The year of 2016 is seeing retailers working toward social media as a form of commerce, with more efforts being made to determine the best way to drive sustainable e-commerce sales through social media. Some of the better known examples of the move to social commerce include Amazon (NASDAQ: AMZN) allowing customers to add items to their shopping carts with #AmazonCart, Facebook (NASDAQ: FB) adding a “Buy” button to make it easier for consumers to purchase items without leaving their social media accounts, and Coca-Cola’s (NYSE: KO) #ShareACoke campaign.
But, the evolution of social commerce truly started in 2012, when Facebook added its collection features. Later, in 2014, Facebook, Twitter (NYSE: TWTR), and Tumblr (NASDAQ: YHOO) added “Buy” buttons. In 2015, Facebook added a shoppable page and made messenger payments available, Instagram added a “Shop Now” feature, Pinterest added buyable pins, and Twitter finally expanded its Buy Now partnerships. In 2016, Facebook enabled a feature allowing consumers to buy event tickets on the social media site, and Pinterest added buyable pins open to all SMBs, as well as a Pinterest shopping cart.
In addition to the above developments, according to Sumo Heavy Industries (http://nnw.fm/y10wR), social media referral traffic to e-commerce sites grew by 198%, with baby products, home furnishings, health and wellness, and automotive purchases being the most influenced by social media. Facebook showed the highest conversion rates for all social media e-commerce traffic at 1.85%, according to Shopify (http://nnw.fm/x7UJZ).
Although social commerce is still developing, Sumo Heavy Industries found that it remains a promising channel, with 73% of users who have tried “Buy” buttons saying they would do it again, and one in five people saying they are open to the idea despite not having tried it yet. Also, according to an article published in Marketing Week (http://nnw.fm/6Yx0U), out of 2,017 people aged 18 and over who were surveyed, 56% of them like or follow brands because of their products, and research shows that Facebook is the most popular site for direct purchases.
Yet not all businesses are convinced of this new way of selling. Some describe it as “making a mistake” while others have not optimized their websites for mobile use (51%). Not only this, 31% of these organizations have no intention of optimizing their sites, which millennials find increasingly irritating, according to statistics (http://nnw.fm/3Rih4).
Fortunately, Moxian, Inc. (OTCQB: MOXC) is in the business of providing social marketing and promotion platforms to aid merchants in growing and advertising their businesses through social media. Moxian incorporates social media, entertainment, and business intelligence. The company is a multi-channel social commerce platform that includes a relationship management system in order to generate knowledge for merchants so they can better interact with their chosen audiences.
For more information, visit the company’s website at www.Moxian.com
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