An average person spends 116 minutes on social media every day! This number itself presents a huge opportunity for brands to reach out and showcase their products to over 2.77 billion users. Major social media platforms such as Facebook and Instagram have already introduced social commerce owing to the growth of social media usage among its users.
Here are 3 key social media stats for you to consider:
- According to the Global Consumer Insights Survey 2018, 37% of the consumers use social media to find inspiration for their purchases
- According to the State Of Digital Advertising 2018, social media is the most relevant channel for Millennials and Gen Z
- The 2018 Sprout Social Index found that 21% of consumers will buy from brands that they can reach on social media
From the stats mentioned above, it is evident that social media can skyrocket your online sales when used strategically. In this article, we will look at 6 ways to increase your online sales through social media.
1. Invest In Influencer Marketing
In the age of social commerce, brands are diverting their attention to influencer marketing. And there’s a reason behind it. People have become immune to traditional advertising, and they seek opinions of trustworthy people before making a purchase. According to a research by Twitter and Annalect, nearly 40% of Twitter users made a purchase decision based on a tweet by an influencer.
If you want to increase sales, you need to invest in influencer marketing. Since influencers have ardent followers, they are prone to make decisions based on the opinion of the influencer.
There’s a new type of influencers known as ‘Micro-influencers’ that is gaining prominence in the social media space. These influencers create content on a specific topic and have a dedicated community. Through these influencers, you can activate their community by giving away exclusive coupon codes and discounts.
Here is an excellent example of micro-influencers in action. Rob Scallon is a guitarist with over 1.5 million YouTube subscribers. Rob teamed up with VideoBlocks to promote their #Creator2Creator campaign. Here is how it panned out.
2. Create Valuable Content
It goes without saying that content still plays a crucial role when it comes to making a purchase decision. Your buyers perceive you as a trustworthy brand if you regularly put out valuable content. And people are known to buy more from the brands they trust.
One of the excellent strategies to stand out through content is to invest in video marketing. Of course, you can create product close-up or product demo videos, but you can go beyond that and create videos that would provide some value to your audience.
For example, Wampler Pedals is a US-based brand that creates custom designed pedals for guitar. Rather than talking ceaselessly about their products, the brand delivers quality video content that would help guitarists improve their playing and get better tone from their equipment.
3. Retain Your Audience Via Remarketing
One of the common problems brands face is that they are able to drive a good amount of traffic to their website, but they are not able to convert them into paying customers. Marketers and store owners need to remember that it takes multiple touchpoints and website visits to get a visitor to trust your brand and make a purchase. An effective way to strengthen brand recall is to use the remarketing technique. Remarketing is an effective way to keep reminding your visitors about your brand.
E-commerce stores can utilize dynamic remarketing ads to show products left in the cart to individual users. Dynamic ads are tailored to each visitors hence highly likely to bring in more revenue when used in conjunction with contemporary social media advertisement formats.
Bonus Tip: Wouldn’t it be amazing if you can find people who are similar to your existing buyers? Lookalike Audience does precisely that! You can significantly widen your audience base by finding users that share similar traits to your customers. This feature is currently offered by Facebook and LinkedIn, and you can integrate it into your paid ad strategy to reach out to users that are highly likely to become your customers.
4. Shopping on Instagram
Earlier we talked about social commerce, let’s now look at how you can integrate it into your social media strategy.
With 1.1 billion+ monthly active users, Instagram is one of the leading social media platforms. Instagram introduced the Shopping on Instagram feature that allows brands to showcase products through organic posts and stories. People can also find such products through the Search & Explore tab.
Below are the criteria to be eligible for Instagram shopping:
- You must sell physical goods
- Your Instagram account must be a business profile
- Your account should be connected to a Facebook page
- Your business must be based out of one of these regions
Here is an example of Nike Football using Instagram Shopping in their post:
5. Launch Your Facebook Store
Continuing our discussion of social commerce, let’s talk about how you can use Facebook to your advantage. Facebook has over 2.32 billion monthly active users. You can sell your products directly to these users without having them to leave the platform. All you have to do is to add the shop section to your Facebook page.
You can view the requirements to set up the Facebook Shop section here.
Here is how Metallica use the Shop feature to showcase their merchandise:
6. Encourage User-Generated Content
What do you do when you want to purchase a product, but barely know anything about the brand? You are likely to go online and read product reviews on different websites. You might also visit their Facebook page to read customer reviews or visit Twitter to see what people are tweeting about the brand. This is the power of user-generated content.
While encouraging people to rate your products and leave reviews is a great strategy, you can go one step ahead and ask your buyers to post photos or videos on their social media profiles, preferably using a hashtag.
Apple encourages its iPhone users to share photos clicked through their iPhones using the #ShotOniPhone hashtag. There’re over 6.9 million posts on Instagram using the hashtag. That’s the power of tapping into your community!
While social media often gets a bad rap for not being a good marketing medium anymore due to the dwindling organic reach, you can still get the best results if you try out these tactics.
And the most important thing to do is to figure out the platform that works for you and concentrate more on it.
As social commerce gets more refined in the future, you should make it a part of your strategy. The key to increasing sales is to reduce any friction that might derail the user from completing the purchase.
Which tactic among these are you going to implement in your social media strategy? Let us know in the comments below!