce business are discussed below.
1. Brand awareness: Social media helps to promote the brand awareness which is useful for the retailers. Around 89% of the people agreed that social media created more business exposure. The brands can be established with consistent content posting which can fetch followers as well as encourage interaction among the customers. A clear product awareness can be attained using social media quickly and virally.
2. Influence purchase: Social media has done a great shift in purchasing behavior of the customer. According to a survey, 84% of the people admitted that they were influenced by word of mouth recommendation. The opinions posted by the customers on the social media influenced the sales on the site upto 68%. Building trust is the main criteria for influencing sales which is achieved by relationship building through social media.
3. Customer loyalty: A strong bondage between the customer and the company can be established by dwelling customer relationship via social media which helps to build customer loyalty. It helps to increase sales.
4. Product Insight: The feedbacks about the product and service can be easily managed by the social media which helps to spread the word of customers across the social network such as recommendations and opinions. This can provide good insight on the product leading to enhanced sales.
5. Social environment: The social media such as Facebook provide a social environment for the buyers to shop as per their status and outlooks. The Facebook provides an interactive environment where user can deeply discuss about the product and share opinions. Other’s recommendation is always welcomed by the public. Other websites like Pinterest allows to organize the interest of the customers in boards which helps to influence sales. The company can get an insight of people’s preference and choice via social talks.
6. Measurable objectives: The company can get the data of traffic routed into ecommerce site via social media, ratio of traffic from social networks to conversion, total number of followers, ratio of social media audience influencing sales growth, ratio of social engagements like comments, likes, shares etc. All these shows the way in which social media visits are converted to sales.
The recommendation from the friends on social media such as likes on Facebook or followers on Twitter or Pinterest helps to streamline the public opinion that may affect sales on ecommerce sites. It also assist for decision making. Branding can be made very easy using the social media which is a direct opinion from the public. The various business sector that are influenced by social media includes 71% educational sector, 63% electronic sector, 43% apparel sector, etc where people engage in social conversation and discussion about the products/service.
Existing ecommerce sites can be made attractive by introducing the call-to-action social media buttons which can help for conversation with the public to get their ideas and opinion. The end user feedback plays a key role in the success of ecommerce sales. Videos on YouTube can be influential factors for decision making. Strategies can be drawn to reach the unsatisfied customers and solve their issues to convert them as a loyal customer using the support of social media which gives a personal touch to the conversation.
The number of people who are actually clicking the link on social network can be tracked easily using many tools like bit.ly. These analytics can be useful to make tailor-made messages and provide the customers what they like which may lead to enhanced sales.
Some of the tips to utilize the social media to maximize profits are discussed below.
1. Social network can be helpful to know your typical customer such as their location, gender, age etc which can be useful for marketing.
2. Identifying the right keyword that are relevant to the business can be helpful to streamline the marketing.
3. Relevant contents should be presented to the customers. The content should be interesting, useful, and interactive to engage the customers.
4. Social media branding with relevant email signature, brochures, business cards, blog posts, social buttons etc must be adapted by the company.
Social media on ecommerce or social commerce is a wide spectrum of field which can be interesting as explored more and more. The online business can be established with the help of social media which helps to handle the people’s relationship with the company and establish brand.