Social Media And E-Commerce
When e-commerce solutions were first introduced, they were essentially a competitive advantage for businesses that chose to embrace it. Now in 2016, it seems that it is almost a requirement for a business to thrive.
At the present, we generate $2.4 million every single minute through e-commerce websites and applications.
A very large portion of this number comes from social media such as Facebook, Twitter, Instagram and Pinterest. These networks can generate $40,000 or better each minute…and these networks are just a small piece of a larger social media footprint.
It’s nearly impossible to calculate how much revenue social media does generate for us, but it’s nothing to laugh at. With the level of segmentation, especially on platforms like Facebook, it makes it incredibly easy to market directly to the consumers you are looking for. This speaks to target ads, but what about that “share” button?
With a click of the mouse, your product or service can be sent to thousands of friends for free, depending on how convincing or attractive your product is. This can lead to a “snow ball” effect, also known as the multiplier effect seen by way more eyes than just those in your network.
It also seems that now a days, social media also serves as a legitimizer for businesses. Those without social media accounts tend not to be as engaging or even trusted for that matter. Often times customers will reach out via social media as a form of customer service. This in turn makes the company seem more engaging and reachable to customers.
So if you’re considering using social media or not for promoting your business or to reach out to customers, just think about the many benefits of having a strong “social game” in place. It’s free for the most part, so what can it hurt?