#Facebook #shops or the development of #social #commerce
Op-ed by Damien Landesmann, Vice President EMEA of Socialbakers
Facebook recently announced the launch of Facebook Shops on.
This is an attractive proposition that could help small businesses stay afloat during the pandemic. Most importantly, it helps businesses and brands of all sizes showcase their products and close sales without shoppers having to leave Facebook or Instagram. The potential is enormous: The Facebook Shops function offers companies the opportunity to access a community of 2.6 billion people, arouse their interest in relevant content and quickly lead them into the marketing sales funnel. To make purchases on an unprecedented scale. With the introduction of shops, Facebook added an essential element that enables the user to benefit from a full customer journey from discovery to purchase without ever leaving the platform.
Facebook shops also offer a unique opportunity. for advertisers. In fact, so far, Facebook has mainly been used as a product discovery channel. The platform had little or no insight into the products (if any) that each individual was actually buying. In other words, since marketers took the customer journey to their ecommerce website to complete the purchase, they only saw a tiny portion of the customer journey and the top of the sales funnel.
Facebook Shops eliminates many gaps in customer buying behavior. With the addition of a real social commerce component to the platform, Facebook now has much better information about actual purchase intentions. This data from Facebook stores can help advertisers re-target customers who haven’t made their purchase. Companies that want to use Facebook stores are likely to increase their advertising investments in order to entice consumers to buy their products on Facebook or Instagram. The ability to increase the platform’s advertising revenue has won over the markets, as demonstrated by the rise in the Facebook share price when the first announcement of the launch of shops was made.
E-commerce has been around for decades, but with the introduction of Facebook shops, online social commerce is at a new turning point in its existence. As Instagram’s sell and buy functions have evolved over the past few years, Facebook Shops is taking social commerce to a whole new level. As people discover and use more products via social media, brands and users will benefit from enormous advantages when they can shop directly without leaving the social network. Emarketer recently reported that over 75 million US social media users ages 14+ will make at least one social media purchase in 2020, up 17.3 percent year over year 2019. Our forecast: Ultimately Social commerce and e-commerce become one.
Facebook is the largest social media platform for starting a strong social commerce offer. but she is not the first. Asian social media platforms are the real pioneers of social commerce. WeChat is more advanced than any Western social commerce platform and already offers mini-programs that allow consumers to discover and buy products without having to download another app or redirect to another website. According to WeChat, there were over a million WeChat mini-programs in over 200 industries as of October 2019.
It is important to note that the customer journey in social commerce is inevitably very different from that of traditional e-commerce customers. This is because social commerce requires particularly engaging, immersive, and interactive content, while current e-commerce can get away with using basic product images to increase sales. This is unlikely to work with that. Social commerce. Facebook is uniquely positioned to become a leader in social commerce not only because of its unmatched size, but also because this social network has so many options to create an interactive shopping experience, from live streaming videos of people who interact with the product using Virtual Reality (VR) or Augmented Reality (AR) to allow consumers to try out products in a virtual environment.
And since Facebook allows brands and developers using its live streaming tools to tag products on their videos, we may even see QVC-like shopping channels on Facebook and Instagram leaving influencers theirs Promote sponsors when they go live.
In short, online shopping in the western world could be changed forever with the launch of Facebook shops. Consumers can easily find a business through their Facebook page, Instagram profile, or by swiping their finger over their Instagram stories. Once they find a Facebook shop, the most innovative brands will use their creativity to encourage them to shop directly through the platform. For its part, Facebook will use the opportunity to offer advertising solutions for the entire customer journey.