Satguru Technologies

If you’re active on social media platforms like Instagram, Facebook, TikTok, and others, you’re probably aware of the trend where people are utilizing these platforms to sell items they no longer have a use for, ranging from clothing and cars to landscaping materials and furniture, among other things. Considering the vast user base of almost 5 billion people on social media, it’s not surprising to observe this trend developing.

Describing Social Commerce

Social commerce refers to the practice of utilizing social media platforms for the purpose of selling products and services. These sellers can range from individuals to businesses. While these platforms were initially designed for sharing images, memes, and photographs, many of them now include built-in features for conducting commerce. Notable examples of such platforms encompass TikTok, Facebook, Instagram, Snapchat, and Pinterest.

As per Statista’s data, the global sales facilitated through social media are projected to reach around $1.3 trillion in the year 2023. This figure is anticipated to experience a substantial increase, reaching nearly $3 trillion by the year 2026. Beyond the existing trend of users selling goods and services, specific demographic groups, such as millennials and Generation Z, are increasingly using social media platforms as search engines when seeking items to purchase.

The practice of selling on social media has gained immense popularity, particularly in Asian countries. Notably, statistics indicate that approximately 90% of individuals in Thailand have engaged in purchases through social media platforms. In the United Kingdom, 54% of buyers have completed transactions on TikTok, while in the United States, it is estimated that 36% of social media users will make purchases directly through these platforms. These insights are also drawn from Statista’s research.

The Social Media Shopping Experience

If you’ve spent any time browsing through platforms like Instagram or TikTok, it’s highly probable that you’ve come across some form of celebrity—whether an actor or an athlete—endorsing a specific product and motivating you to make a purchase. Moreover, you’ve likely encountered virtual shops and merchandise within marketplaces across various social media platforms.

Commerce in a Changing World

The global pandemic in 2020 brought about significant changes in how individuals engage with their surroundings and accomplish daily activities. One notable area of transformation is in the realm of shopping. An interesting development during this period was the emergence of live streams as a tool for influencers. Consequently, their followers began making purchases based on the products these influencers endorsed or suggested. This novel approach, often referred to as “entertainment selling,” has persisted as a popular trend worldwide.

The concept underlying entertainment sales revolves around presenting brief video content to users on their social media feeds or within sections labeled “suggested for you.” The concept is rooted in the notion that this precise marketing approach speeds up the decision-making process for purchases. These videos integrated into users’ feeds are tailored to their specific audiences through the utilization of machine learning algorithms. As a result, the products or services showcased often hold relevance for the users, thereby significantly enhancing the chances of a purchase.

There is typically a “store” option on social media sites that leads straight to the shopping section of the app. On Facebook, for instance, you may search for specific things or just browse the goods and services that other users have listed for sale using the “Marketplace” feature. Another illustration is TikTok’s product display option, which enables visitors to view videos and live broadcasts that advertise particular products.

What Should You Know Before Selling on Social Media?

Expanding your business’s presence on social media to leverage it for sales is a valuable strategy for both established and emerging businesses. When contemplating the integration of social media sales into your operations, it’s crucial to take certain factors into account.

  • Simplify the buying process for your customers. This represents a valuable opportunity to create a positive initial impression and engage with potential buyers, so ensure it leaves a lasting impact. After they’ve discovered your presence, leverage this opportunity to direct them to your online store or website, facilitating their access to purchase your products or services. By implementing a few additional steps, you can streamline the path for them to become loyal customers.
  • Establish both a customer base and a community as you leverage social media to extend your brand’s reach. Your objective is to connect with a substantial number of potential customers, maintaining a balance between being top-of-mind without overwhelming or annoying them. Selling through social media offers a dual benefit as it enables you to both interact with your customers and conduct sales on the same platform.

From a statistical perspective, social media stands out as an exceptional avenue for boosting brand awareness. An illustrative example of this is the fact that, as per a user survey conducted on TikTok, 79 percent of users found new brands through the platform.

  • Utilize client data to boost efficiency. The majority of companies include social media in their sales and marketing plans. Brands that use a variety of social media channels are far more successful. 

You can decide which items to feature on social media and how to persuade them to buy your products instead of those of your competitors by studying social media data through live streaming, specialized advertisements, or direct messages.

In Conclusion

Integrating social media sales with your website serves as an excellent complement. Furthermore, it unlocks fresh channels for potential buyers to discover you and your brand.

Engaging in marketing and selling products through social media aligns with the strategies of numerous brands and businesses. It serves as a means to raise awareness about your offerings, boost sales, and expand your customer base. By closely monitoring trends, you can refine your marketing tactics to further drive sales and attract new clientele.

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