Social commerce has come a long way in a short time, evolving from a basic “link in bio” to seamlessly integrated, immersive cross-platform shopping experiences. Now, marketers can create curated on-platform stores and test compelling shoppable ad formats that create a more personalized shopping journey. From Pinterest Product Pins to TikTok Shop, there are endless opportunities for brands to entice consumers to “buy now.”
#TikTokMadeMeBuyIt
Shoppable content and ease of one-tap social shopping is converting consumers from browsers to buyers. In fact, eMarketer’s projects that social sales will exceed $100 billion by 2025.
- Nearly half (47%) of US consumers have made a purchase through social media, while 6 in 10 (58%) are interested in doing so.
- Another 39% of US consumers have made a purchase through social media and would do so again.
- 34% of consumers would be more interested in shopping on social media if they knew how their data was being kept secure.
- 46% of US consumers have made a purchase through a livestream event and would do so again.
Revolutionize Your Social Strategy for 2024
As consumers increasingly use social as a search engine and more brands jump on the social commerce bandwagon, it’s important that marketers constantly evolve their social strategies to utilize all the features and tactics available to effectively convert consumers. Here, our social team offers three ways to revolutionize your social strategy for 2024.
1. Influencer Marketing 2.0
The efficacy of influencer marketing lies in its ability to humanize brands, fostering authentic connections with consumers. That said, the days of the one-and-done brand posts are over. Consumers have grown skeptical of big-name influencers claiming that a brand of mascara is the best they’ve ever tried, only to hear that same influencer say the same thing about another brand a week later. Savvy consumers know that influencers are paid for #sponsored posts and, if there’s too much sponsored content on an influencer’s feed, followers will call them out on it.
Increasingly, we’re seeing new ways that brands and content creators are working together to drive revenue. We know that consumers are more likely to trust recommendations from influencers who genuinely use the products they recommend, especially when they have smaller, niche audiences and authority in a specialized field such as beauty, fashion, or food.
When micro-influencers (those with followings between 1 and 100K) endorse a product or service, it feels like a genuine recommendation from a friend. When micro-influencers have long-term relationships with brands, their recommendation holds more weight and fosters trust because they are not perceived as being transactionally driven—rather, their sincere affinity for the brand and its products. As part of your social commerce strategy, consider long-term partnerships with several micro-influencers who have specializations in your niche. Contract them to create content for various platforms that your audience is active on (TikTok, Instagram, Pinterest, YouTube) and be sure that they integrate shopping tactics (tags, etc…) on each post to drive commerce. You’ll find their value is driving primarily top-of-funnel traffic and sales through authentic, original content.
2. Create Shoppable Content
Social media platforms have seamlessly integrated shopping features into content, revolutionizing the way consumers discover and purchase products. Platforms like Instagram, Facebook, and Pinterest allow businesses to tag products in their posts, making it easy for users to seamlessly discover and purchase items.
Additionally, short-form videos, such as TikTok and Instagram Reels, have become popular channels for shoppable content, enabling businesses to showcase products in a fun and engaging manner. For example, with shoppable posts and tags, Instagram provides a seamless experience where users can tap on a product to see its details and pricing without having to leave the app. Other features, such as the Explore page and Shop tab, allow users to explore products based on their interests and past social behavior. These tools increase your product visibility and exposure, ultimately attracting new customers to your brand.
Finally, the ease of in-app purchasing encourages impulse buys (guilty!) and transactional data gathering (“sign up for emails or texts and receive 20% off your purchase!”). These streamlined, frictionless checkouts give consumers less time to second-guess their purchases, also increasing the likelihood of a sale.
3. Integrate AI-Powered Personalization
The integration of Artificial Intelligence is reshaping social commerce, empowering businesses to deliver hyper-personalized experiences tailored to individual preferences. In 2024, AI algorithms analyze user behavior, preferences, and past purchases to recommend products tailored to individual customers. This level of never-before-seen personalization both enhances the user’s shopping journey and increases the likelihood of conversion by presenting them with products that align with their interests.
What else is on the horizon for social commerce in 2024? Recently Meta introduced a suite of AI-powered automated business tools to help marketers maximize the value of each ad impression and deliver superior results. Advantage+ Shopping Campaigns is one of the fastest-growing ad products in Meta’s history. TikTok is currently testing an ad tool that will scan videos and sell you similar products to those seen in them. This inspires consumers with e-commerce that mirrors an in-store experience through visual inspiration, guided discovery, and product advice… and it uses AI to do it at scale, re-engage the consumer, and guide them to a brand’s site. Expect to see exciting new opportunities as AI evolves and platforms develop new ways to integrate it into the shopping experience.
To make the most of social commerce in 2024, businesses need to adopt strategies that align with the preferences and behaviors of modern consumers. Revolutionize your social media strategy by unlocking the potential of social commerce with three strategic approaches that seamlessly integrate platforms like Facebook Shop, Instagram Shopping, Pinterest Product Pins, and TikTok Shop for enhanced engagement and revenue opportunities. Contact the experts at Inspira today for help getting started.
This article has been published in the Association of National Advertisers (ANA) Marketing Knowledge Center. Click here to visit their blog.
Written by Greer Hardy
