Socio-Commerce - The Tomorrow Business

May 11, 2020

Riding a bike for the first time, diving into the swimming pool as a novice swimmer or for that matter, proposing to someone for the…let’s just stick to keeping this for the first and last time. Jokes apart, we completely understand the feeling of being out there for the first time in no matter what you do and to be honest, it isn’t a comfortable spot. Similarly, we were all introduced to social media just over a decade ago and it has taken quite some time for this mode of communication to get across to the older generations.

 

Truth be told, everything we do as humans is difficult for the first time before it becomes easy with practice. History has taught us that trade and commerce lay the foundation for any developed country. Our ancestors have managed to grow the nations ever since the Industrial Revolution in the 17thcentury. The comfort zone for running a traditional business exists in at lea stone member of every family present on the planet. Although, this inheritance of a revenue generating gene can help in the long run, it is crucial to pause and see the world of commerce evolving rapidly around us.

 

With technology comes change and adaptable businesses are the fittest survivors in this war. Let us take you back to the times when all a person could do is drive down to the stores and purchase a gift for their beloved on a special occasion. Fast-forwarding the timeline to the millennials, who have reached a level of impulsive buying based on suggestive ads on various occasions in their lives. Honestly, no occasion is the best occasion to shop these days. Now, a computer tells us what it thinks, based on our buying habits, about what we should purchase.

 

You’re probably thinking what any of this has to do with social commerce or as how we like to call it, Socio-commerce! Some call it a technique; others say it is all based on luck and very few would even call it a hoax. We would rather title this blog as, ‘Make Money Now’ or ‘How Can I be a Millionaire in less than a year?’. That being said, Pursocial truly believes in the unfailing power of across between social media platforms and ecommerce, namely Socio-Commerce.

What is Socio-Commerce?

To break this hybrid down, ecommerce refers to purchasing over a website like Amazon or a dedicated website like www.apple.com. Not just that, purchases over the dedicated apps on our smartphones is also what ecommerce is made up of. With over 2.7 billion active users in the world during the first quarter of 2020,Facebook tops the chart as the most famous social network worldwide. Send it tome over the messenger, DM me the client details or take a Snap are just few slangs that we commonly use and hear these days. Yes, you’re right! This is what the world of social media looks like.

 

Social Commerce is not simply selling the goods on various social platforms. It is truly an experience that makes interacting while shopping easier. During these uncertain times consisting of frequent lockdowns due to COVID-19, we are sure you’re missing the entire shopping experience of the malls like talking to the sales person about the products and services to the sweet smile of the cashier who dropped in an extra coupon in your bag to ensure you come shop soon the next time. Well, the next best or the most convenient thing is a Social Media Shop. Without giving up on the interaction, now a business can be represented over a chat box or discovery call on a social media platform. Unlike the golden days of the 90’s where people were the true source of marketing(word-of-mouth), a customer can simply check the reviews of the product from thousands of people and take a decision of the purchase.

 

What is the Social Commerce benefit over the existing e-commerce website/app?

Without the need of standing in a que or taking the time out to visit the mall, you can simply view the product and buy it instantly over the social media. There are always exceptions like purchasing a PlayStation 5 during the 2020 holidays. Agray area in the purchasing journey is where the customer might drop the idea of buying the product because either your website has various steps involved before the buyer can checkout or the app has crashed. This is where the fast, responsive medium comes to the rescue. Social media shop is one step ahead of closing your next sale.

 

Here are the top 3 social media shops that you should consider setting up before starting2021.

 

1) Facebook Shop

 Soon after the pandemic hit the world, in May 2020, Facebook took the giant leap in adding the e-commerce feature of a shop for small businesses to sell more and faster online. According to Mark Zuckerberg, “We’re seeing a lot of businesses that never had online presences get online for the first time and we’re seeing small businesses with an existing online presence make this their primary way of doing business.” Facebook shops is a highly customizable like the businesses can choose to products to display on the cover image and add different color schemes to showcase the look and feel of the brand. Partnerships with ecommerce giants, Shopify is going to reap unimaginable rewards for the businesses. Existing Shopify merchants or any other third-party ecommerce shops will be using the customization of Facebook as the store fronts to attract more customers. With maximum number of online users, Facebook definitely deserves the first place as the most important social media shop.

 

2) Instagram Shop

 Accessible from Instagram’s main menu, the Instagram Shop now has a dedicated button to ensure that you don’t miss out on the latest deals available on the platform. Every time you scroll down on the feed, someone is getting married right? How about diverting all the attention to the new basket-like navigation button on Insta for as long as you’re reading this bit? From browsing shops to checking out the editor’s picks and exploring guides to shopping collections, the Instagram shopping button has made the entire shopping experience more streamlined. Based on previous engagements on posts, the machine learning platform is artificially sane enough to send across some really apt suggestions of products to buy. Augmented reality of products on Instagram like seeing yourself wear the sunglasses or cap in the selfie camera of your phone is just the tip of the iceberg to what this new medium is capable of.

 

3) WhatsApp Shop

The messaging app, WhatsApp has recently introduced a shopping button on it’s widely used app. Just like the Facebook and Instagram shops, the WhatsApp shop makes it easier for customers to go through the business catalog and make purchases. According to the WhatsApp team, more than 175 million people message WhatsApp business account on a daily basis. This feature is available on WhatsApp Business Account profiles and the storefront looking icon once tap Pedon, opens up the catalog to view the items. WhatsApp is slowly transforming into the business messaging app and with its user base it will reign over all other message platforms.

 

Right now, its seems like a difficult time to get started with opening social media shops,right? It is the most fruitful period to do so. Think of it like this, if it was easy everyone would be doing it and your business would’ve gone for a tossing the years to come where we’d be running chores through robots.

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