Social commerce is a part of the electronic commerce industry that involves the use of social media platforms to promote and sell products as well as services. In simple definition, social commerce is doing eCommerce activities on social media platforms. Some examples of social commerce tools include Facebook business pages, Instagram shopping and many more.
Why should your business consider engaging in Social Commerce?
There are approximately 25 million Facebook users and 11 million Instagram users in Malaysia. However, not many businesses in Malaysia are taking advantage of this huge population to sell on social media. Think about the amount of time a consumer spends on social media and you are not promoting your products there. It is a waste of business opportunity. You might be doing very well selling on your webstore and marketplaces; however, if you want to stay ahead of your competitors and keep up with changing consumer behaviours, it’s time to consider going into social commerce.
What are the benefits of selling on social media?
1) Better engagement and traffic
Social commerce has been proven useful in increasing website traffic and eventually influencing content rankings on search engine results. Sharing your content links through social media is definitely an excellent way to drive traffic to your website. Businesses nowadays are getting more creative with contents like gifs, videos and images to effectively share messages with their target customers. This method not only increases engagements with customers, but also helps to bring in more traffic.
2) Free shares & recommendations
Social commerce tools enable customers to comment, react and tag friends on various product posts in social media platforms. These are free social media – word of mouths, that will help you to reach more potential customers without having to pay a penny. Your customers’ shares and recommendations are important and they play a role in helping you build a strong and trusted brand.
3) Use customer insights in remarketing to improve conversion rate
One of the advantages of social commerce is you can gain insights on your customers. Facebook collects multiple data of your visitors that can help you run remarketing advertisements later on. For example, you may run ads targeting past visitors of your page, further enticing them with coupons or freebies to complete their purchase.
4) New market opportunity
There are 25 million Facebook users in Malaysia. That accounts for approximately 77.4% of the entire Malaysia population! This is a huge population and there are plenty of advantages that businesses in Malaysia could gain from penetrating the social commerce market. Social media platforms are bound to open up more eCommerce opportunities and help businesses grow in their respective industries.
Have you ever thought of being a social commerce seller? SiteGiant provides you with the social commerce solution that can help you sell on Facebook and Instagram effortlessly. Interested to know more? Click HERE for more information.