Over the years, we’ve seen the evolution of social media marketing, from simple product placements to expensive ad campaigns by the major players who seem to have ample funds to spare. For a long time, many businesses assumed the social game wasn’t worth playing – but it’s quite the contrary. Social media platforms provide a huge opportunity for businesses to grow and engage with their community of current and future customers.

But how does social commerce differ from e-commerce? What are the benefits and where should you prioritise your marketing funds? Keep reading because we’ve got your complete guide to social media marketing right here.

What is social commerce?

At its core, social commerce differs from e-commerce because of the process of marketing, buying and selling products on social media channels like Instagram, Facebook, TikTok, Twitter, Pinterest and more. This type of marketing allows companies to engage more naturally with those interested in their brand and services, which leads users further down the sales funnel.

Social commerce is a strategy to help businesses expand their e-commerce presence to social media channels to reach a broader, mobile-first audience. The FIS Generation Pay Report found that 70% of millennials and 78% of Gen Zers buy directly on social channels. And data from Statista revealed that at the beginning of 2022, more than half of Gen Zers and millennials visited a brand’s social media store at least once. Social commerce isn’t a passing trend but has proven its staying power and offers many benefits to businesses, big and small.

What’s leading the rise of social media marketing?

In a study conducted by We Are Social and Hootsuite, internet users aged 16 to 64 were asked what their main reasons for using social media were, and nearly 28% indicated that it was to find inspiration for things to do or buy. Additionally, 26% revealed that it was to find products they could buy.

Your customers are already on these platforms, and by adding social marketing to your strategy, you can tap into new markets, engage with existing customers and increase sales. Through social media marketing tactics such as creating engaging content, responding to customer inquiries promptly and developing relationships with potential leads, your business can become more visible than ever before. Additionally, social platforms have a ton of built-in analytics that can give you deeper insight into who your customers are, what they’re interested in and how you can position your business to be at the forefront of their minds.

What tools and platforms are best for my business?

Social commerce tools allow businesses to interact with potential customers in a more meaningful way than other marketing channels such as search engine optimisation or email campaigns can provide.

Some of the top social commerce tools include:

• Shoppable posts – Allow your followers to browse and shop directly from social posts across social channels. You can tag one or more products in images or videos to showcase your products natively on your channels and give users a way to buy them.
• Shoppable ads – Similar to shoppable posts, shoppable ads take it a step further by allowing you to tailor your content to a specific audience and are typically part of a paid social campaign. You can target certain consumers who may be potential customers, or these ads can act as a reminder of products shoppers viewed but didn’t purchase.
• Livestream shopping – Gain the ability to connect with potential buyers via livestream video to interact in real time, demonstrate and discuss products and answer customer questions.
• In-app messaging – Direct messages (DMs) allow your customers to ask questions and get product help. In-app messaging is also useful to help customers discover products or provide payment links for a quick checkout.

Facebook and Instagram are currently the key platforms for social media marketing. Facebook Shops allow customers to search for a product, add it to their cart and check out with a verified payment method. Customers can also leave product reviews and contact the business directly within the single application.

Instagram engages shoppers through photos, reels, stories, live broadcasts and ads. Businesses can build an e-commerce storefront, allowing customers to browse products and collections. Shoppers can also find products from your Instagram Shop in other places on the platform using product tags.

Other social platforms on the rise in the social marketing space include TikTok, Pinterest and YouTube. TikTok uses an algorithm that engages a wide range of audiences, trends and interests, so it’s a great place for businesses to promote and sell products.

Pinterest is known as a vision board and a go-to place for inspiration and product discovery. Businesses can display, organise and create Pinterest boards to connect shoppers to their online store.

YouTube is an excellent place for businesses to create shareable video content like how-tos, product demos and user stories to market products.

How do I build my social commerce strategy?

Social commerce is becoming more popular by the day, and businesses are actively seeking ways to tap into this potential. In the world of social media, engagement is king, and it’s all about finding ways to connect with your audience on platforms they’re already using.

Start by choosing a few of the best-selling products you want to sell. Remember, social marketing allows you to reach a wider audience, so you’ll want to promote products that you know will appeal to a large pool of potential customers. Additionally, businesses must focus on developing customer loyalty through offers or discounts exclusive to their social followers. Think about how you want to attract and encourage users with giveaways, freebies and discounts to promote your social commerce campaign.

You can also consider partnering with influencers to promote your products; this allows you to tap into their specific audience without reaching out to potential market verticals individually. And finally, customers will always trust real reviews over whatever the brand says about itself. Showcase real customers by asking for feedback. Doing so allows your customers to feel valued and heard and helps build social proof.

How can I streamline my online selling setup?

The social platforms are out there, and your target customers are using those platforms, but how do you capture the payments? Worldpay is a global leader in payment processing with expertise as a payment gateway provider.

Contact us today to learn how we can link your online shopping basket to our hosted payment page or integrate our payment gateway directly into your website for even greater flexibility and control when it comes to social commerce solutions.