Most relevant platforms for social commerce

Instagram and Facebook are the top platforms for retailers who engage in social commerce

In times when social media has grown beyond a mere connector between friends and family into one of the most important means of communication between brands and customers, a well-developed social commerce strategy is vital for retailers. Customer reviews and other user-generated content have become valuable marketing tools and key growth drivers in modern commerce. Most retailers are already aware of the great potential that social platforms hold for customer acquisition and retention, this is what a recently published survey carried out by eTail, Stackla, and Worldwide Business Research found out: According to the data, 89% of retailers already engage with social commerce or are planning to implement strategies within the next 24 months at the latest. 75% of the interviewed retail executives said that they were going to increase investments in social media marketing activities the upcoming 12 months or at least keep their current level of investment. When looking at the social platforms that are most widely used for marketing activities among retailers, there is a clear winner:

Out of the retail executives surveyed, 92% stated that they were currently using Instagram as a platform for marketing activities. In second place there is the old hat among social media platforms and Instagram-mother Facebook, with 77% of retailers using the network for social commerce purposes. Twitter and Pinterest follow, with usages of 57% and 47%, respectively. Smaller platforms reach usages of 30% and less, yet still seem relevant for marketing activities for certain interviewees. As brands use social media to engage with their clients directly and create emotional connections with them, it is no surprise that the usage numbers for social commerce activities are widely in line with general user numbers or popularity of a social network among people in general. The more potential customers use a social network, the more interesting it is for eCommerce marketers. Most retailers have caught wind – only 11% of those executives surveyed are not considering social commerce for their companies. The relevance of social commerce is thus likely to increase further in the near future.

 

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January 2021