Many experts expect the social commerce market to flourish in 2014. How can retailers monetise their presence on various social media channels?
The first move is to create a meaningful conversation on social media sites such as Twitter or Facebook, noted Acquity Group’s Manager for Digital Marketing Aneesh Desikan.
“According to our B2C study, 30 per cent of women are most likely to purchase from a new retailer based on the recommendation of a friend or family member. This demonstrates that social purchase has its roots in engagement with trusted sources, not advertising.”
The next step is to focus on select clients and their interests as this approach is best suited to social media users rather than just web browsers.
“In order to concentrate on specific markets with a high level of interest, the first step is to determine the desired target market in line with website and conversion demographics,” he said.
Apart from a specific target market, a retailer’s content must also be relevant and engaging in order to attract significant web traffic. For example, when Acquity Group ran hyper-targeted campaigns for its clients’ websites, traffic to these portals surged by an average of 88 per cent.
Last but not least, retailers should attract potential customers directly to a product page via a “call to action” button, which should be obvious but unobtrusive. Moreover, the payment system should be user friendly in order to allow for fast transactions, Desikan added.