Have you heard of the word social commerce but didn’t know what it meant? While it may be self-explanatory, there is more to it than meets the eye! Promoting your business and selling through social media has become all the rage – especially after the COVID-19 lockdowns. As more Indians become entrepreneurs, how is social commerce impacting business and why is it the next big thing?
This article dives deep into why Indians love selling on social media platforms like Instagram, WhatsApp, and Facebook. A global report claims that social commerce is all set to hit a whopping $2.9 Trillion by 2026.
What is social commerce?
Selling and buying on social media platforms or apps is social commerce. There are different types and models of social commerce like reselling, video commerce, referral and affiliate programs etc.
Why is social commerce so popular in India?
Since the pandemic hit, most people have switched to online modes of shopping. According to a recent survey, 53% of millennials from Tier II and Tier III cities prefer shopping online.
Value-for-money, faster deliveries, flexible return and refunds, buy now and pay later options etc have created a huge demand for social commerce. Deep smartphone penetration and the digital shift has made everybody an entrepreneur in India today.
How to use social commerce to grow your online business?
Directly or indirectly, if you own an online business, you already are a part of the social commerce economy.
The effect of this social commerce wave is strong in India. A recent Wazir Advisors report stated that Instagram, Facebook, and WhatsApp along with a few more platforms contribute to 65% of the social commerce market share. So if you don’t have a social media presence for your business today, you are missing out on a big ocean of customers that are waiting to discover you.
We’ve put together 3 quick tips on how to use social commerce smartly for your small business. Use these tips to build a social media brand for your business and get more orders online.
1. Create a social media promotion strategy for your business ♟️
Understanding the core of social commerce can help you use it to your advantage. Just posting photos of your product or talking about your services may not be enough. Use the power of strategy to stand out from the crowd. Here’s an example of a good social media strategy
Once you’ve nailed down your strategy, use the below starter kit to get into the social commerce action immediately:
- A social media calendar – here’s a free social media calendar template that you can use
- A good mix of social media promotional activities – like influencer marketing, advertising etc. Check out this guide to small business influencer marketing for ideas
- Planned campaigns before the launch of a product or new offer – check out how brands nailed Diwali campaigns in 2021
- Automate social media content posting with these free social media tools for your eCommerce business
2. Use social media analytics to amplify your brand reach and interact with customers 📊
Leverage the power of social media analytics and data to boost your business. Every eCommerce business is different and has its own target audience. With a good social media strategy, you can test and observe how your followers are reacting or engaging with your content. For example, you can create a seasonal marketing campaign on Instagram to launch a winter sale.
To be able to make powerful business decisions on social media, make data your ally. We have two great resources that can help you take advantage of social commerce:
- This guide on what time to post on social media can help you time your content right
- We also put together a guide to social media metrics to track that can help give insights on the performance of your content and business.
3. Don’t do social commerce manually! Please 🙏🏽
Simply because It’s 2021! Your customers deserve a smooth shopping experience so give them that.
If you’re still collecting orders manually on Google sheets and using Google pay to manage your business, you might consider getting an upgrade. Switch to an eCommerce platform that allows you to showcase your catalogue of products/services, manage orders, collect payments, and ship to customers directly to their doorstep.
You can do all that and more with Instamojo online stores.
The Instamojo store is your eCommerce website which you can share on social media and add to the description in your social profiles and more. Here’s a video guide on how you can sell on Instagram with Instamojo online stores.
Over 20 Lakh Indian small businesses are using Instamojo to power their business. You can too! Get started for free or get premium features at the cost of a chai and samosa.