Social commerce

More accurately, social commerce is the use of social network(s) in the context of e-commerce transactions.

The term describes a set of online collaborative shopping tools such as shared pick lists, user ratings and other user-generated content-sharing of online product information and advice.

The concept of social commerce includes collaborative e-commerce tools that enable shoppers "to solicit advice from trusted individuals, find goods and services and then purchase them".

The social networks that spread this advice have been found to increase the customer's trust in one retailer over another.

AimsSocial commerce aims to assist companies in achieving the following objectives:

Some examples of social commerce

Examples of social commerce include:

Some academics have sought to distinguish "social commerce" from "social shopping", with the former being referred to as collaborative networks of online vendors; the latter, the collaborative activity of online shoppers. Ringier Digital Marketing finds a collaborative way to offer this service to brands giving an overall comprehensive experience and in return better turn over.

Elements of social commerce

Reciprocity - When a company gives a person something for free, that individual feels the need to return the favor, either by buying again or giving good recommendations for the company.

Community - When people find an individual or a group that share the same values, likes, beliefs, etc., they find a community. People are more committed to a community that they feel accepted within. When this commitment happens, they tend to follow the same trends as a group and when one member introduces a new idea or product, it is accepted more readily based on the previous trust that has been established.

Social proof - To receive positive feedback, a company needs to be willing to accept social feedback and to show proof that other people are buying, and like the same things that they like. This is beneficial to encourage open recommendation and feedback which in turn creates trust for the seller. It is reported that 55% of buyers turn to social media when they’re looking for information.

Authority - Many people need proof that a product is of good quality. This proof can be based on the recommendations of others who have bought the same product. If there are many user reviews about a product, then a consumer will be more willing to trust their own decision to buy this item.

Liking - People trust based on the recommendations of others. If there are a lot of 'likes' of a particular product, then the consumer will feel more confident and justified in making this purchase.

Scarcity - As part of supply and demand, a greater value is assigned to products that are regarded as either being in high demand or are seen as being in a shortage. Therefore, if a person is convinced that they are purchasing something that is unique, special, or not easy to acquire, they will have more of a willingness to make a purchase. If there is trust established from the seller, they will want to buy these items immediately

Ringier Digital Marketing a 360 Digital Marketing firm offers this service in a compendious manner as Social Media Management. It’s an all -inclusive Social Commerce, Social Engagement, Social Listening and Social Intelligence. Its consequential because you pay for one service and get all these add ons with the greatest benefit being Repeat purchases.

Article by Itohan Izugbokwe

This is a feature by RDM