Top 6 Social Commerce Platform Examples That Can Transform Social Media Into Revenue Generators in 2023
The social commerce platform is a prominent marketing and sales strategy among eCommerce and online firms that have grown in popularity recently.
Businesses and brands continually search for ways to include social shopping in their marketing initiatives. As a result, the size of the global social commerce industry, estimated to be worth USD 589.91 billion in 2022, is expected to increase at a CAGR of 30.8% from 2023 to 2030.
If you run an online store, you are aware of the difficulties in attracting customers to your website. But, even if you can convince a handful of them to buy from you, how regularly do they do so?
The social eCommerce revolution has eliminated the need for significant upfront investments and the difficulties associated with eCommerce expansion by bridging the gap between engaging consumers and turning them into customers.
We now refer to a social commerce platform due to the growth of social commerce. Learn about social commerce platforms and how they can revolutionise your brand’s online sales and success.
What is Social Commerce Platform?
The ability of brands and organisations to sell goods and services through social commerce platforms, content, and other features is perhaps the best way to describe a social commerce platform.
Social networking has historically been utilised as a marketing technique to boost eCommerce sales and conversion rates.
With social shopping, customers no longer have to transfer eCommerce platforms; thus, things have changed. Without leaving the social media site, the entire process of investigating a brand’s items, looking at the specifics, and finally checking out is completed.
Brands uploading content with shoppable tags on it is where it all begins. First, users select the products by tapping on the shoppable tags whenever they come across these postings. Then, they proceed to the checkout page by following a few simple steps.
The evolution of social commerce platforms has allowed businesses to extend social shopping options outside social media. On their websites, in email campaigns, in e-commerce stores, and elsewhere, marketers can create and distribute shoppable social galleries.
Platforms for social commerce have experienced a considerable surge thanks to their user-friendly characteristics.
WareIQ, an eCommerce fulfillment company, empowers online brands with a superior-tech platform to compete with Amazon like service levels by bringing their average delivery timelines from 5-10 days to 1-2 days.
What are the Benefits of Social Commerce Platforms?
There are many advantages for businesses that develop a presence on social commerce platforms. For starters, social commerce platforms give firms looking for steady audience growth a ready-made following. Facebook, Instagram, TikTok, and other social networks welcome new users daily. For businesses involved in social commerce, each new user represents a possible new consumer. Although the “clients” must be pertinent to the company to be valuable—for example, stairlift sellers are unlikely to benefit from new teens joining TikTok—brands are nonetheless likely to come into contact with prospective new customers every day.
Social media brand engagement has been shown to improve search engine rankings. Even if you sell directly on a social media platform, some users will visit your website to look at your products and other stuff. Google will see this extra traffic, likely affecting how well its searches are ranked.
Communication with potential clients is encouraged through social commerce platforms. You have the chance to get customer feedback because social media is a two-way conversation. Word-of-mouth spread through social media can help you meet more individuals. By fostering new connections, you can later develop and strengthen these connections. This is what a social commerce platform does. Purchases from satisfied clients are more likely to occur.
Top 6 Social Shopping Platforms Examples to Step Up Your Online Business
Other social media platforms like Pinterest, TikTok, and even Snapchat increase their offers, while Instagram and Facebook continue to set the bar for social commerce features. Every social commerce platform has unique advantages that characterise how it approaches serving a particular purpose and attracting a certain audience.
To help you choose the finest social commerce platform for your company, we’ll examine some of the leading platforms’ essential aspects here.
Meta’s Facebook has recently led the way as a social commerce platform. Brands now have the opportunity to build online storefronts or stores where customers can browse and eventually make purchases from within Facebook, thanks to the platform.
The 17-year-old platform has massive potential for utilising new audiences and growing internationally, with roughly 3 billion monthly active users in 2023.
Facebook Shops helped small and medium-sized businesses shift online and establish shoppable storefronts when it was launched in 2020 during the pandemic. You can upload an already-existing product catalogue or make a brand-new one on the website with Facebook Shops, which are entirely configurable, free to use, and mobile-friendly.
The online shopping features Facebook Marketplace, Native Checkout, and Live Video Shopping have all been combined into one product called Facebook Shops. According to Facebook, “any seller, no matter their size or budget, can bring their business online and engage with customers wherever and whenever it’s convenient for them.” In addition, businesses may establish custom collections and categories within Facebook Shops to reach customers better.
Facebook personalises the customer experience once they have located your page and products by showing products based on the shopper’s specific tastes and search history.
The customer can finish the transaction on the Facebook platform or return to your e-commerce website. Additionally, you can contact the client via Facebook Messenger if necessary to respond to inquiries and provide assistance.
There are still ways to use this social commerce platform if a firm doesn’t have access to Facebook Shops or Facebook’s native checkout. In addition, users can purchase from local and online merchants using Facebook Marketplace without leaving the Facebook app.
Explore Dynamic Ads, Collaborative Ads, Collection Ads, and Product Tags to increase the visibility of your products if you want to monetize your social commerce platform activities on Facebook.
Related Article: How to sell on Facebook ?
Instagram claims that one in two users use the app to find new businesses, goods, or services. In addition, 44% of users shop weekly on the platform. As a result, Instagram is a terrific tool for brands to reach a wider audience and sell more goods, from boosting brand recognition to offering a better online shopping experience.
Users can purchase items from Instagram Shops featured in photographs and videos throughout the app. Like Facebook, business accounts allow users to display their products through a resizable online storefront. Here, businesses may put up carefully crafted product collections. Every item in an Instagram Shop catalogue has its page, complete with a price, a thorough description, and any images or videos showcasing it.
Firms can use Instagram Shops in various ways to market their goods. Following are a few of Instagram Shop’s best attributes:
- Shopping labels– These let businesses tag their goods in feed posts and Stories.
- Purchase tab– Instagram users can explore, save, and buy products featured by companies or influencers here.
- Advertisements– Businesses can now build Instagram ads with placements on the shop tab. Users can tap through to the storefront or detailed product description by tapping the advertisement, which will display with a sponsored label.
- DM your purchases– Businesses on Instagram allow users to make purchases. Customers can inquire, make purchases, and follow up on their orders.
Related Article: How to Sell on Instagram?
TikTok, a newer competitor in the social shopping platform, is becoming much more than just a tool for sharing brief videos. With the addition of shoppable posts, live stream shopping features, and influencer marketing opportunities, TikTok has become a social commerce platform to be noticed. By 2025, the video-sharing platform is expected to have 48.8 million US users.
TikTok has shopping features, including shops, product tagging, and live shopping. This update would include, according to TikTok, “a range of solutions, features, and advertising tools that empower companies and merchants to engage with their customers effectively.”
The features of TikTok updates included:
- Direct Integration– Merchants may upload products and control everything from shipping to order fulfillment and point of sale, giving them access to a whole commerce experience.
- Partner Integration– Shopify and PrestaShop are now accessible on the platform for businesses who appreciate working with their favourite third-party commerce partner.
- Product Links– Brands can feature one or more goods in an organic TikTok video by including a link to the product details, which users can access immediately.
- LIVE Shopping– Businesses can share dynamic connections to goods and services while interacting with their community in real-time.
- Collection Ads– In their in-feed video advertisements, brands can insert unique, swipeable product cards.
- Dynamic Showcase Advertising– Based on the user’s interests, brands can show them customised, targeted ads.
However, marketers now have the opportunity to use TikTok’s Shopping page to create a shoppable storefront. Users of TikTok can directly connect their static product inventory and enable in-app purchases for their customers by adding the Shopping page to their company profiles.
The majority of users of Pinterest are more interested in the content than the creator, which is its best feature. As a result, Pinterest helps business owners focus more on developing exceptional products and less on building their reputations, as opposed to social media platforms like Instagram and Facebook, where a user’s or brand’s influence may be more crucial.
75% of regular Pinterest users claim to shop constantly. Users of Pinterest are quite active and frequently use the app to begin their buying journeys. Its improved social commerce features make it a fantastic site to shop for goods and a fantastic hub for discovering inspiration.
Additionally, brands can use various advertising options on Pinterest to highlight particular products, such as Dynamic Shopping Ads, which show single image advertisements for products relevant to users’ interests, which include helpful information like delivery estimates, customer reviews, and special offers. Shoppable Collection Ads, which combine lifestyle photography and video for a better buying experience and allow marketers to link up to 24 products, are another alternative.
Pinterest offers various shopping features, including-
- Shop from search– Users can access a Shop tab that delivers 100% shoppable results when they use specific keywords to search Pinterest.
- Shop with lens– Utilize the Pinterest camera to capture real-time pictures of objects in the real world, and the app will display similar, shoppable things.
- Shop from pins – Users will be presented with shoppable products displayed in the clicked image when they click on a pin.
- Product pins– When users click on a product, Pinterest displays pertinent details like the cost, shipping information, and customer reviews.
- Shoppable spotlights– This category showcases hot items hand-picked by industry insiders.
- Shop from boards– Users can browse a separate Shop area on their boards that display in-stock product suggestions inspired by their pinned items.
Shopping List is a new social commerce function that Pinterest also introduced. This more recent feature automatically saves a user’s product pins into the central hub so the pinner may easily retrieve them when it’s time to make a purchase. In addition, users can check product prices, ratings, and pinners can be notified when a product on their shopping list becomes less expensive.
Snapchat is embracing social commerce in fascinating and original ways. The social media network relies on augmented reality (AR) to connect with customers freshly and interestingly. For example, brands can collaborate with Snapchat to develop lenses that users can use to try on clothing, accessories, makeup, and more. Users can then read product details and click a link to purchase using a brand’s web store or Snapchat’s native checkout.
“Snapchatters are already engaging with AR more than 6 billion times every day, and 93% of them are interested in using AR for commerce,” Snapchat recently stated. Additionally, the business unveiled a new shopping lens in January that allows consumers to browse various products in one location. Users will “view details on pricing, colour, sizing, and related items, right from the retailer,” according to their statement.
With the assistance of their scanning partners, Yuka and Vivino, Snapchat is also introducing new scanning features. The software allows users to scan up to 1 million food items to view nutritional data, components, and links to further reading and product purchases.
Additionally, Snapchat offers more conventional shopping options. In 2020, Snapchat said that certain accounts would be able to launch a store within the app, powered by Shopify, to house more long-lasting content like catalogues, lenses, and online storefronts.
According to a Snapchat announcement, more companies and brands can now create profiles with shopping links, which were previously only available to specific marketers and brands. These accounts allow users to access the stores straight from a profile within the Snapchat app by having the Shop button on their Snapchat profiles.
Finally, brands can use a range of advertisements to encourage conversions from the app quickly. With the help of Dynamic Product Ads, Snapchat claims that “you can cast a broader net on the app and find potential customers by presenting them relevant products built directly from your product catalogue.”
Twitter provides eCommerce firms with a vast potential audience thanks to its more than 330 million monthly active users. The platform is tapping its toes into social commerce, but they are not entirely new to the game. The site is primarily renowned for sharing news and short tweets with a broad audience.
Twitter used to offer a direct shopping option on its website. However, in 2017, they removed the “Buy” button. Since then, Twitter has recognised the value of social purchasing and unveiled new features last year, including a “Shop” button on tweets and a Twitter Shopping Card that would help them gain a stronger foothold in the expanding social shopping sector.
Twitter only recently revealed a beta test for Twitter Shops. According to Twitter, “merchants can hand-pick a collection of up to 50 products to present to buyers on Twitter with Twitter Shops. In addition, people may examine products from the profiles of their favourite brands, thanks to the function, which is free to use.
Unbelievably, eCommerce has been implemented into social networking platforms, and these social commerce platform trends aren’t going anywhere. Brands fully utilise it, so you don’t need to fall behind.
As we conclude, perhaps you now better understand some of the best social commerce platforms and the benefits they can have for your brand.
If you haven’t already started building your social shopping account, you might be left behind.
WareIQ As Your Distribution and Fulfilment Partner
With the help of WareIQ’s fulfillment services, you may more easily and cost-effectively distribute your products among many regions, save shipping expenses, and achieve 2-day delivery.
B2B and B2C businesses may swiftly and inexpensively grow their operations across the nation with WareIQ’s extensive fulfillment network.
Our analytics enable merchants to choose the optimal inventory mix to satisfy customer demand while avoiding stockouts, backorders, and deadstock.
WareIQ provides total visibility into business activity throughout the distribution network, driven by top-tier fulfilment technology. You can entrust order processing, fulfillment, and delivery to the capable hands of WareIQ.
From a single dashboard, retailers can monitor inventory levels in real-time, track orders through the supply chain, manage warehouse operations, and more.
To further enhance your 3PL experience, WareIQ also assists you in keeping an eye on key metrics at each location you use, such as inventory turnover, order accuracy, time in transit, and on-time accuracy.
Using this data, you may identify areas that need improvement and improve supply chain management for success wherever you work.
- Pan India Fulfillment & Darkstore Network: Plug-and-play fulfillment infrastructure with no minimums, which is compliant with Amazon Seller Flex, Flipkart Assured, Myntra and other marketplaces
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Trusted by 300+ top Indian brands, we are helping them accelerate online sales and expedite their growth through a synergistic combination of advanced technology, robust fulfillment infrastructure & seller enablement services!WareIQ is backed by leading global investors including Y Combinator, Funders Club, Flexport, Pioneer Fund, Soma Capital, and Emles Venture Partner.