Social platforms have become more sales-focused today. The transformation can be attributed to the companies that consider social platforms as commercial platforms. Today, we can even witness small businesses trying to have a robust presence on social media. In the present times, a newly launched B2C company reaches its target audience mainly through social platforms. This article will shed light on the factors that will make social media the epicenter of e-commerce in the coming years.
The Exponential Growth of Influencer Marketing:
Today, many B2C brands have better conversion rates through influencer marketing rather than promotions on other channels. It is predicted that the influencer marketing industry will be valued at a whopping USD 24.1 billion by 2025. E-commerce companies feel that none helps them in getting closer with their target audience as influencers do. Brands make such statements because many influencers maintain a strong relationship with their audience through their content or regular interaction. Hence, companies are investing hugely in these influencers to achieve a higher conversion rate at a swift pace. Since social platforms are the home for influencers, social commerce will only boom further in the coming years.
Instagram, which is one of the potential social applications for B2C marketing, has introduced its influencer dashboard with data about the influencers present on its platform. This will ease the process of decision-making for brands when it comes to choosing influencers. Since influencer marketing has become vital, influencers have started using paid services to drive e-commerce firms towards them. Services like Trollishly are primarily preferred by influencers owing to their exceptional service.
Social Platforms and Customer Relationship:
Social platforms are playing a vital role in sustaining customer relationships. People have started to raise their queries on social applications, especially on Twitter by tagging the related company. Hence, brands need to have an active presence on social platforms. Considering this transformation among the customers, brands are utilizing chatbots. AI-powered chatbots are capable of handling customer queries to a certain extent.
Even notable brands like Domino’s Pizza and H&M have their chatbots on Facebook Messenger. Hence, social platforms have become crucial for brands to sustain a healthy relationship with their audience. If brands fail to respond to customers or show less interest, it will directly impact their reputation. Hence, brands must be present on social platforms.
Eases The Process of Customer Approach:
One factor that will make brands stay on social platforms is the fact that these platforms allow brands to approach a prospect directly. For instance, if a B2C company finds a potential prospect on a social platform, it can create a personalized message and drop it in the prospect’s inbox. Since people are active on social media, they will probably view the message and take action. Thus, social platforms allow brands to get in touch with a prospect directly and also allows knowing the prospect’s response. For instance, a brand can find if a prospect sees a message and doesn’t take any action. Such possibilities have been making brands promote them on social platforms.
Wide Spectrum of Possibilities for Promotions:
One factor that won’t make brands leave social platforms is the fact that these applications have the environment to try various marketing tactics. Hence, if a strategy doesn’t work well, brands can switch to another. For instance, social platforms fit perfectly for marketing tactics such as conversational marketing, personalization marketing, etc. Thus, you have a wide range of marketing approaches on social platforms. But this is not the same with other channels of marketing, including the traditional medium of marketing.
The Rampant Growth In The Minimal Duration Videos:
Today social platforms are filled with a massive chunk of minimal-duration videos. This is because the present social media users are only fond of such forms of content. The stories section of Facebook, Instagram are ideal examples where short-duration content could be seen in large numbers. Since many social platforms are already a perfect fit for shorter-duration content, brands can come up with promotional content without any hesitation. Owing to this characteristic of social platforms, e-commerce will give importance to them for marketing. In such a way, various factors have been making e-commerce brands, and B2B businesses choose social platforms.
Brands are investing huge money into social platforms for promoting them. They are anticipated to continue this in the coming years since they have a better conversion rate through social media promotions. Though social platforms are said to be giving priority to e-commerce, users don’t feel so as they haven’t uttered that they are bombarded with product posts in the feed. Thus, social platforms balance both the users and marketers and give complacence to both groups.