Social commerce strategies for winners

Social media marketing: Social commerce for winnersIn the previous post, we described the relevance of social commerce within the ambit of social media marketing and how it works. Here we describe methods to ensure success in social commerce.

How to win at social commerce

Establish clear objectives

This fundamental step is not to be ignored. Setting out in clear terms your business’ expectations from the social commerce investment is practically what the entire exercise is built upon. This is applicable to overall social media marketing strategies as well. Without accurate ideas of what is to be achieved, any strategizing will seem directionless and benchmarks to measure results will not materialize. The more detailed the objectives, the better.

Define target audience clearly

Once your objectives have been defined, determine who you want to reach out to in order to achieve those objectives. For instance, if your objective was to drive sales of an elite line of anti-ageing products, you may want to target women over the age of 30 who are from a particular economic background.

Identify the appropriate channels

Once you know what your goals are and who you’re going to reach out to, the next logical thing would be to identify what platforms you will utilize to do the same. Not all groups of consumers are on Facebook or Twitter.

Create comprehensive plan

Successful social commerce strategies usually incorporate the following elements:

  • Enable options to share and refer
  • Encourage reviews and feedback
  • Suggest products that have interested other friends
  • Provide impressive user experience
  • Enable expert opinion endorsing your product/service
  • Leverage the quality of exclusivity
  • Provide utility to fulfill customer needs

Execute

There are countless brilliant strategies that have gone unnoticed due to poor execution. To ensure successful execution, assemble a team of experienced talent spanning various capabilities such as design, content, UX specialists, social media marketing experts and so on. Go over the execution before the launch and iron out any anticipated hiccups while being prepared for unexpected issues.

Monitor

Rope in your digital data analysts to keep a close check on your social commerce initiatives. Before the launch work out what metrics you will need to track in tandem with your analytics team based on what your objectives are. Focus on data that provides useful insights rather than huge amounts of data that you don’t know what to do with.

Optimize

Over a period of time, turn insights from analytics into action plans to enhance your strategy and reach an optimum state.

While social commerce might seem daunting to the uninitiated, it utilizes many of the principles of commerce from pre-internet times. The only difference now is that technology plays a huge part in delivering user experiences that can make or mar social commerce strategies.

While social commerce is an exciting new offshoot from the world of social media marketing, it needs to be approached with caution and tact. Marketers should have reasonable expectations from the medium rather than grandiose ones to avoid disappointment and frustration.

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